New Delhi, December 02, 2023: Buyofuel, a tech-driven biofuel marketplace, announced a threefold growth in the fiscal year 2023. Amidst rising air pollution concerns across India, the company has reduced approximately 80,000 metric tons of CO2 emissions through partnerships with its clients.
In 2018, the Indian government came up with The National Policy of Biofuels. The policy aimed to focus on the reduction of the import of biofuels and to promote a cleaner environment. This meant a space had opened up in the country for companies focusing on biofuels to start up. Thus, Buyofuel has utilized its potential as a cleantech startup.
Key achievements and metrics:
- 5X Growth: Buyofuel's 2023 fiscal year showcases an impressive five-fold growth, handling a monthly transaction volume of 10,000 MT, underscoring the success of its sustainable business model and the increasing demand for eco-friendly solutions in the market.
- Emission Reduction: Through strategic collaborations with clients, Buyofuel has mitigated approximately 80,000 metric tons of CO2 emissions, setting a new standard for environmentally conscious business practices and targeting 300,000 MT reduction by 2024-25.
- Trees Planted: In alignment with its commitment to reforestation and combating climate change, Buyofuel has planted a total of 3,643 trees, contributing to the restoration and preservation of ecosystems.
Speaking on the encouraging growth figures, Kishan Karunakaran, CEO, Buyofuel, emphasized, "Our growth is a testament to the viability of sustainable business practices. We are not only achieving economic success but, more importantly, we are actively contributing to a cleaner and healthier country and planet."
