Punjab Carbonic Limited, established in 1992, is a company that works in carbon capture and industrial gas solutions, mainly producing and supplying liquid CO₂ and dry ice. It captures CO₂ from fermentation processes and converts it into high-quality products that meet international standards, helping promote a circular carbon economy. The company also designs, installs, and operates CO₂ recovery units in distilleries, along with its subsidiary Punjab Fusion Private Limited. As of March 2025, it has a production capacity of 259,200 metric tonnes per year and runs 17 recovery units across India, supported by a strong distribution network and its own fleet of CO₂ tankers. It serves many industries such as food and beverages, chemicals, healthcare, and aviation, with operations across more than 23 states and even exports to countries like Sri Lanka, Nepal, Zambia, and Morocco. Additionally, through its subsidiary Pancarbo Greenfuels Private Limited, it has entered the ethanol business, and as of September 2025, the company has 273 employees.