JSW Steel, Bharatia and Carbon Iceland sign MoU for green methanol project
JSW Steel Limited, Bharatia, and Carbon Iceland International have signed a strategic Memorandum of Understanding (MoU) to jointly explore the development of a large-scale green methanol (eMethanol) project in India. The agreement was signed during the 3rd India-Nordic Summit held in Oslo.
The proposed project is planned with a production capacity of 300 kilotonnes per annum (KTPA). It aims to utilise carbon dioxide (CO₂) emissions generated from JSW Steel’s operations in Raigad district, Maharashtra, and convert them into eMethanol using green hydrogen produced from renewable energy sources.
The MoU signing was witnessed by Iceland Prime Minister Kristrún Frostadóttir and Icelandic Ambassador to India H.E. Benedikt Höskuldsson.
Representing the participating organisations at the signing were Sanmit Ahuja, Managing Director (MD) and Chief Executive Officer (CEO) of Bharatia; Naresh Lalwani, Executive Vice President (EVP) of JSW; Hal Oskarsson, CEO of Carbon Iceland; and Björn I. Victorsson, Chairman of Carbon Iceland.
According to the companies, the collaboration aims to create a scalable carbon capture and utilisation (CCU) pathway for the steel sector while contributing to India’s industrial decarbonisation efforts. The project is intended to demonstrate the conversion of industrial emissions into low-carbon fuels and chemical feedstocks.
As part of the initial scope, the partners will evaluate the use of an existing high-purity CO₂ stream from JSW Steel’s Raigad facility. The project will also assess the possibility of capturing additional CO₂ emissions from broader steel manufacturing operations.
Under the partnership structure, JSW Steel will contribute industrial infrastructure and operational capabilities. Bharatia, a non-profit foundation operating the Bharat Technology and Impact Accelerator platform anchored at the Indian Institute of Technology (IIT) Kanpur’s cGanga, will support project development, implementation architecture, ecosystem integration, and financing pathways.
Carbon Iceland International will act as the technology project developer for carbon capture integration, e-fuels production, and industrial decarbonisation solutions.
The MoU outlines a phased development roadmap beginning with feasibility studies and technical validation, followed by potential future commercial-scale implementation.
The featured photograph is for representation only.
