BiofuelCircle Wins NTPC Startup Challenge for Biomass Digital Marketplace
27 October 2022, Pune: BiofuelCircle, a digital marketplace for biomass and biofuels won the NTPC Startup Grand Challenge to Create a Digital Marketplace for Biomass.
Through this challenge, NTPC wanted to identify a start-up company that it will collaborate with as it now readies to fulfil its ambition to co-fire biomass in its Thermal Power plants. A pilot project will begin with 2 of NTPC power plants to help create a farm-to-furnace ecosystem.
Elaborating further, Suhas Baxi, Co-founder and CEO, BiofuelCircle said, “We are delighted to work with NTPC to fulfil a shared vision of creating organized and reliable rural supply chain for biomass. Our model has been recognized for its focus on rural enterprises and farmer participation, in creating a viable supply chain. At maturity, Indian power sector can consume farm waste from more than 5 million farmers across the country. We are excited to be at the cusp of a major green energy revolution in India”
BiofuelCircle’s digital platform has set up a three-sided e-marketplace connecting buyers and sellers along with service providers for transportation, warehousing, and other supply chain services. BiofuelCircle has created a digital ecosystem to cater to the diversity of participants where businesses from industrial and rural sectors can transact fairly. BiofuelCircle started as a bootstrapped company and has raised US$ 1.75 Million since inception.
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