JSW Steel, 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 signing took place in Oslo, Norway, during the 3rd India–Nordic Summit.

The proposed project, of 300 KTPA, is intended to utilise carbon dioxide (CO₂) emissions generated from JSW Steel's operations in district Raigad, Maharashtra, and convert them into eMethanol using green hydrogen produced from renewable energy sources.

The collaboration seeks to establish a scalable carbon capture and utilisation (CCU) pathway for the steel sector, while also supporting India's broader energy transition and industrial decarbonisation ambitions. The initiative aims to demonstrate how industrial emissions can be transformed into low-carbon fuels and chemical feedstocks, creating a replicable model for future green industrial infrastructure.

As part of the initial scope, the project intends to evaluate the utilisation 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.

Bharatia, a non-profit Foundation, operates a technology commercialisation and execution programme/platform under the name of ‘Bharat Technology and Impact Accelerator' (also known as Bharatia'), which is anchored with leading research institutions such as cGanga at Indian Institute of Technology Kanpur.

Carbon Iceland International ehf is a consortium-led platform bringing together global expertise in CO₂ capture, eFuel production and industrial decarbonisation. 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.