India’s JSW Steel Limited and Bharatia, along with Carbon Iceland International, have signed a Memorandum of Understanding (MoU) to jointly explore the development of a large-scale green methanol (e-methanol) project and establish a scalable carbon capture and utilization (CCU) pathway for the steel sector, according to a joint statement issued by the companies on Tuesday, May 26.
The agreement was signed in Oslo, Norway, during the 3rd India–Nordic Summit.
The proposed 300 ktpa (kilo-tonnes per annum) project is intended to utilize carbon dioxide (CO₂) emissions generated from JSW Steel’s operations in Raigad district, Maharashtra, and convert them into e-methanol using green hydrogen produced from renewable energy sources.
As part of the initial scope of the MoU, the project intends to evaluate the utilization of an existing high-purity CO₂ stream from JSW Steel’s facility, while also assessing opportunities to capture additional CO₂ emissions from broader steel manufacturing operations, the statement said.
JSW Steel operates integrated steel manufacturing facilities across India and generates carbon dioxide (CO₂) emissions in the process of iron and steelmaking. Bharatia, a non-profit foundation, operates a technology commercialization and execution program/platform under the name of ‘Bharat Technology and Impact Accelerator’.
Carbon Iceland International ehf is a consortium-led platform bringing together global expertise in CO₂ capture, eFuel production and industrial decarbonization. Through proven technologies and integrated execution capabilities, Carbon Iceland enables rapid deployment of scalable, low-risk green fuel projects, supporting large-scale emissions reduction and positioning India as a leader in sustainable industrial transformation, according to the statement.
