Indian Oil, Israel’s Phinergy to manufacture special batteries in India
Indian Oil and Israel’s Phinergy announced a joint venture for commercialising aluminium-air (Al-Air) battery technology on Wednesday. The joint venture, IOC Phinergy (IOP), will be manufacturing Al-Air systems in India and recycle the used aluminium.
Phinergy is a startup specializing in hybrid lithium-ion and aluminium-air/zinc-air battery systems. The new Indo-Israeli JV also intends to develop fuel cells and indigenous hydrogen storage solutions for promoting green mobility, a statement from Indian Oil said.
A letter of intent (LOI) for using this technology was signed between IOP and Maruti Suzuki India. Another LOI for the same was signed between IOP and Ashok Leyland. The JV aims to enhance domestic energy supply based on domestically available aluminium.
