An interview with Kishan Karunakaran, Founder and CEO, Buyofuel, an online platform that caters to India’s biofuel marketplace
In this interview, we sit down with Kishan Karunakaran, the visionary Founder and CEO of Buyofuel, an innovative online platform revolutionizing India’s biofuel marketplace.
With sustainability at its core, Buyofuel is making significant strides in promoting eco-friendly energy alternatives across the country. Karunakaran shares his insights on the biofuel sector, the company’s growth, and the future of clean energy in India.
Kishan, can you tell us about your journey and what led you to found Buyofuel? What motivated you to focus on the biofuel industry in India?
Kishan Karunakaran: The idea for Buyofuel emerged from a deep understanding of the challenges in the biofuel industry. I’ve been involved in the biofuel sector for over 16 years, running biodiesel plants, consulting biodiesel projects and enhancing supply chain optimization.
During this time, I noticed the industry lacked a reliable and accessible platform to connect waste generators, biofuel manufacturers, and consumers. The supply chain was fragmented, making it difficult for these stakeholders to collaborate efficiently.
This realization drove me along with the other co-founders, Sumanth kumar, Venkat Selvan, Prasad P Nair, heading the marketing, IT and the customer relation & project departments respectively, to create Buyofuel, India’s first online marketplace for biofuels and waste.
We aim to simplify the process, ensuring seamless transactions between raw material suppliers, manufacturers, and end-users, while democratizing green fuels for a sustainable future.
What do you consider the biggest challenges and opportunities in the biofuel sector in India, and how is Buyofuel positioning itself to capitalize on them?
Kishan Karunakaran: The biofuel sector in India faces several challenges, including limited feedstock availability, high production costs, infrastructure gaps, and the need for widespread awareness and adoption.
Regulatory compliance and quality assurance also remain critical issues. However, these challenges are paired with significant opportunities, such as increasing government support through mandates and incentives, growing demand for renewable energy, and advancements in technology enabling efficient production and use of biofuels.
Buyofuel is strategically positioning itself to address these challenges and leverage opportunities by creating a seamless platform for biofuel transactions.
The platform connects a diverse network of suppliers and consumers, ensuring consistent feedstock availability and fostering a reliable market ecosystem.
By introducing innovative feedstocks like mango seeds, guava seeds, and mustard husk, Buyofuel is expanding feedstock options and supporting a circular economy.
Additionally, features like Buyotrace (blockchain-based traceability), sustainability dashboards, and curated quality assurance make Buyofuel a trusted partner for industries aiming to meet ESG and regulatory requirements.
With a strong focus on collaboration with government bodies, industries, and sustainability initiatives, Buyofuel is well-positioned to drive the biofuel sector’s growth and support India’s energy transition.
How does Buyofuel support India’s sustainability and energy transition goals through its platform and biofuel offerings?
Kishan Karunakaran: Buyofuel actively works to accelerate biofuel adoption and production through initiatives aimed at both supply and demand. On the supply side, it partners with waste generators to source feedstock for biofuel production, thus enhancing resource availability and reducing waste.
For demand generation, Buyofuel collaborates with large corporations, providing tools like sustainability dashboards that track emissions reductions, which align with corporate ESG goals.
Additionally, Buyofuel contributes to rural economies by integrating more than 5000 metric tons of agricultural residues into the biofuel supply chain, directly supporting a sustainable, circular economy.
What role do you see government policies playing in the growth of the biofuel market, and what changes would you like to see to further encourage growth in this space?
Kishan Karunakaran: Government policies and mandate to co-fire biofuels for their energy purposes has played a key role in boosting the biofuel sector in India.
Programs and policies such as Samarth Mission, National policy on biofuels has resulted in an increased usage of biofuels in various sectors. Policies incentivize production through subsidies, tax benefits, and investment in biofuel production infrastructure.
To stimulate the demand in India, setting stricter blending mandates can expand the usage of biofuels across sectors. Supporting R&D for agro-waste biofuel sources could ensure sustainability while ensuring waste to enter the energy production stream.
By enhancing strengthening mandates, and encouraging feedstock diversification, India can foster a robust, sustainable demand for biofuels.
What are some of the key differentiators that set Buyofuel apart from other biofuel suppliers and online platforms in India?
Kishan Karunakaran: The biofuel niche is emerging, in fact emerging at a very fast pace as they have the potential to reduce carbon emission greatly.
As a tech enabled platform, our company’s objective is to reduce the usage of fossil fuel by promoting all the biofuels. Compared to carbon emission from commercial vehicles, the industries and power plants hold 1000x of carbon emissions per day.
Our goal is not only for a sustainable living, it’s to create a sustainable environment.Hence, the platform is designed to track these industrial emissions and help them switch to biofuels.
We have a strong supply base that allows us to work with clients at all levels of industry, so they can make sure their carbon footprint is as small as possible.
What advice would you give to aspiring entrepreneurs looking to enter the clean energy or biofuel industry?
Kishan Karunakaran: The biofuel industry is on the rise and demand for biofuels would significantly increase to meet the stringent mandates and policies put forth by the government.
There are challenges to this market as well, where with the right guidance and focus on the right target market, this market is a great space for young entrepreneurs to venture and to capitalize on the emerging opportunities.
Where do you see the biofuel industry heading in the next 5-10 years, and what role do you envision for Buyofuel in this transformation?
Kishan Karunakaran: The biofuel industry is poised for exponential growth in the next 5-10 years, driven by stricter government mandates, technological advancements, and the global push for decarbonization.
Adoption of advanced biofuels and increased integration of biofuels in hard-to-abate sectors like aviation, shipping, and heavy industry will further accelerate this transformation.
Buyofuel envisions playing a pivotal role in this transition by fostering a robust marketplace that bridges the gap between biofuel suppliers and consumers.
Through innovative solutions like blockchain-based traceability, diverse feedstock integration, and sustainability metrics, Buyofuel aims to lead the industry toward a sustainable and greener future
Kishan Karunakaran’s leadership and commitment to sustainability have positioned Buyofuel at the forefront of India’s biofuel revolution.
As the company continues to expand, it promises to drive India’s transition to cleaner, greener energy solutions, making a lasting impact on both the environment and the economy.
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