Adani Enterprises Ltd (AEL) announced a long-term partnership with French clean-technology firm Dioxycle on Friday to develop and scale low-carbon chemical manufacturing in India, starting with a pilot facility that will produce formic acid from captured carbon dioxide and renewable electricity.
Pilot plant to convert captured carbon into formic acid using renewable power
The tie-up brings together Dioxycle’s electrochemical manufacturing technology, which uses renewable electricity to convert carbon dioxide into industrial chemicals, with AEL’s clean-energy generation capacity, infrastructure network and project execution experience.
The pilot will be set up at an Adani Group site, with the companies planning to scale up the technology for commercial production once the facility is validated.
Formic acid, the target product of the pilot, is used across textiles, agriculture and manufacturing. By producing it from captured emissions and renewable power rather than fossil-based processes, the companies aim to demonstrate a model for converting carbon liabilities into commercial output.
Jeet Adani, Director of Adani Group, said, “We are proud to pilot India’s first formic acid production facility powered entirely by renewable electricity and captured carbon. This partnership with Dioxycle is a testament to how strategic industrial synergies can turn carbon liabilities into sustainable, cost-effective economic assets.”
Dioxycle CEO and co-founder Dr Sarah Lamaison said the partnership brings together clean technology and industrial scale to change how essential chemicals are made. “India offers a unique combination of renewable energy, manufacturing capability, and ambition. Together with Adani, we aim to build a competitive and scalable model for low-carbon chemical production,” she said.
Portfolio expansion planned beyond formic acid
The two companies said they intend to expand the partnership beyond formic acid to a wider range of chemicals used in energy, materials, packaging and manufacturing, industries that remain heavily dependent on fossil-based feedstocks and face growing pressure to decarbonise.
For AEL, the partnership represents an entry into the chemicals sector, an extension of its existing renewable energy and infrastructure businesses. The company positioned the deal as an example of India-Europe collaboration in clean technology, and linked it to the government’s Make in India and Viksit Bharat 2047 goals.
Dioxycle, founded in Paris, has positioned itself in the emerging carbon-to-chemicals space, where companies use electrolysis and renewable power to convert captured CO2 into commercially useful compounds instead of relying on fossil fuel-derived inputs. The Adani partnership gives the French firm a manufacturing and deployment base in India, a market both companies described as well suited to scaling the technology given its renewable energy capacity and industrial demand.
No financial details of the partnership, including investment size or project timelines beyond the pilot phase, were disclosed by either company.
