Partnership Details
Adani Enterprises Ltd (AEL), the flagship company of Adani Group, and Dioxycle, a French clean-technology company specializing in chemical manufacturing, announced a long-term partnership to develop and scale low-carbon chemical production in India. The partnership was announced on July 09, 2026.
Project Phasing
The initiative will begin with a pilot facility at an Adani Group site to produce formic acid using captured carbon dioxide and renewable electricity. Following successful validation, the partners plan to scale the technology for commercial manufacturing.
Technology and Process
The partnership combines Dioxycle's electrically driven chemical manufacturing technology with Adani Group's clean-energy capabilities, infrastructure platform, and project execution expertise. The technology uses electricity and widely available feedstocks, including CO₂ emissions and salt streams, rather than fossil fuels.
Product Focus
Formic acid and its derivatives are widely used across industries including textiles, agriculture, and manufacturing. Beyond formic acid, the partners will explore opportunities to develop a broader portfolio of chemicals used across sectors such as energy, materials, packaging, and manufacturing.
Strategic Significance
For Adani Group, this initiative marks a strategic entry into the chemicals sector, building on its strengths in renewable energy and infrastructure while expanding its portfolio of future-ready businesses. The project aims to demonstrate how captured carbon emissions can be converted into valuable products using clean energy.
Management Commentary
Mr. Jeet Adani, Director, Adani Group stated: "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."
Dr. Sarah Lamaison, CEO and Co-Founder of Dioxycle stated: "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."
National Objectives
The initiative supports the twin national objectives of "Make in India" and Viksit Bharat 2047 by promoting technology-led growth, strengthening domestic manufacturing capabilities, and accelerating India's transition to a more competitive and sustainable economy.
About Dioxycle
Dioxycle is headquartered in Paris with operations in France and the United States. The company has raised USD 40 million from investors including Bill Gates' Breakthrough Energy Ventures, Lowercarbon Capital, Gigascale Capital, Collaborative Fund, and Woven Earth Ventures, as well as grants from the EU and the French government. The company was founded in 2021.
Financial Impact
Financial impact not quantified in the disclosure. The partnership represents a strategic expansion rather than an immediate financial transaction.