Adani Enterprises has partnered with French clean-tech firm Dioxycle to build India's first low-carbon formic acid facility. The pilot plant will use captured carbon dioxide and renewable electricity to produce formic acid, a chemical used in textiles, agriculture, leather, and industrial cleaning. The project is part of Adani's broader push into sustainable chemicals and green hydrogen, leveraging its renewable energy and infrastructure assets. If the pilot succeeds, the companies plan to scale up and expand into other low-carbon chemicals for packaging, energy, and advanced materials. Dioxycle brings an electrically driven chemical manufacturing process that replaces fossil fuel based production. The company has raised about USD 40 million from investors including Breakthrough Energy Ventures and Lowercarbon Capital. For India, the project aligns with Make in India and Viksit Bharat 2047 goals. It also signals growing India Europe collaboration on clean industrial tech. The key question is whether the economics of CO2 to formic acid can compete with conventional production at scale, especially given the need for cheap renewable power and consistent CO2 supply.
