Adani Enterprises and Dioxycle partner to produce low-carbon formic acid in India using captured CO2 and renewable electricity

Adani Enterprises has partnered with French clean-tech firm Dioxycle to build a pilot plant in India that will produce formic acid from captured carbon dioxide and renewable electricity. The facility will be located at an Adani Group site and aims to prove the commercial viability of turning CO2 emissions into a usable industrial chemical. If the pilot works, the companies plan to scale up and explore other low-carbon chemicals for sectors like textiles, agriculture, and manufacturing. The deal marks Adani's entry into the chemicals sector and builds on its existing renewable energy and infrastructure base. Dioxycle brings an electrically driven chemical manufacturing process that runs on clean power. The project also supports India's Make in India push and shows growing Europe-India cooperation on industrial decarbonization. The key question is whether the economics pencil out at scale, especially for formic acid which competes with cheap fossil-based production.