Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced a long-term partnership with Dioxycle, a French clean-technology company specialising in chemical manufacturing, to develop and scale low-carbon chemical production in India. The collaboration will begin with a pilot facility at an Adani Group site to produce formic acid using captured carbon dioxide and renewable electricity.
The pilot facility will be India's first formic acid production unit powered entirely by renewable electricity and captured carbon. Following successful validation, the partners plan to scale the technology for commercial manufacturing. Formic acid and its derivatives are used across textiles, agriculture and manufacturing sectors. The project involves converting captured carbon emissions into valuable products using clean energy.
The partnership combines Dioxycle's electrically driven chemical manufacturing technology with the Adani Group's clean-energy capabilities, infrastructure platform and project execution expertise. "We are proud to pilot India's first formic acid production facility powered entirely by renewable electricity and captured carbon," said Jeet Adani, Director, Adani Group.
Beyond formic acid, the partners will explore opportunities to develop a broader portfolio of chemicals used across energy, materials, packaging and manufacturing sectors. Many of these sectors continue to rely on fossil-based feedstocks and face increasing pressure to reduce emissions. The initiative marks the Adani Group's entry into the chemicals sector, building on its renewable energy and infrastructure strengths while expanding its portfolio of future-ready businesses.
The partnership supports the Make in India and Viksit Bharat 2047 objectives by promoting technology-led growth and strengthening domestic manufacturing capabilities. The collaboration also reflects growing India-Europe cooperation in clean technologies as global supply chains increasingly seek sustainable alternatives, and strengthens India's role in sustainable manufacturing.
The next-generation chemical manufacturing technology developed by Dioxycle uses electricity and widely available feedstocks including CO2 emissions rather than fossil fuels. Dioxycle, founded in 2021 and headquartered in Paris, has raised USD 40 million from investors including Breakthrough Energy Ventures and Lowercarbon Capital.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.