New Delhi, Feb 04, 2020: In its quest to embrace emerging energy alternatives and to firm up viable, customer-convenient automobile battery technology options, Indian Oil Corporation (IndianOil) has firmed up its equity participation in Phinergy, Israel, for production of metal-air batteries.
Phinergy specialises in aluminium-air (Al-Air) and zinc-air battery systems that have great potential applications in electric mobility and stationary applications. Aluminium is naturally available in India and their extraction and recycling technologies are also very well established. IndianOil’s collaboration with Phinergy in the field of Al-Air will help in reducing import dependence of the country and isolates the country’s energy requirements from global geo-political and currency risks.
To start with, IndianOil has taken a minority equity stake in Phinergy (Israel). IndianOil and Phinergy are now in the process of forming a Joint Venture in India for collaboration in the field of Al-Air battery system including research & development, customization, manufacturing, assembly, sell and service of aluminium-air energy systems technology. The joint venture intends to set up a factory in India to manufacture Al-Air batteries for Electric Vehicles and stationary applications and facilitate development of eco-system for Al-Air technology.
