As India expands its bioenergy capacity, four students from Pune’s COEP Technological University are building a startup aimed at addressing one of the sector’s biggest challenges—ensuring a reliable supply of biomass fuel for industries.
Ved Thombre, Chinmay Sardeshmukh, Shrinidhi Katkar and Akhilesh Manmode, all around 21 years old, launched Swastik Eco Energy LLP in February this year with the goal of creating a dependable supply chain for biomass pellets and briquettes used as industrial fuel.
The venture comes at a time when biomass is gaining importance as a cleaner alternative to conventional fuels such as coal and wood. Pellets and briquettes are produced by compressing agricultural residues including sugarcane waste, corn residue, soyabean waste and sawdust into fuel suitable for industrial boilers and heating systems.
According to the founders, the biomass sector remains highly fragmented, creating difficulties for industries that require consistent supplies of fuel with uniform quality.
Ved Thombre, Chief Executive Officer and Designated Partner of the company, said industries often struggle to secure uninterrupted access to quality biomass. He noted that variations in biomass quality from different suppliers can affect boiler performance and operational efficiency, creating a significant challenge for industrial users.
To address the issue, the founders spent nearly a year researching the sector and engaging directly with industrial consumers. Akhilesh Manmode, the company’s Chief Marketing Officer, said the team visited industrial areas, met potential customers and studied fuel requirements before establishing the business.
The startup has since developed a network of contract manufacturers across multiple states. Chinmay Sardeshmukh, Chief Operating Officer, said biomass supplied by manufacturers is tested before being transported to the company’s warehouse in Saswad near Pune. The centralised storage model is designed to ensure industries receive timely deliveries without depending directly on rural manufacturers located near raw material sources.
The company’s emergence also coincided with fuel supply disruptions linked to the conflict in West Asia. During periods when commercial LPG supplies became difficult to obtain, several restaurants turned to biomass fuel supplied by the startup. However, the founders say their primary focus remains industrial applications.
Despite being in its early stages, the venture has gained support from both industry and academia. Shrinidhi Katkar, Chief Financial Officer, said the founders initially faced resistance from their families and even their college while pursuing the business alongside their studies. As confidence in the project grew, their families provided initial funding while the college offered workspace to support the venture.
Beyond commercial success, the founders say the company is driven by a broader sustainability mission. Thombre said growing evidence of climate change and extreme weather events highlights the need for industries to adopt more sustainable operating practices, with biomass playing an important role in that transition.
