BiofuelCircle, India’s first 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 two 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 an organised and reliable rural supply chain for biomass. Our model has been recognised for its focus on rural enterprises and farmer participation in creating a viable supply chain.”
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.