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Adani Dioxycle Partnership Begins India’s First Green Formic Plant

Adani Enterprises and French Firm Dioxycle Plan Low Carbon Chemical Project in India

Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, has entered a long-term partnership with French clean technology company Dioxycle to develop low-carbon chemical manufacturing in India. The agreement, announced on 10 July 2026 from Ahmedabad and Paris, brings together Adani’s renewable energy and industrial infrastructure with Dioxycle’s carbon conversion technology.

The first stage of the partnership will be the construction of a pilot facility at an Adani Group site. The plant will produce formic acid by using captured carbon dioxide and renewable electricity. If the pilot performs as expected, both companies plan to expand the technology for commercial-scale production.

The project represents Adani Group’s first major move into low-carbon chemicals, adding a new business area to its existing interests in renewable energy, transport, airports, data centres and industrial infrastructure.

Formic acid is an important industrial chemical used in textile processing, leather treatment, agriculture, rubber production and several manufacturing processes. It is also being studied as a possible hydrogen carrier because it can safely store and transport hydrogen for use in clean energy systems. Worldwide demand for formic acid continues to grow as industries search for production methods that release fewer greenhouse gases.

Instead of producing the chemical through traditional fossil fuel-based methods, the planned facility will use captured carbon dioxide as a raw material. Renewable electricity will power the manufacturing process, allowing carbon emissions that would otherwise enter the atmosphere to be converted into a useful industrial product.

The partners say the project combines Dioxycle’s electrically driven chemical manufacturing technology with Adani Group’s renewable energy resources, industrial infrastructure and experience in delivering large-scale projects.

“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,” said Mr Jeet Adani, Director, Adani Group.

Dr Sarah Lamaison, Chief Executive Officer and Co-Founder of Dioxycle, said, “This partnership demonstrates how clean technology and industrial scale can come together to reshape how essential chemicals are produced. 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.”

Dioxycle, based in France, develops electrochemical technology that converts carbon dioxide into industrial chemicals. The company focuses on replacing conventional chemical production methods that depend on fossil fuels with manufacturing processes powered by renewable electricity. Carbon utilisation technologies such as these are attracting growing attention in Europe, North America and Asia as governments and industries work to lower emissions while maintaining industrial output.

The agreement goes beyond formic acid. Adani Enterprises and Dioxycle said they will examine opportunities to produce other chemicals used in sectors including energy, packaging, advanced materials and manufacturing. Many of these industries still depend heavily on fossil-based feedstocks and are under increasing pressure from customers, investors and regulators to reduce their carbon footprint.

Chemical manufacturing is among the world’s largest industrial sources of carbon emissions because many production methods rely on natural gas, coal, or oil as both fuel and feedstock. According to international energy studies, reducing emissions from the chemical sector will require greater use of renewable electricity, carbon capture technologies and alternative raw materials over the coming decades.

India has been expanding its clean energy capacity at one of the fastest rates in the world. The country’s growing renewable electricity network, combined with a large manufacturing base and government support for domestic industry, has encouraged companies to explore cleaner production methods. These factors have strengthened India’s position as a possible manufacturing hub for new industrial technologies.

The partnership also reflects wider cooperation between India and Europe on climate-related innovation. European technology companies are increasingly seeking industrial partners in India that can provide large-scale manufacturing capability, renewable energy and expanding domestic markets.

For Adani Enterprises, the project supports a broader strategy of investing in businesses linked to the country’s energy transition. The company has already announced investments across green hydrogen, airports, roads, data centres, copper and petrochemicals. The addition of low-carbon chemical manufacturing expands that portfolio into another sector expected to help reduce industrial emissions.

The initiative also aligns with the Government of India’s “Make in India” programme, which promotes domestic manufacturing, and the long-term Viksit Bharat 2047 vision, which aims to strengthen India’s industrial and economic development through technology, innovation and infrastructure.

Adani Enterprises has previously developed several businesses that later became separately listed companies, including Adani Ports and Special Economic Zone, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar. The company says its newer investments are focused on sectors with long-term growth potential as India expands its industrial and clean energy capabilities.

If the pilot plant successfully demonstrates commercial viability, the partnership could become an early example of carbon utilisation technology being deployed at industrial scale in India. It may also provide a model for producing essential chemicals with lower emissions while making use of captured carbon dioxide that would otherwise contribute to climate change.