Adani and Dioxycle partner on CO2 to formic acid pilot plant for low-carbon chemicals in India

Adani Enterprises has partnered with French startup Dioxycle to build a pilot plant in India that converts captured CO2 into formic acid using electrolysis powered by renewable electricity. The project targets the chemicals sector, which contributes about 7% of India's GDP and is under pressure to cut emissions as the market is expected to reach $1 trillion by 2040. The pilot will use Dioxycle's technology to turn industrial CO2 emissions into a valuable chemical used in textiles, agriculture, and manufacturing. If successful, the partnership could scale to commercial units producing 10,000 to 30,000 tonnes of formic acid annually and expand into other low-carbon chemicals. The outcome depends on renewable electricity costs, carbon capture efficiency, and competition with conventional production methods.