India, Feb. 24 -- Indian conglomerate Reliance Industries (RIL), on Monday (February 22), announced its move to switch from fossil fuel to new energy and new materials.

In its presentation on the proposed reorganisation of O2C business of the company, RIL claims that it will turn into a net carbon zero company by 2035. It is currently looking to build an optimal mix of reliable, clean and affordable energy and storage, using hydrogen, solar, wind and batteries. RIL aims to accelerate the transition to a hydrogen economy, with plans to develop a portfolio of advanced and speciality materials.

The company claims to have built the largest and most complex single-site refinery at Jamnagar, with a crude-refining capacity of 1.4 Mn barrels pe...