Adani, Dioxycle to build India’s first renewable-powered formic acid plant
Adani Enterprises Limited (AEL) has announced a long-term partnership with French clean-technology company Dioxycle to develop and scale low-carbon chemical manufacturing in India. The media release was submitted to stock exchanges on July 10, 2026.
The collaboration will begin with a pilot facility at an Adani Group site to produce formic acid using captured carbon dioxide (CO₂) and renewable electricity. Subject to successful validation, the partners plan to scale the technology for commercial manufacturing.
The project aims to demonstrate the production of formic acid from captured carbon emissions using renewable electricity. Formic acid and its derivatives are used across industries including textiles, agriculture and manufacturing.
The partnership combines Dioxycle’s electrically driven chemical manufacturing technology, which replaces fossil-fuel-based processes with electrically driven production steps, with the Adani Group’s renewable energy portfolio, infrastructure platform and project execution capabilities.
Expansion into chemicals
The partnership marks Adani Group’s entry into the chemicals sector, extending its presence beyond infrastructure, energy and logistics. The companies also plan to explore the production of additional chemicals used in sectors including energy, materials, packaging and manufacturing that currently rely on fossil-based feedstocks.
The collaboration also supports India-Europe cooperation in clean technology and aligns with the objectives of “Make in India” and Viksit Bharat 2047 by promoting technology-led manufacturing and low-carbon industrial development.
Commenting on the partnership, Mr. Jeet Adani, Director, Adani Group, said: “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, Chief Executive Officer and Co-Founder of Dioxycle, added: “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. Together with Adani, we aim to build a competitive and scalable model for low-carbon chemical production.”
About Dioxycle
Founded in 2021, Dioxycle is headquartered in Paris with operations in France and the United States. The company develops electrically driven chemical manufacturing technologies. It has raised USD 40 million from investors including Bill Gates’ Breakthrough Energy Ventures, Lowercarbon Capital, Gigascale Capital, Collaborative Fund and Woven Earth Ventures, along with grants from the European Union and the French government.
