Adani Enterprises and Dioxycle partner to produce low-carbon chemicals in India using captured CO2 and renewable energy

Adani Enterprises has partnered with French cleantech firm Dioxycle to develop low-carbon chemical production in India. The first project is a pilot plant that will make formic acid using renewable energy and captured carbon dioxide. Formic acid is used in textiles, agriculture, and manufacturing, so this is a practical example of turning captured emissions into a marketable product rather than just storing them underground. The partnership plans to scale from the pilot to commercial manufacturing and explore other emissions-reducing chemicals. This marks Adani Group's entry into low-carbon chemicals, a sector that could help industrial buyers lower their scope 3 emissions if the economics work out. The key question is whether the cost of producing formic acid this way can compete with the conventional fossil route at scale.