JSW Steel Limited has entered into a strategic Memorandum of Understanding (MoU) with Bharatia and Carbon Iceland International during the 3rd India-Nordic Summit in Oslo, Norway. The agreement aims to develop a large-scale green methanol (eMethanol) project in India, focusing on converting carbon dioxide emissions from JSW Steel’s Raigad facility into low-carbon fuel using renewable energy-powered green hydrogen.
The project, targeting 300 KTPA capacity, will utilise an existing high-purity CO₂ stream from JSW Steel’s operations. It represents a phased approach starting with feasibility studies and technical validation before potential commercial implementation. The initiative aligns with global efforts to decarbonise heavy industries and supports India’s climate goals by demonstrating scalable carbon capture and utilisation (CCU) technology.
JSW Steel brings industrial infrastructure expertise, Bharatia contributes policy and financial strategy through its technology commercialisation platform, and Carbon Iceland International provides technical capabilities in carbon capture and e-fuel production. The collaboration leverages complementary strengths to create a replicable model for green industrial infrastructure in the Global South.
The MoU was signed in the presence of Icelandic dignitaries, including Prime Minister Kristrún Frostadóttir, highlighting strengthened India-Iceland cooperation in climate technology. The project’s success could position India as a leader in sustainable industrial transformation while reducing emissions from steel manufacturing.
JSW Steel’s sustainability track record includes an 8-year streak as WorldSteel’s Steel Sustainability Champion and alignment with Paris Agreement commitments. The company aims to cut CO₂ emissions by 42% by 2030 and achieve net-zero carbon emissions by 2050 across its operations. This project directly supports these targets by integrating decarbonisation into core manufacturing processes.
The partnership JSW Steel’s commitment to innovation and sustainability. By transforming industrial waste into valuable green fuels, the initiative addresses both environmental challenges and energy security needs. Further details on implementation timelines and funding mechanisms will be disclosed as the project progresses.
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.