BiofuelCircle to Double Rural Warehouses with Rs 75 Crore Investment

BiofuelCircle, a digital platform for the bioenergy supply chain, plans to expand its rural infrastructure. The company intends to more than double its rural warehouses to 35 by investing Rs 75 crore in 2024-25. This expansion aims to connect over 70,000 farmers and aggregate more than 250,000 tonnes of biomass.

BiofuelCircle, a prominent digital platform focused on the bioenergy supply chain, announced its plans to significantly enhance its rural infrastructure. The company is set to more than double the number of its rural warehouses to 35, up from 15, with an investment of Rs 75 crore scheduled for 2024-25.

The expansion targets key agricultural states including Uttar Pradesh, Haryana, Maharashtra, Gujarat, and Andhra Pradesh. According to a statement, the initiative aims to connect over 70,000 farmers and aggregate over 250,000 tonnes of biomass by the end of the fiscal year 2025.

Co-founder and CEO Suhas Baxi stated, "Our platform provides farmers access to modern infrastructure, turning agricultural waste into a valuable resource, thereby contributing to a circular economy." The company plans to use GPS and Telematics-based applications to support rural biomass businesses as part of this expansion. Recently, BiofuelCircle completed an equity round raising Rs 45 crore, led by Spectrum Impact, and signed a term loan agreement with Jio Finance to secure the remaining investment.

(With inputs from agencies.)