Akzo Nobel N.V. announced the completion of the sale of Akzo Nobel India Limited (ANIL) to the JSW Group. It is one of India’s leading diversified conglomerates. This closing marks a major milestone in AkzoNobel’s strategic portfolio review announced in October 2024.

Transaction Covers Liquid Paints and Coatings Business

As per the press release, the deal includes AkzoNobel’s liquid paints and coatings business in India. However, the India Powder Coatings division and the International Research Center will continue under full AkzoNobel ownership. It will remain part of its global operations. The transaction values the enterprise at approximately €1.4 billion, reflecting an EV/EBITDA multiple of 25x.

Strengthening Strategic Focus

Greg Poux-Guillaume, CEO of AkzoNobel, said, “Today’s closing is an important step in sharpening our strategic focus and positioning AkzoNobel for long-term value creation. We thank our colleagues in India for their many contributions and welcome JSW, an ambitious and committed partner, as it takes over the business in the region’s fast-growing paints and coatings market.”

JSW Group Welcomes AkzoNobel India Team

Sajjan Jindal, Chairman, JSW Group, said, “I am happy to welcome the AkzoNobel India team to the JSW Family. We have always believed that India deserves trusted, world-class paints and coatings. With Dulux, we’re proud to bring global quality to homes and industries across India. Together, there’s an incredible opportunity here to build a stronger, brighter and more colorful future for our customers and for India.”

Building the Paint Company of the Future

Parth Jindal, Managing Director, JSW Paints, added, “We are delighted to welcome Akzo Nobel India into the JSW family. This is a historic occasion, marking one of the largest acquisitions in India’s paints and coatings market. Together with the Akzo Nobel India family—employees, customers and partners—we aspire to build the paint company of the future. With the Magic of Dulux and Thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders.”

DCM Shriram Limited, a diversified Indian conglomerate, and Bayer CropScience Limited, a global player in crop solutions, signed a Memorandum of Understanding (MoU) to jointly explore opportunities that advance India’s agriculture ecosystem. The collaboration focuses on innovation, sustainability, and farmer-centric solutions.

Strategic Collaboration to Drive Agricultural Innovation

The MoU creates a strategic framework for collaboration across multiple areas, including agri-inputs, digital advisory tools, sustainable farming practices, and value-chain development. Through this partnership, both companies will work to introduce advanced crop solutions, improve resource efficiency, and support climate-resilient agriculture.

Synergies in Crop Solutions and Digital Platforms

Under the partnership, DCM Shriram and Bayer will explore synergies in seeds, specialty plant nutrition, biologicals, and integrated crop management. They also plan to evaluate opportunities across digital tools and advisory platforms to help farmers make more informed and timely decisions.

In addition, both organisations will assess possibilities for jointly supporting farmer producer organisations and running pilots in areas such as soil health, carbon sequestration, and sustainable agriculture initiatives. Opportunities for collaboration in select areas of the chemicals business will also be examined.

Leadership Voices

Ajay S. Shriram, Chairman and Senior Managing Director, and Vikram S. Shriram, Vice Chairman and Managing Director, DCM Shriram Ltd, said, “We are delighted to partner with Bayer to explore new avenues that can benefit India’s farming communities. By bringing together complementary strengths, we aim to support sustainable and productive agriculture while creating long-term value for farmers and the wider ecosystem.”

Simon Wiebusch, Chief Executive Officer, Bayer CropScience Ltd, said, “Indian agriculture is entering a phase where resilience and value-chain integration will define long-term success. With this partnership, Bayer and DCM Shriram can enhance market access, strengthen value-chain connections, and help farmers tap into emerging opportunities. Our combined and complementary expertise enables us to scale solutions quickly and create lasting positive change.”

Aimed at Improving Productivity and Farmer Livelihoods

By combining Bayer’s global expertise in advanced agricultural solutions with DCM Shriram’s strong rural presence and integrated agri-business operations, the partnership aims to deliver high-impact support to India’s farmers. As per the press release, the companies plan to enhance agricultural productivity and strengthen market linkages. They also aim to promote climate-resilient, sustainable farming practices.

The government is actively strengthening global partnerships to accelerate the growth of geothermal energy. The recently notified National Policy on Geothermal Energy (15 September 2025) encourages:

*Bilateral and multilateral technology cooperation

*Knowledge sharing between international partners

*Joint research and development to adapt proven geothermal technologies to Indian conditions

These measures aim to accelerate the adoption of efficient, cost-effective geothermal solutions in India.

Existing International Cooperation Mechanisms

The Ministry of New and Renewable Energy (MNRE) established cooperation mechanisms with countries including Australia, Iceland, Saudi Arabia, and the United States to support geothermal development and technology transfer.

India’s Geothermal Potential

According to the Geothermal Atlas (2022) by the Geological Survey of India (GSI):

*India’s theoretical geothermal resource potential is 10,600 MW

*381 hot springs have been mapped across the country

*42 geothermal manifestations have been identified as promising sites for power generation and direct heat applications

Repurposing Abandoned Wells for Geothermal Energy

The policy also highlights opportunities to repurpose abandoned oil and gas wells for geothermal energy recovery. It provides:

*Technical guidance for converting wells into geothermal production assets

*Support for pilot demonstrations

*Regulatory backing to encourage investment in geothermal extraction

Looking Ahead

Through international collaboration, advanced R&D, and targeted policy support, India aims to unlock its geothermal potential and diversify its renewable energy mix. As reported by knnindia.co.in, the National Policy on Geothermal Energy sets the stage for sustainable growth, technological adaptation, and increased clean-energy deployment across the country.

AMPIN Energy Transition is set to make a major investment in West Bengal’s clean-energy landscape, committing over ₹1,000 crore to build solar cell manufacturing capacity and expand solar power infrastructure. The move strengthens the company’s presence in Eastern India and supports the state’s growing demand for renewable energy.

Large-Scale Solar Cell Facility Planned

The company plans to invest around ₹700 crore to establish a 1–2 GW solar cell manufacturing facility. AMPIN is currently assessing land parcels within industrial parks, with the unit expected to require 15–20 acres.

Additional ₹300 Crore for Solar Power Plants

Beyond manufacturing, AMPIN will invest another ₹300 crore to develop new solar power plants in West Bengal. These projects will help strengthen regional energy reliability and accelerate clean-energy adoption across commercial and industrial users. AMPIN already operates more than 5 GWp of renewable assets in 22 states, spanning solar, wind, hybrid, and battery-based systems. The planned expansion will enhance the company’s ability to serve emerging green-energy demand in the eastern region, including data centres transitioning to renewable power.

Strengthening India’s Solar Value Chain

Industry experts view this investment as a significant boost for India’s domestic solar value chain—particularly in a region with limited manufacturing activity to date. The new facility will support India’s mission to reduce import dependence on solar components and ramp up local production capacity. In parallel, the establishment of new solar power plants will improve supply stability, lower emissions, and support West Bengal’s renewable-energy goals.

Boost to West Bengal’s Industrial Ecosystem

The decision reflects AMPIN’s confidence in West Bengal’s industrial policies and its potential to emerge as a renewable-energy hub. With more commercial and industrial consumers seeking to decarbonise their operations, the state will attract strong clean-energy investments. As reported by businessworld.in, if executed as planned, this project could become a benchmark for solar manufacturing growth across Eastern India. It will create new opportunities, strengthening local ecosystems, and accelerating the region’s green transition.

The Adani Group revealed plans to invest more than $75 billion over the next five years to fast-track India’s shift toward renewable energy. Chairperson Gautam Adani described green energy as one of the world’s most significant future growth engines. He made these remarks during the centennial celebration of IIT (ISM) Dhanbad.He said clean energy will redefine global industry in the coming decades.

Driving Growth Across the Green Energy Value Chain

Adani explained that the green energy revolution will reshape multiple sectors. The transition will expand into electricity-based manufacturing, green steel, green fertilizers, hydrogen ecosystems, and digital infrastructure, creating widespread economic and technological impact. These emerging industries, he noted, will not only drive India’s industrial growth but also strengthen the global movement toward sustainability.

World’s Largest Renewable Energy Park Takes Shape at Khavda

In a major milestone, the Adani Group recently completed the installation of its 10-gigawatt (GW) renewable energy facility at Khavda, Gujarat—the largest solar generation project under development worldwide. Spanning nearly 520 square kilometers, this mega-facility marks a decisive step in scaling India’s clean power capacity. The entire project will be completed by 2030, expanding total capacity to 30 GW. Once operational, it will generate enough green electricity to power over 60 million Indian homes every year. This will set a global benchmark for cost-efficient renewable energy production.

Strengthening India’s Mining and Critical Minerals Capabilities

Transitioning to clean energy requires strong mineral and resource capabilities. Adani emphasized the need for India to enhance its domestic mining ecosystem to support its strategic energy and technology ambitions. He highlighted the critical importance of minerals such as rare earth elements, lithium, copper, silicon, and uranium, which form the backbone of technologies like:

*Renewable energy systems

*Electric mobility

*Artificial Intelligence (AI) infrastructure

*Semiconductor manufacturing

Adani stressed that everything from AI chips and hyperscale cloud data centers to digital engines depends on resources extracted from the Earth. As a result, mining now plays a central role in shaping the new digital and clean-tech economy.

Building the Foundation for India’s Clean-Energy Future

As reported by ibef.org, with its massive investment plan and ground-breaking projects, the Adani Group is positioning itself at the forefront of India’s green energy transformation. The company aims to create a robust and sustainable ecosystem that supports long-term economic growth. It also seeks to advance the nation’s clean-energy and technology goals.

Trontek, a lithium-ion battery manufacturer, entered the residential energy storage market with the launch of Powercube 1.4 kWh and Powercube 2.7 kWh. These are the company’s first direct-to-home lithium-ion battery systems designed to deliver reliable, long-life, and solar-integrated backup power for Indian households.

Strategic Shift Toward Consumer-Centric Solutions

With this launch, Trontek moves beyond its strong position as a leading OEM supplier and steps into the consumer energy solutions space. The Powercube range is available in 1.4 kWh and 2.7 kWh capacities, each in Standard and Premium variants.

The Standard series includes the Powercube 1.4 with a compact SOC indicator and the 2.7 model without an SOC display.

The Premium 1.4+ kWh and 2.7+ kWh models feature an advanced LED status display for better visibility and monitoring.

Trontek will roll out the full range across regions with high rooftop solar usage, growing home energy needs, and frequent power interruptions.

Built on Proven Lithium-Ion Expertise

Leveraging two decades of engineering experience, advanced BMS architecture, and robust safety testing, Trontek brings its proven capabilities from electric mobility and industrial applications directly into homes. The Powercube series supports both grid backup and hybrid solar setups, offering:

*Higher storage efficiency

*Longer lifecycle

*Superior performance compared to lead-acid batteries

This makes the systems ideal for modern, energy-conscious homes seeking cleaner and smarter power alternatives.

A Vision for India’s Clean Energy Future

Samrath S Kochar, Founder and CEO of Trontek, said, “India is entering a new energy era where self-reliance, electrification, and renewable integration are converging faster than ever before. Our Powercube series is designed for this moment—an India that wants cleaner backup power, smarter storage, and future-ready solutions. As rooftop solar expands and residential energy needs grow more complex, home-level storage will sit at the heart of our energy transition. By bringing our technology directly to households, we aim to accelerate India’s progress toward a cleaner, more resilient, and energy-independent future.”

Empowering Homes and Small Businesses

The Powercube launch marks a key milestone in Trontek’s evolution. Trontek has built a strong portfolio in electric mobility, especially in e-rickshaws, two-wheelers, three-wheelers, and industrial systems. The company is now extending its solutions to families, small businesses, and solar-powered homes. Trontek continues to invest in R&D, materials optimization, safety engineering, and manufacturing. These efforts help the company position itself as a long-term enabler of India’s clean-energy transformation.

Availability and Consumer Awareness Initiatives

As per the press release, Powercube 1.4 kWh and 2.7 kWh systems will be available through Trontek’s authorised distributors and channel partners. The company also plans awareness programs to educate consumers on the benefits of lithium-ion storage. This is especially for solar-linked homes, where charging time, efficiency, and lifecycle matter.

Organic Recycling Systems Limited (ORSL), in collaboration with IIT Bombay (IITB) and IIT Kharagpur (IITKgp), has secured a landmark research grant under the DBT–BIRAC Joint Call on Carbon Capture and Utilization (CCU). ORSL is now the first Indian company to receive this prestigious grant for CCU under the BioE3 Policy for High-Performance Biomanufacturing.

Transforming CO₂ Management in the CBG Sector

India’s Compressed Biogas (CBG) industry continues to grow rapidly, yet many plants still vent or flare large volumes of purified CO₂ due to limited utilisation pathways. The new Bio-CCU platform developed by ORSL and its partners aims to change this landscape.

Using advanced biotechnological and photocatalytic interventions, the platform can convert unutilised CO₂ into bio-alcohols, specialty chemicals, nutritional supplements, and industrial additives. This breakthrough approach will create new revenue streams and significantly improve the economics of CBG plants across the country.

About the Project

The project, titled “Integrating Biotechnological Interventions to Capture and Utilize CO₂ from Biogas via Algal Cultivation and Photocatalytic Conversion to Mixed Alcohols”, will be implemented at the ORSL Research Innovation Centre (RIC) in Navi Mumbai.

Duration: 24 months

Project Cost: INR 187.17 lakh

The initiative will support India’s national missions on net-zero emissions, circular carbon economy, waste-to-wealth innovation, and sustainable biomanufacturing.

Leadership Insights

Sarang Bhand, Managing Director, ORSL, stated, “This project is a major milestone for India’s bioenergy and carbon circularity roadmap. To meet the target of reducing carbon intensity by 45% by 2030, we must accelerate public and private R&D efforts. Collaborations between academia and industry are crucial to shortening the technology development cycle and enabling successful pilot demonstrations. The IITB–IITKgp–ORSL partnership is the first step toward building innovative CCU and clean-tech solutions. The BIRAC grant under the BioE3 program will be pivotal in redefining how India manages and valorises biogenic CO₂.”

ORSL R&D Perspective

Dr. Manju Tanwar, Chief Scientist and Principal Investigator, ORSL, added, “This project brings together frontier biotechnology, algal engineering, and MXene-based photocatalysis at a scale not previously attempted in India. Our objective is to build a near-zero CO₂ emission biogas platform that sets a new national benchmark in the Waste to Energy sector.”

Academic Partners on Scientific Innovation

Prof. Dr. Indrajit Chakraborty, IIT Bombay, said, “Advanced photobioreactor-based CO₂ fixation offers a high-impact pathway for sustainable carbon utilisation. This collaboration will help create a replicable model for India’s evolving energy infrastructure.”

Prof. Dr. Koustuv Ray, IIT Kharagpur, highlighted, “Selective photocatalytic conversion of CO₂ into mixed alcohols has immense potential for future biorefineries and green chemical manufacturing. The multidisciplinary nature of this project is key to driving climate-relevant innovation.”

Driving India’s Leadership in Indigenous CCU Technologies

ORSL is the first Indian company to win this grant. It is set to lead the development of home-grown CCU solutions, transforming biogas plants nationwide and accelerating industrial decarbonisation. ORSL and its partnering institutes expressed gratitude to DBT, BIRAC, and the Government of India. They thanked them for creating an enabling ecosystem for breakthrough CCU innovations. These forward-looking national initiatives are strengthening India’s capabilities in sustainable biomanufacturing, clean energy transition, and industrial-scale decarbonisation.

Anupam Rasayan India Ltd., a custom synthesis and specialty chemicals manufacturer, has signed a definitive agreement to acquire 100% equity in Jayhawk Fine Chemicals Corporation (“Jayhawk”), a U.S.-based specialty chemicals company and part of the CABB Group. Anupam Rasayan values the acquisition at approximately $150 million, covering Jayhawk’s equity and existing shareholder loans.

With around $16 million in cash and cash-like items as of June 2025, the purchase consideration translates to an enterprise value of ~$134 million. In CY24, Jayhawk reported ~$78 million in revenue and ~$15 million in adjusted EBITDA, representing an EV/EBITDA multiple of ~9x. The transaction will be funded through internal accruals, debt, and quasi-equity from a global investment management firm with over $100 billion in AUM. The acquisition will be EPS accretive for Anupam Rasayan.

Strategic Rationale and Long-Term Synergies

The acquisition marks a major milestone in Anupam Rasayan’s global expansion strategy. By entering onshore manufacturing in the U.S., the company gains immediate access to established operations, a strong customer base, and critical end-user markets. This step significantly boosts Anupam’s visibility among leading multinational clients.

Expanding the Performance Materials Portfolio

Jayhawk brings a robust portfolio of high-value dianhydrides and polyimide intermediates, essential for semiconductors and high-performance materials. This addition enhances Anupam’s polymer portfolio and positions the company as a competitive integrated player in a rapidly growing materials segment.

Accelerating Forward Integration and Customer Synergies

Anupam Rasayan has strengthened its value chain over the years—starting with the acquisition of Tanfac for backward integration in fluorination chemistry. With Jayhawk, the company now moves closer to end applications by manufacturing key N-1 molecules for high-value sectors such as electronics, aerospace, and semiconductors. The combined strengths of both companies will open cross-selling opportunities, support downstream product development, and deepen relationships with global customers.

Creating a Cost-Efficient, Dual-Site Manufacturing Model

The integration of Jayhawk’s advanced U.S. operations with Anupam’s cost-efficient, backward-integrated facilities in India creates a strong dual-site offering. This model allows global customers to choose between localized production in the U.S. or scalable manufacturing in India. It enhances flexibility and strengthens supply chain reliability.

Boosting Innovation Through R&D Collaboration

According to the press release, the acquisition combines Jayhawk’s state-of-the-art R&D and analytical capabilities with Anupam’s strong process chemistry expertise. It also leverages Anupam’s scale-up strengths. This collaboration is expected to speed up innovation, shorten development timelines, and enhance value delivery across global markets.

Leadership Insights

Anand Desai, Managing Director of Anupam Rasayan India Ltd., said, “This acquisition is a transformative step in Anupam’s global journey. Jayhawk Fine Chemicals brings a legacy of innovation, strong customer relationships, and advanced technology in high-value chemistries. Together, we will leverage our complementary strengths to accelerate growth and deliver greater value across key sectors such as aviation, semiconductors, and electronics. Jayhawk’s U.S. operations significantly enhance our global footprint and position us closer to strategic customers in developed markets.”

CABB Group’s Perspective

Tobias Schalow, CEO of CABB Group, added, “This transaction marks a strategic step for our company, and we have made this decision with full confidence in the new owner. CABB will continue strengthening its scalable platform in Pharma and Life Science specialties while moving away from industrial applications and semiconductors. We believe Anupam Rasayan is well positioned for long-term growth with the Jayhawk team, and we wish them continued success. We also extend our deepest gratitude to the dedicated Jayhawk team, whose commitment has been essential to our success.”

Indorama Ventures Public Company Limited (IVL), a global sustainable chemicals player, secured the top global ranking with a green card in ChemScore 2025. ChemScore, developed by ChemSec, is an internationally recognized benchmark that evaluates the environmental performance and chemical management of the world’s 40 largest chemical companies.

This year’s recognition strengthens Indorama Ventures’ long-standing position as a top performer. The company has consistently ranked among the top three ChemScore companies and earned twice the average score of Asia-based competitors. The achievement highlights IVL’s strong commitment to balancing business resilience with environmental and social responsibility.

What ChemScore Measures

ChemScore is widely used by global investors, regulators, and multinational brands to assess companies across four key pillars:

*Responsible chemical management

*Development of safer and sustainable alternatives

*Transparency and disclosure

*Long-term stewardship across the value chain

In the 2025 assessment, Indorama Ventures scored 57 out of 100 and received a green card. The company’s performance across categories included:

*Transparency: 12/25

*Phase-out of Persistent Chemicals: 23/25

*Product Portfolio: 13/25

*Safer Solutions: 9/25

These scores reflect IVL’s steady progress toward safer chemistry and responsible product innovation.

Leading Through Safer Chemistry and Innovation

ChemSec recognized Indorama Ventures for systematically applying the Substitute It Now (SIN) List to phase out hazardous substances. By accelerating the development of safer alternatives and expanding bio-based and hazard-free recycled feedstocks, IVL stays ahead of tightening EU and U.S. regulations on persistent chemicals. This forward-looking approach also aligns with growing global demand for safer, traceable, and more circular materials across sectors such as consumer goods, automotive, health and hygiene, and industrial applications.

Leadership Perspectives

Yash Lohia, Executive President of Petchem and Chairman of the ESG Council at Indorama Ventures, stated, “Indorama Ventures is honored to be recognized as the top global performer, ranking first in ChemScore 2025. This achievement reflects the dedication of our teams worldwide, who work every day to strengthen health and safety, reduce our chemical footprint, and advance excellence in chemical management. We appreciate the guidance from ChemSec and the IIHC, which continues to raise industry standards. This recognition reaffirms our commitment to delivering safer, greener, and more circular solutions for our customers and communities.”

Recognition from ChemSec

Sonja Haider, Head of Sustainable Finance at ChemSec, added, “ChemSec congratulates Indorama Ventures on securing the leading position in this year’s ChemScore ranking. Since the very first evaluation, the company has stood out for its strong commitment to operating without hazardous substances. Its transparent practices set a benchmark for the industry. We hope this achievement inspires others to accelerate the transition toward safer and more sustainable chemistry.”

Strengthening Investment Appeal and Industry Leadership

As ChemScore increasingly guides ESG-focused investment decisions, Indorama Ventures’ top ranking enhances its investment appeal and reinforces confidence in its governance and risk management practices. As per the press release, the company’s performance underscores its leadership in shaping the future of sustainable chemistry—defined by safer substances, circular product design, higher transparency, and low-carbon innovation. For brand owners and consumers, this translates into safer packaging, cleaner materials, and stronger environmental assurance across everyday products.

Topsoe, a global player in advanced energy transition technologies, signed a Front-End Engineering and Design (FEED) agreement with Carbon Neutral Fuels (CNF) for Project Starling, CNF’s commercial-scale e-SAF initiative. The project will integrate Topsoe’s cutting-edge Solid Oxide Electrolyzer Cell (SOEC) technology. This marks the first commercial use of Topsoe’s SOEC electrolyzers in sustainable aviation fuel (SAF) production.

A Milestone for Commercial e-SAF Production

The agreement represents a major step forward for both companies and the wider SAF industry. By incorporating SOEC technology into Project Starling, CNF aims to unlock high-efficiency Power-to-Liquid (PtL) production and support the UK’s push toward net-zero aviation.

Sundus Cordelia Ramli, CCO, Power-to-X at Topsoe, expressed, “Incorporating our SOEC technology into Carbon Neutral Fuels’ SAF project is a moment of significant pride for Topsoe. Carbon Neutral Fuels is at the frontier of the UK’s decarbonization ambitions. The company is delivering a major SAF project using mature and diversified technologies. We’re pleased to welcome them as our first SOEC customer for commercial SAF production and look forward to helping deliver the project.”

Alasdair Lumsden, Co-Founder of Carbon Neutral Fuels, added, “We’re thrilled to have Topsoe as our SOEC partner in the ASAP-DAC project. The extensive data and research supporting their technology gave us strong confidence in their solution. We look forward to contributing to aviation decarbonization and supporting the UK’s Jet Zero initiatives.”

Technology Delivery and Project Timeline

Topsoe will supply its SOEC electrolyzer stacks from its manufacturing facility in Herning, Denmark. Topsoe will begin deliveries in 2028, subject to CNF’s Final Investment Decision (FID). Located in Workington, UK, Project Starling is the country’s first commercial-scale Power-to-Liquid e-fuels facility. The plant aims to produce 25,000 metric tons of e-SAF annually using Topsoe’s

high-efficiency SOEC technology.

The project is currently in the FEED stage, with:

*Construction planned for 2028

*Operations targeted for 2031

Strong Government Backing