Corn for animal food is a major agricultural productof the northern of Thailand. After cultivation, corncob is burnedat cornfields because the farmers need areas for preparing thenext cultivation season. Hence, the remaining corncobs afterburning are left uselessly. This agricultural waste can be valueaddedby transforming it to coal. The coal can be sold as anOTOP product (One Tambon One Product) that well substitutesthe use of natural coal. Before doing business, it is necessary tostudy the feasibility of the project. Therefore, the objective ofthis research is to study project feasibility of corncob coal forcommercial purpose. Moreover, the methodology for doingproject feasibility can be a guideline for any other products ofother areas. In this research, Maejarim primary school in Nanprovince has chosen to be a pilot organization, which runs thebusiness. The business will help generate more income to peopleand students who involve in the business. Moreover, the incomecan be used for supporting education activity for students. Thisbusiness supports the “School in Dream” project of the Ministryof Education. This research covers four areas of study composingof marketing, production technique and management,environment and safety, and financial and economics issues.From marketing research, the study shows that major customers are barbeque restaurants, small food shops, and families that usecoal for cooking. In production point of view, the results fromexperiments show that the heat coefficient of the coal can beimproved by adding some coconut coal into corncob coal and tapioca flour should be added for combining purpose. The weightratio should be 7:1:2 for corncob coal: tapioca flour: coconutcoal. The result from financial and economics study shows that at30% sale point of maximum production capacity, the NPV of73,523 baht will be obtained at 9% interest rate during a periodof 10 years and the IRR of this project is 9% for 10-year period.