IndusInd Bank Joins Global PCAF Framework to Advance Carbon Accounting and Strengthen Climate Disclosures

The partnership strengthens the Bank's commitment towards measuring and managing emissions associated with financial activities in support of a low-carbon economy

Mumbai, August 18, 2026: IndusInd Bank, today, announced that it has joined the Partnership for Carbon Accounting Financials (PCAF), a global collaboration of financial institutions working to develop and implement a harmonised approach for measuring and disclosing greenhouse gas (GHG) emissions associated with financial activities.

As part of its sustainability journey, IndusInd Bank is committed to integrating environmental, social and governance (ESG) considerations into its business strategy and risk management processes. Joining PCAF marks an important milestone in the Bank's efforts to enhance transparency, strengthen climate-related disclosures, and establish a robust framework for measuring and managing the carbon footprint associated with its lending and investment portfolio.

PCAF enables financial institutions to assess and disclose the emissions linked to their financial activities, helping them better understand climate-related risks and opportunities while supporting the transition to a more sustainable economy. With more than 750 financial institutions participating globally, PCAF has become the leading framework for Scope 3 Category 15 accounting.

IndusInd Bank has been steadily advancing its sustainable finance agenda by financing renewable energy, energy efficiency, sustainable infrastructure, and other climate-positive sectors. By adopting the PCAF methodology, the Bank aims to establish a credible baseline for emissions associated with financial activities, identify decarbonization opportunities across sectors, and support customers in their transition towards lower-carbon business models.

ABOUT INDUSIND BANK

IndusInd Bank Limited has been redefining banking for the past 32 years and has been a force for progression and innovation, offering an elevated banking experience for its diverse range of stakeholders, including government entities, PSUs, retail customers, and large corporations. The Bank’s product offerings include microfinance, personal loans, debit/credit cards, SME loans, advanced digital banking facilities, affluent and NRI banking services, vehicle financing, and innovative ESG-linked financial products.

The Bank also caters to the growing Indian diaspora with representative offices in Dubai, and Abu Dhabi. As of June 30, 2026, IndusInd Bank serves around 42 million customers through 3,137 branches/banking outlets and 2,853 ATMs, reaching 1.60 lakh villages across India. IndusInd Bank leverages technology through its 'Digital 2.0' strategy, ensuring multi-channel delivery and a robust digital infrastructure. In each of its unique offerings that include ‘INDIE’ – the one-stop-shop for all things digital banking; innovation and customer centricity remain at the core. IndusInd Bank holds clearing bank status for major stock exchanges BSE and NSE, settlement bank status for NCDEX, and is an empanelled banker for MCX.

RATINGS

Domestic Ratings:

• CARE A1+ for Certificate of Deposits
• CRISIL A1+ for certificate of deposit program / short term FD programme
• CRISIL AA+ for Infrastructure Bonds program/Tier 2 Bonds
• IND AA+ for Issuer Rating by India Ratings and Research
• IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research

International Rating:

• Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service

Visit us at www.indusind.bank.in

About the Partnership for Carbon Accounting Financials (PCAF)

The Partnership for Carbon Accounting Financials was launched globally in September 2019. Currently, more than 750 financial institutions have subscribed to the PCAF initiative. PCAF signatories work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions associated with their financial activities. By doing so, PCAF signatories take an important step to subsequently assess climate-related risks, set climate targets, and develop effective strategies to decarbonize their portfolios.

For more information see https://carbonaccountingfinancials.com/

Media inquiries please contact:

Addie Fairley, Communications Lead, PCAF Secretariat, E: info@carbonaccountingfinancials.com

Anshu Jain, Lead – PR, IndusInd Bank, E: mediarelations@indusind.com

India Fast‑Tracks World’s Largest Green Methanol Tender

India is set to finalize tenders for 500,000 metric tonnes of green hydrogen–based methanol within the next two months, under Solar Energy Corporation of India Limited (SECI)'s SIGHT scheme. The bidding process began in May 2026, with contracts expected to be awarded by September 2026, marking a major milestone in India’s National Green Hydrogen Mission.

Green hydrogen methanol (or e-methanol) is a clean liquid fuel made by combining green hydrogen with captured carbon dioxide. It turns volatile hydrogen into a stable liquid that is easy to store and transport.

SECI has officially announced the 500,000‑tonne green methanol tender under the National Green Hydrogen Mission. The tender was published on May 6, 2026, with bids opening on June 8, 2026, and includes a 10‑year Green Methanol Purchase Agreement (GMPA).

The upcoming tender is the world’s largest because no other country has yet launched a single procurement of this scale for green methanol, making it a landmark in global shipping decarbonisation and hydrogen‑derived fuels.

Most global initiatives (EU, US, China) are in the 50,000–200,000 MT range, often fragmented across multiple plants. India’s tender dwarfs other announced projects.

Part of India’s National Green Hydrogen Mission, with SECI acting as the central buyer, ensuring guaranteed demand and revenue visibility, this is the first structured offtake mechanism for green methanol at such scale, backed by a 10‑year Green Methanol Purchase Agreement (GMPA).

Key Tender Details

• Agency: Solar Energy Corporation of India (SECI)
• Scheme: Strategic Interventions for Green Hydrogen Transition (SIGHT), Mode‑2C‑Tranche‑I
• Capacity:500,000 MT per annum of green methanol
• Bidding Process: Cost-based competitive bidding, single-stage, two-envelope system
• Eligibility: Only new production facilities (greenfield projects); existing methanol plants excluded
• Contract Tenure:10-year Green Methanol Purchase Agreement (GMPA) with SECI
• Bid Range: Minimum 50,000 MT/year; maximum 250,000 MT/year per bidder
• Financials:
  • Earnest Money Deposit (EMD): ₹5,000 per MT
  • Performance Bank Guarantee (PBG): ₹7,500 per MT
  • Non-refundable bid processing fee (capacity-linked)

Strategic Importance

• Shipping Decarbonisation: First tranche prioritizes maritime fuel transition
• Climate Standards: MNRE notified Green Methanol Standard (≤0.44 kg CO₂eq/kg) in March 2026
• Energy Security: Reduces reliance on imported fossil fuels
• Global Leadership: Positions India alongside EU and US in green methanol adoption

Comparison: Green Methanol vs Alternatives

Fuel	Carbon Intensity	Use Cases	India’s Policy Support
Green Methanol	≤0.44 kg CO₂eq/kg	Shipping, chemicals	SIGHT Mode‑2C, GMPA
Green Ammonia	≤0.5 kg CO₂eq/kg	Fertilizers, energy storage	SIGHT Mode‑2A auctions
Fossil Methanol	>2.0 kg CO₂eq/kg	Chemicals, fuels	No incentives

Risks & Challenges

• Financing: High upfront costs; long-tenor GMPA helps mitigate
• Technology Readiness: Scaling green hydrogen electrolysis and methanol synthesis
• Global Competition: EU shipping corridors and US Inflation Reduction Act subsidies may outpace India
• Compliance: Strict adherence to MNRE’s carbon intensity standards required

Next Steps

• SECI will finalize bids by September 2026
• Selected producers will begin supply under GMPA, with financial incentives for 3 years
• India aims to integrate green methanol into shipping fuel corridors and chemical industries

Why It’s the World’s Largest

• Scale: At 500,000 MT per annum, India’s tender dwarfs other announced projects. Most global initiatives (EU, US, China) are in the 50,000–200,000 MT range.
• Single Tranche: India has bundled half a million tonnes into one consolidated tender, unlike fragmented projects elsewhere.
• Global Benchmark: First structured offtake mechanism for green methanol at this scale, backed by a 10‑year GMPA.
• Policy Backing: Part of India’s National Green Hydrogen Mission, with SECI acting as central buyer.

Global Comparison

Country	Largest Announced Capacity	Structure	Status
India	500,000 MT (single tender)	SECI GMPA, 10 years	Tendering, 2026
EU	200,000 MT (multiple plants)	Shipping corridors, subsidies	Under construction
US	150,000 MT (IRA‑backed)	Private projects, tax credits	Announced
China	100,000 MT (regional pilots)	Provincial support	Operational pilots

India Hosts World’s 1st Commercial Deployment of Coolbrook’s RotoDynamic Heater™ at Adani Cement Plant

• Adani Cement’s Boyareddypalli plant in Andhra Pradesh will be the first cement plant globally to commercially deploy Coolbrook’s RotoDynamic Heater™ (RDH™) technology in the industrial space.
• RDH™ system will be powered entirely by Adani Cement’s large-scale renewable energy portfolio, ensuring that the industrial heat generated is completely carbon emission free.
• This commercial deployment is expected to directly reduce ~60,000 tonnes of CO₂ emissions annually with a potential to increase 10x in due course.
• Complements Adani Cement’s targets to increase AFR to 30% (upped from earlier target of 28%) while we achieve 60% green power share by FY28.

Adani Cement and Coolbrook announce their delivery agreement for the world’s first commercial deployment of the revolutionary RotoDynamic Heater™ (RDH™) technology to advance cement decarbonisation at the Boyareddypalli Integrated Cement Plant in Andhra Pradesh, India. This marks the first industrial scale deployment of Coolbrook’s RDH™ technology, advancing Adani Cement’s net-zero goals achievement by 2050 (validated by the SBTi) and Coolbrook’s goal of cutting 2.4 billion tonnes of annual CO₂ across heavy industry sectors globally.

This technology will decarbonise the calcination phase - the most fossil fuel-intensive stage of cement production. By providing clean heat to dry and enhance the heating value of alternative fuels, the technology enables a significantly higher substitution of fossil fuels with sustainable alternatives. This deployment is expected to directly reduce ~60,000 tonnes of carbon emissions annually with a potential to increase 10x in due course, marking a major step toward decarbonising cement manufacturing.

Critically, the RDH™ system will be powered entirely by Adani Cement’s large-scale renewable energy portfolio, ensuring that the industrial heat generated is completely emission free. This deployment demonstrates the real-world feasibility of clean, electrified industrial heat powered entirely by renewables. This positions Adani Cement to spearhead India’s emergence as the world’s clean manufacturing cement hub.

Mr Vinod Bahety, CEO - Cement Business, Adani Group, said: “The world’s first commercial deployment of Coolbrook’s RotoDynamic Heater™ within our operations marks a pivotal moment in our decarbonisation journey. This is a major leap towards achieving our net-zero goals. By integrating such cutting-edge electrification solutions into our cement production, we are accelerating the shift away from fossil fuels, reducing emissions at scale, enhancing the utilisation of clean energy sources, and setting a new standard for low-carbon cement manufacturing. This ongoing partnership reflects our unwavering commitment to climate leadership and delivering long-term value through innovation and sustainability. This milestone underscores our legacy as pioneers and highlights our transformative actions towards becoming a global building materials solutions powerhouse. We are building a stronger eco-system of partners like Coolbrook along with our R&D investments.”

The project provides a strong and scalable use case for deep industrial decarbonisation with significant potential for replication. Coolbrook and Adani Cement have identified multiple follow-on opportunities for deploying RotoDynamic Technology across Adani Cement’s industrial operations and share an ambition to launch at least five additional projects within the next two years.

Going forward, RDH™ technology will play a pivotal role in decarbonising Adani Cement’s production, improve process efficiency, and accelerate the Company’s sustainability goals including improving AFR (alternative fuels and resource materials) usage towards 30% and increasing the share of green power to 60% by FY28. The first generation RDH™ will deliver hot gases at around 1000°C, which will facilitate drying of alternate fuels, making its utilisation greener and more efficient, representing a breakthrough in high-temperature electrification for cement production.

“Entering into the first industrial-scale project in the world with Adani Cement marks a transformative step for industrial electrification in one of the world’s most vital cement markets,” said Mr Joonas Rauramo, CEO of Coolbrook. “Our mission is to make RotoDynamic Technology a new industry standard for decarbonising hard-to-abate sectors. Together, we’re redefining how cement is produced - cleaner, more efficient, and ready for a net-zero future.”

Adani Cement’s broader sustainability leadership is reflected in it being among the four large-scale cement companies globally to have SBTi-validated net-zero targets and global collaborations including being the world’s first cement manufacturer to join the Alliance for Industry Decarbonisation (AFID), under IRENA.

Adani Cement is the building materials solutions business of the diversified Adani Group, comprising the iconic and most trusted cement brands Ambuja Cements and ACC. As the 9th largest cement producer globally, Adani Cement has ~107 MTPA of installed capacity and accounts for nearly 30% of the cement used in India’s housing and infrastructure projects. The Company offers a broad portfolio of building materials and solutions, ranging from all-purpose cement and concrete grades to specialty products designed for challenging applications. Backed by cutting-edge R&D centres and a commitment to sustainability, Adani Cement is the fourth large scale globally to have its net zero goals validated by the SBTi and has pioneered green and specialised concrete technologies and advanced additives to reduce the carbon footprint of construction. Adani Cement’s mission is to build a stronger nation by delivering quality, innovation, and reliability in construction materials, supported by extensive technical services and a customer-centric approach. 

About Coolbrook:

Hailed as the key technology for industrial decarbonisation globally, Coolbrook is a transformational technology and engineering company on a mission to decarbonise major industrial sectors like petrochemicals and chemicals, iron and steel, and cement. Coolbrook’s revolutionary rotating technology combines space science, turbomachinery and chemical engineering to replace the burning of fossil fuels across all major industrial sectors. The technology has two main applications: RotoDynamic Reactor™ (RDR™) to reach 100% CO2 free olefin production, and RotoDynamic Heater™ (RDH™) to provide carbon-free process heating to iron and steel, cement and chemicals production. Once implemented at scale, the RotoDynamic Technology has the potential to reach temperatures of 1700°C and cut 2.4 billion tonnes (30%) of annual CO2 emissions in heavy industry. For more information, please visit www.coolbrook.com

Safe Harbour Statement

This press release contains forward-looking statements relating to Ambuja Cements Limited and ACC Limited’s future operations, performance, and financial outlook, which are based on current assumptions and expectations. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors such as changes in market conditions, economic developments, regulatory requirements, industry dynamics, and unforeseen circumstances may impact the company’s performance. Ambuja Cements Limited and ACC Limited undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For a detailed discussion of these risks, please refer to our filings with the Securities and Exchange Board of India (SEBI) and other relevant regulatory authorities.

Siemens and London Varsity's Innovative Use of River Thames to Save 258 Tons of Carbon Emissions Annually

The River Thames is one of the most iconic rivers in the world, flowing through southern England, including the heart of London. Stretching approximately 346 kilometers (215 miles), it is the longest river entirely in England and the second-longest in the United Kingdom after the River Severn.

A new innovative initiative by University of East London (UEL) in partnership with Siemens Smart Infrastructure is using the river Thames' heat for projects for the University of East London's net-zero campus highlight its role in combating climate change.

The River Thames serves as a heat source due to its stable water temperature, which remains relatively constant throughout the year. This stability makes it an excellent candidate for heat exchange systems like Water Source Heat Pumps (WSHPs), which extracts energy from the water and turns it into heat, even when the water temperature is lower than the air temperature

Even at low temperatures, water contains thermal energy. The River Thames, being a large body of water, stores significant amounts of this energy.

Taking a significant step toward sustainability, the University of East London (UEL) is harnessing the River Thames to power its net-zero campus. In collaboration with Siemens, UEL is installing a state-of-the-art Water Source Heat Pump (WSHP) at its Docklands Campus.

This innovative system will replace traditional gas boilers, significantly reducing carbon emissions by 258 tons annually.

The Innovative System

The WSHP system uses submerged pipes in a closed-loop system to extract the natural heat from the river. The heat is then transferred to a refrigerant, which amplifies it through a compression cycle.

The amplified heat is used to warm buildings, while the cooled water is returned to the river without disrupting its ecosystem.

The WSHP uses a closed-loop system to extract natural heat from the River Thames without disrupting the river's ecosystem. This project aligns with UEL's goal of achieving the lowest carbon emissions per student in the UK by 2026 and reaching net-zero emissions by 2030.

Beyond environmental benefits, the initiative is expected to save the university over £500,000 annually (approximately US $645,000 and  ~ INR ₹ 5.62 crore) in utility costs and has already inspired green employability programs, internships, and research opportunities. It also supports the Mayor of London's vision for a sustainable and greener city.

The new WSHP is set to be the largest fitted at any university in the UK and will power the university’s Docklands Campus Library and Royal Docks Centre for Sustainability buildings, replacing existing gas boilers.

This innovative use of the river Thames not only reduces reliance on fossil fuels but also supports sustainability goals, as seen in projects like the University of East London's net-zero campus initiative

What technology does the Water Source Heat Pump (WSHP) use?

Water Source Heat Pumps (WSHPs) utilize advanced heat exchange technology to provide efficient heating and cooling. Here's how they work:

1. Heat Exchange Process: WSHPs extract heat from a water source, such as a river, lake, or well, using a closed-loop system. This system circulates water through a heat exchanger, where heat is absorbed or released depending on the heating or cooling needs.
2. Refrigeration Cycle: The pump uses a refrigerant to amplify the heat transfer process. This cycle allows the system to efficiently move heat from the water source to the building or vice versa.
3. Energy Efficiency: By leveraging the stable thermal properties of water, WSHPs achieve higher energy efficiency compared to air-source systems, especially in colder climates.
4. Environmental Benefits: These systems reduce reliance on fossil fuels, significantly lowering carbon emissions and contributing to sustainability.

This innovative technology is not only eco-friendly but also cost-effective, making it a popular choice for modern heating and cooling solutions.

SAP and Ambipar Unveil Net Zero as a Service, for Businesses to Manage and Offset Carbon Emissions

SAP and Ambipar have announced a new initiative called Net Zero as a Service. This partnership aims to help businesses manage and offset their carbon emissions more effectively. By combining SAP's robust cloud solutions with Ambipar's expertise in carbon credit generation and trading, the service provides a comprehensive solution for the entire decarbonization journey.

Key features include:

End-to-end carbon management: SAP's ERP-centric and AI-enabled solutions allow businesses to measure emissions accurately and make informed decisions.

Carbon credit purchasing: Customers can neutralize their emissions by buying internationally certified carbon credits through Ambipar's platform, AMBIFY, available on the SAP Store.

Scalability: Ambipar is currently piloting this service in its own operations and plans to make it widely available to SAP customers soon.

This initiative underscores both companies' commitment to sustainability and helping organizations achieve their net zero goals. 

Infosys Along with AEEE and IIHS to Decarbonize India’s Commercial Building Sector

Infosys has taken a significant step towards sustainability by collaborating with the Alliance for an Energy Efficient Economy (AEEE) and the Indian Institute for Human Settlements (IIHS) to decarbonize India's commercial building sector. This initiative, named 'ASSURE' (Accelerating Sustainable and Super-efficient Real Estate), aims to realize 100 million sq. ft. of high-performance commercial buildings in India by 2030.

The program is designed to be the world's largest organized effort to implement high-performance buildings at scale. It will bring together experts, innovators, enterprises, and the government to provide technical assistance to lighthouse projects, develop ecosystem-wide capacity, and demonstrate viability inspired by Infosys' campuses¹. Additionally, ASSURE will foster entrepreneurship, collaborate with government agencies to create a supportive policy environment, and engage with large financial institutions to implement these high-performance commercial buildings.

Nandan Nilekani, Co-founder and Chairman of Infosys, emphasized the opportunity this collaboration presents for India's building sector to contribute significantly to the nation's sustainability goals. He expressed enthusiasm about amplifying the potential of the nationwide community of industry leaders, practitioners, knowledge institutions, and students to drive positive climate action.

ASSURE is not just about meeting global standards but setting new ones, with rigorous performance validation and ambitious emissions reduction targets to transform building practices and drive real change. Infosys, which became carbon neutral in 2020, is continuing its efforts to realize its ESG 2030 vision and transition to low-carbon operations. This collaboration marks a pivotal step in paving the way for a greener and more sustainable future.

Infosys is an early mover in setting and achieving ESG goals, advocating for responsible business over the decades. Infosys became carbon neutral in 2020, 30 years ahead of the timeline set by the Paris Agreement and has aggressively progressed commitments and efforts to realize its ESG 2030 vision, and transition to low-carbon operations.

SAIL Partners SaaS Startup Sentra.World for Carbon Emission Tracking and Reduction

The Steel Authority of India Limited (SAIL) has partnered with the Bengaluru-based SaaS startup Sentra.world to pioneer carbon emission reduction in steel production.

This collaboration involves using Sentra.world's advanced carbon tracking software at SAIL's Durgapur Steel Plant and its Environment Management Division.

sentra.world is a B2B SaaS carbon accounting software company that helps industrial businesses measure, report, certify, and reduce their carbon emissions.

The initiative is a significant step towards sustainable and eco-friendly practices in the steel industry, aiming to comprehensively monitor and manage carbon dioxide emissions across various production facilities. This partnership aligns with global efforts to decarbonize economies and minimize the environmental impact of industrial activities.

Founded in 2023 by two ex-McKinsey junior partners — Harsh Choudhry and Vikas Upadhyay — each with 16+ years of experience in sustainability, industrial manufacturing and digital technology, Sentra.world's software help industrial companies track and reduce their CO2 emissions. It uses a combination of AI and blockchain technology to provide a comprehensive view of emissions, employing various methods for accurate assessments.

The software uses recognized methodologies like the GHG protocol and standards set by the World Steel Association to measure CO2 emissions.

The startup is headquartered in Bangalore and has received a total funding of $2.0 million from investors such as Avaana Capital, Golden Sparrow Ventures and RPG Ventures.

Sentra.world's software is gaining traction in the industrial sector, particularly among companies focused on sustainability and carbon emission reduction. The software is designed to cater to industries such as Steel, Aluminum, Cement, Chemicals, and Utilities. These sectors are critical for decarbonization efforts due to their significant greenhouse gas emissions. Sentra.world's approach, which combines AI and blockchain technology, is particularly suitable for businesses looking to meet ESG compliance, access new markets, and reduce costs while managing their environmental footprint.

Bill Gates, Amazon backed Startup Opens World's 1st Green Steel Plant

Electra, a startup backed by Bill Gates and Amazon, has opened its first steel production plant in the United States. This pilot plant, located in Colorado, utilizes renewable energy to produce clean metallic iron from high-impurity ores. The process aims to create "green" steel, which could significantly reduce the environmental impact of steel production.

By integrating renewable energy resources, Electra achieves emissions-free iron production at a much lower temperature than traditional coal-fired furnaces. Their clean iron has a purity of over 99%, making it valuable for electric arc furnace (EAF) steelmakers. This innovative approach represents a significant step toward a cleaner and more sustainable steel industry.

Electra has developed a groundbreaking process for green steel production. Electra's method operates at a mere 60 degrees Celsius (around the temperature of coffee), which is significantly lower than traditional steelmaking processes that rely on coal-fired furnaces. Electra uses a proven industrial-scale electrochemical and hydrometallurgical process. Here are the key steps:

• Dissolving Iron Oxide: First, they dissolve iron oxide ore in an aqueous acid solution.
• Precipitating Metals: This step allows them to selectively refine the main impurities in iron ore, such as alumina and silica, as co-products.
• Direct Reduction: Electra directly reduces iron oxide into iron without the need for a blast furnace or coal burning.

The result is high-purity, gangue-free iron metal with a purity of over 99%. This clean iron can be charged directly into electric arc furnace (EAF) steelmakers, making it valuable for steel production.

 

Electra's Melissa Mansour, Faxson Cockrell, Colleen Wallace, Ben Whitman and Michael Street inspect a plate of iron from Electra's low-temperature iron electrowinning cell at its pilot plant in Boulder, Colorado.

This is a significant improvement compared to traditional steelmaking methods that rely on melting high-grade ores with coal, emitting 10% of global carbon dioxide emissions.

Electra's pilot plant represents a significant step toward a cleaner, more sustainable, and circular steel industry. Partnerships across the value chain support their goal of producing millions of tonnes of clean iron by the end of the decade.

In summary, Electra's process aims to bend the trajectory of climate change by creating green steel through innovative technology and sustainable practices.

In October 2022, Electra raised $85 million in Series B round of funding from notable group of backers including Bill Gates-founded Breakthrough Energy Ventures, Amazon, BHP Ventures, Temasek, S2G Ventures, Capricorn Investment Group, Lowercarbon Capital, Valor Equity Partners, and Baruch Future Ventures.

Several other companies are also actively working on green steel production, aiming to reduce the environmental impact of steelmaking.

Swedish startup, H2 Green Steel, is building a large-scale plant in Sweden that will produce steel using hydrogen made from renewable energy instead of coal. By the end of next year, they plant to begin making steel for customers like Ikea and Mercedes-Benz. Their goal is to produce 5 million tons of green steel annually.

Boston Metal uses electrolysis to create steel from iron ore. By leveraging this innovative process, they aim to reduce emissions associated with traditional steel production.

Arcelor Mittal and China Baowu Group have also announced commitments to net-zero steelmaking, championing solutions for a more sustainable industry.

Adani Total Gas and Shigan Ink MoU To Develop Alternative Fuel Retrofitment and Other Supply Chain Decarb Solutions

Adani Total Gas, Shigan sign MoU for

collaboration in decarbonization

• Will explore retrofitting ICE engines to run on alternate fuels like CNG & LNG
• Primary focus of retrofitment solution will transportation and mining applications
• Partners to also explore other applications like stationary engines, locomotives, and marine equipment
• Will contribute to development of ecosystem by bringing together key stakeholders
• Will explore e-mobility based solutions for last mile delivery players

In a move towards sustainability and environmental responsibility, Adani Total Gas Limited (ATGL), India’s leading energy and city gas distribution company, and Shigan Quantum Technologies Limited (Shigan), an alternative fuel system solutions provider for automotive, locomotive and stationary engine applications, today announced the signing of a Memorandum of Understanding (MoU) that aims at decarbonizing the supply chain by creating an ecosystem which will enable transitioning to cleaner fuels such as CNG and LNG. Under the MoU, both ATGL and Shigan will explore various areas of collaboration.

Shigan manufactures alternative fuel system solutions for automotive OEMs (original equipment manufacturers) and aftermarket. The primary focus of both the partners will be on adopting natural gas for transportation and mining applications through sustainable solutions for fleet operators, including those deployed by Adani Group companies in sectors like cement, ports and logistics. The LNG retrofitment solution also will explore various applications like stationary engines, locomotives and marine equipment.

Besides developing CNG/LNG-based retrofitment solutions, the partnership will explore developing e-mobility based solutions for last mile delivery players and use cases for green hydrogen as fuel for ICE (internal combustion engine) vehicles.

ATGL and Shigan are confident that the collaboration will have a positive impact on the environment and the broader business community. The MoU will enable both parties to prioritise their sustainability efforts without compromising on operational efficiency.

Mr Suresh P. Manglani, Executive Director and CEO, ATGL, said, “The signing of the MoU represents a collective vision for a greener, more sustainable future. We look forward to co-developing end-to-end solutions, which will support the transport and mining industries in their decarbonization journey and contribute to the net zero commitments of the country.”

Mr. Shishir Agrawal, Managing Director, Shigan, expressed enthusiasm about the collaboration, stating, “This MoU marks a significant step forward in our joint commitment to environmental responsibility. By transitioning to cleaner fuels, we aim to not only reduce our carbon footprint but also inspire positive change within industry."

About Adani Total Gas Limited

Adani Total Gas Limited is in the business of development of city gas distribution (CGD) networks for continuous supply of piped natural gas (PNG) and compressed natural gas (CNG). These networks provide natural gas as a convenient, economical, reliable, and environmentally friendly fuel option, offering consumers safety and convenience.

ATGL is co-promoted by the Adani Group and TotalEnergies. It has a presence across 33 Geographical Areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix. Further, ATGL has a joint venture with Indian Oil Corporation, which is also in the business of city gas distribution and has a presence across 19 geographical areas. With these 52 Geographical Areas, ATGL is one of the largest CGD companies in India. Further, with a consumer centricity approach, ATGL entered into the e-mobility and biomass businesses and incorporated two wholly owned subsidiaries – Adani TotalEnergies E-mobility Limited (ATEL) and Adani TotalEnergies Biomass Limited (ATBL). These new businesses will provide a choice of fuels to consumers. ATGL has also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited, for its gas meter manufacturing business. ATGL is planning to set up liquified natural gas (LNG) dispensing stations to cater to medium and heavy-duty transportation consumers.

For more information, please visit https://www.adanigas.com/

About Shigan Quantum Technologies Limited

Established in 2008, Shigan Quantum Technologies Limited is engaged in the business of designing, developing and manufacturing of various types of alternate fuel systems including CNG, LNG, Hydrogen Fuel Kit systems for automotive, locomotive, stationary engine applications, heavy duty vehicles, light duty vehicles and off-highway applications. Shigan is the only company in India, who has completely indigenized BS-VI + OBD-II CNG fuel system, to provide advanced technology at Indian price, for Indian Automotive OE customers.

In addition to being alternative fuel system solution providers, Shigan has diversified into automatic fire detection and suppression system (FDSS) and FAS/FPS for automotive application and have indigenized the complete FDSS, FAS & FPS and commenced production for supplies to OEMs.

For more information, please visit, https://www.shigan-quantum.com/

Decarbonisation Platform Serentica Renewables Signs 1.25 GW Round-The-Clock Green Energy Agreements

The Company will install 4GW of renewable capacities that will help in offsetting 8.5 million tonnes of CO2 emissions annually

Serentica Renewables ("Serentica" or the "Company") announced that it has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. This is in addition to the 580 MW PDAs that were signed in March 2023.

To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country. The projects will deploy both wind and solar capacities, supplemented with balancing solutions like energy storage. Serentica is setting up these solar and wind capacities across the states of Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS).

With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 BUs of clean energy annually, thereby offsetting 8.5 million tonnes of CO2.

Speaking on the significant increase in the Company's portfolio, Akshay Hiranandani, CEO of Serentica Renewables, said, "India's energy transition must progress unabated to meet the dual objectives of its ever-increasing energy requirements and the fight against climate change. Serentica's growing portfolio of renewable energy assets is a testament to its commitment to address the toughest challenges of clean energy delivery and decarbonize India's industrial backbone."

Serentica is focused on industrial decarbonization and aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. Serentica's medium-term goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.

About Serentica Renewables  

Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial and industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions. The company has already secured investments worth $650 million from leading global investor KKR.

For more details on Serentica, please visit www.serenticaglobal.com