State-owned Indian Oil Corp (IOC) on Tuesday said it has acquired a minority stake in Israeli battery developer Phinergy Ltd for developing ultra lightweight metal-air batteries that can be used in electric vehicles (EVs). \u201cTo start with, IOC has taken a minority equity stake in Phinergy,\u201d the company said in a statement, without giving details about the size of interest or the acquisition cost. Founded in 2008, Phinergy develops an assortment of zero-emission batteries including aluminum-air and zinc-air batteries designed to offer power sources for electric cars.<\/p>\n
IOC and Phinergy will form a joint venture in India to collaborate in developing aluminium-air battery system including research & development, customisation, manufacturing, assembly, sell and service of aluminium-air energy systems technology. \u201cThe joint venture intends to set up a factory in India to manufacture aluminium-air batteries for electric vehicles and stationary applications and facilitate development of eco-system for Al-Air technology,\u201d the statement said.<\/p>\n","protected":false},"excerpt":{"rendered":"
State-owned Indian Oil Corp (IOC) on Tuesday said it has acquired a minority stake in Israeli battery developer Phinergy Ltd for developing ultra lightweight metal-air batteries that can be used in electric vehicles (EVs). \u201cTo start with, IOC has taken a minority equity stake in Phinergy,\u201d the company said in a statement, without giving details about the size of interest or the acquisition cost. Founded in 2008, Phinergy develops an assortment of zero-emission batteries including aluminum-air and zinc-air batteries designed to offer power sources for electric cars. IOC and Phinergy will form a joint venture in India to collaborate in […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-336086","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=336086"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336086\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=336086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=336086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=336086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}