Phinergy Overview
Phinergy develops metalair technology, turning metals namely aluminum and zinc into a new way to store, transport, and generate clean and safe energy. Phinergy's aluminum-air technology releases the abundant energy contained in aluminum, resulting in a clean, safe, cost-efficient, and fully recyclable energy source. Phinergy's aluminum-air technology provides on-demand, clean energy for a variety of applications including energy backup for critical sites, on-demand distributed generation for microgrids, and range extenders for electric vehicles. Phinergy's zinc-air technology provides a high-capacity, low-cost, grid-scale energy storage solution for renewable sources such as wind and solar. Phinergy has notably partnered with Indian Oil Corporation, India's integrated energy major, for the deployment of its energy systems across India, with a focus on range extension for electric vehicles.
Cumulative Funding Raised Over Time ($)
$12.5MFeb 2020
$25.0MFeb 2024
$75.0MJan 2016
$84.0MJan 2021
Latest News
growth-positive
Phinergy's aluminium-air technology will be tested as backup power for data centers by the Net Zero consortium led by the two tech giants.
Phinergy, a clean energy company, has been selected by the Net Zero Innovation Hub for Data Centers, led by Google and Microsoft, to test its aluminium-air technology as a backup power solution for data centers. This collaboration aims to replace diesel generators with cleaner alternatives. Phinergys technology will undergo demonstration and validation, funded by Net Zero, with a system installation planned at one of the consortiums sites. The project, managed by a joint steering committee, is expected to conclude by Q4 2026. This partnership marks a significant step towards commercial deployment of Phinergys technology.
PartnersCustomersProduct Stage
growth-positive
Israeli company Phinergy stock skyrockets 180% after clean energy deal with Google, Microsoft
Phinergy, an Israeli clean energy firm, has experienced a significant stock surge of 180% this month, driven by its selection by a global tech consortium led by Google and Microsoft. The consortium aims to use Phinergys aluminum-air technology as a zero-emission backup power solution for data centers. This partnership, which includes major players like Data4, Vertiv, Schneider Electric, and Danfoss, marks a major milestone for Phinergy, positioning it as a leader in clean energy solutions. The company also raised 13.6 million shekels ($4.07 million) recently, with Aviv Tzidon as the lead investor. Phinergys technology was successfully deployed during a crisis near the Gaza border, maintaining electricity for mobile network sites.
PartnersInvestmentCustomersExpandPublic Trading
growth-positive
פינרג׳י סיימה בהצלחה פיילוט עם חברת Vantage Towers
Phinergy has successfully completed a pilot project with AG Vantage Towers, a leading telecommunications tower company in Europe. The pilot, which lasted about three months, involved the installation of Phinergys aluminium-air technology-based backup system at one of Vantage Towers active cellular sites in Hungary. The system successfully backed up 100% of the initiated and uninitiated power outages that occurred at the site. The completion of the pilot is another step in promoting the sales of its backup systems, in line with the companys business strategy and objectives.
PartnersCustomers
growth-negative
מנכ"ל פינרג'י עוזב את תפקידו
Phinergys CEO, David Mayer, has announced his intention to leave his position in August. Mayer has been with the company for six years. Last month, Indian Oil became the largest shareholder after investing 88 million shekels. Phinergy has developed a technology to produce clean electricity from a reaction between aluminum and air, which does not emit greenhouse gases. The company has two lines of business: backup power systems, mainly for the telecom market, and batteries for electric vehicles.
Management ChangesInvestment
growth-positive
Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%
Phinergy, an Israeli clean energy company, has received a second round of investment from Indian Oil Corporation, bringing the total investment to $25 million. This investment has increased Indian Oils stake in Phinergy to 17%. The funds will be used to expand Phinergys operations in India through its local subsidiary, increase production of its systems, and continue progress towards a data center application with a US cloud giant. Phinergy has also secured an order from Indus Towers worth approximately $4 million for the supply, installation, and service of backup systems for its communications towers.
InvestmentCustomersPartnersExpand
| Sector | Energy Tech |
Funding
| Total funding | $144M |
| Last funding | $12.5M |
| Stage | Public |
| Rounds | 5 |
| Investors | 5 |
Team Members
5
Employees: 11-50
Web & Social Links
| Website | phinergy.com/ |
| Careers | Careers page |
Locations
Kfar Saba, Israel
Photos & Videos
3 item(s)
Phinergy Business
Business models
B2G, B2B
Product stage
Released
Employees
11-50
Sector
Climate TechEnergy TransitionEco-Efficient Transmission and DistributionClean Energy GenerationEnergy TechEnergy Management & Grid IntegrationAutomotive & Mobility TechnologiesElectric Mobility & Alternative FuelsTarget Customer
Healthcare & Life SciencesHealthcareProvidersEnergy, Utilities & Waste ManagementRenewable Energy SystemsWindWaterSolarUtilitiesElectricityTransportation & LogisticsLogisticsMaritimeIndustrial ManufacturingDiscrete IndustriesAerospaceAutomotiveDefenseEnterprise & Professional ServicesITData CentersEnterprisesReal Estate & ConstructionCommunication ServicesCore Technology
Communications5GMaterials & SubstancesTags (18)
critical-infastructure5g-networksenergyenergy-storagebatteriesenergy-savingelectric-vehiclesclimate-techmarinedefenseautomotiveaerospacemanufacturing-facilitieselectro-chemical-batteriesenergytechsmart-mobilityrenewable-energytelecommunicationGeographic Markets
ChinaEuropeIndiaSwedenPhinergy Financials
$144M
Total funding
Undisclosed
Capital raised
$12.5M
Last funding
Public
Funding stage
5
Total rounds
5
Investors
Cumulative Funding Raised Over Time ($)
$12.5MFeb 2020
$25.0MFeb 2024
$75.0MJan 2016
$84.0MJan 2021
Private Equity Funding
PIPE
Feb 2024
$12.5M
Indian Oil Corporation
Undisclosed Round
Jan 2021
$9M
Undisclosed Investor(s), Doral Energy-Tech Ventures
Undisclosed Round
Feb 2020
$12.5M
Indian Oil Corporation
A Round
Jan 2016
$50M
Alcoa, Alten, Indian Oil Corporation
Public Offering / Exit
POEvent
Feb 2021
Undisclosed
Phinergy Lifecycle
Cumulative Funding Raised Over Time
$12.5MFeb 2020
$25.0MFeb 2024
$75.0MJan 2016
$84.0MJan 2021
All Events
PIPE
Feb 2024
$12.5M
Indian Oil Corporation
Undisclosed Round
Jan 2021
$9M
Undisclosed Investor(s), Doral Energy-Tech Ventures
Undisclosed Round
Feb 2020
$12.5M
Indian Oil Corporation
A Round
Jan 2016
$50M
Alcoa, Alten, Indian Oil Corporation
POEvent
Feb 2021
Undisclosed
Phinergy News
36 articles
growth-positive
Phinergy's aluminium-air technology will be tested as backup power for data centers by the Net Zero consortium led by the two tech giants.
Phinergy, a clean energy company, has been selected by the Net Zero Innovation Hub for Data Centers, led by Google and Microsoft, to test its aluminium-air technology as a backup power solution for data centers. This collaboration aims to replace diesel generators with cleaner alternatives. Phinergys technology will undergo demonstration and validation, funded by Net Zero, with a system installation planned at one of the consortiums sites. The project, managed by a joint steering committee, is expected to conclude by Q4 2026. This partnership marks a significant step towards commercial deployment of Phinergys technology.
PartnersCustomersProduct Stage
growth-positive
Israeli company Phinergy stock skyrockets 180% after clean energy deal with Google, Microsoft
Phinergy, an Israeli clean energy firm, has experienced a significant stock surge of 180% this month, driven by its selection by a global tech consortium led by Google and Microsoft. The consortium aims to use Phinergys aluminum-air technology as a zero-emission backup power solution for data centers. This partnership, which includes major players like Data4, Vertiv, Schneider Electric, and Danfoss, marks a major milestone for Phinergy, positioning it as a leader in clean energy solutions. The company also raised 13.6 million shekels ($4.07 million) recently, with Aviv Tzidon as the lead investor. Phinergys technology was successfully deployed during a crisis near the Gaza border, maintaining electricity for mobile network sites.
PartnersInvestmentCustomersExpandPublic Trading
growth-positive
פינרג׳י סיימה בהצלחה פיילוט עם חברת Vantage Towers
Phinergy has successfully completed a pilot project with AG Vantage Towers, a leading telecommunications tower company in Europe. The pilot, which lasted about three months, involved the installation of Phinergys aluminium-air technology-based backup system at one of Vantage Towers active cellular sites in Hungary. The system successfully backed up 100% of the initiated and uninitiated power outages that occurred at the site. The completion of the pilot is another step in promoting the sales of its backup systems, in line with the companys business strategy and objectives.
PartnersCustomers
growth-negative
מנכ"ל פינרג'י עוזב את תפקידו
Phinergys CEO, David Mayer, has announced his intention to leave his position in August. Mayer has been with the company for six years. Last month, Indian Oil became the largest shareholder after investing 88 million shekels. Phinergy has developed a technology to produce clean electricity from a reaction between aluminum and air, which does not emit greenhouse gases. The company has two lines of business: backup power systems, mainly for the telecom market, and batteries for electric vehicles.
Management ChangesInvestment
growth-positive
Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%
Phinergy, an Israeli clean energy company, has received a second round of investment from Indian Oil Corporation, bringing the total investment to $25 million. This investment has increased Indian Oils stake in Phinergy to 17%. The funds will be used to expand Phinergys operations in India through its local subsidiary, increase production of its systems, and continue progress towards a data center application with a US cloud giant. Phinergy has also secured an order from Indus Towers worth approximately $4 million for the supply, installation, and service of backup systems for its communications towers.
InvestmentCustomersPartnersExpand
growth-positive
פינרג׳י מתקדמת שלב נוסף עם ענקית שרותי מחשוב הענן הגלובלית
Phinergy, an Israeli company specializing in aluminum-air and zinc-air battery systems, is in talks with one of the worlds top five cloud companies for a potential partnership. The cloud company has rated Phinergys combined proposals highly and decided to proceed with the company. The partnership is expected to lead to the development of large energy backup systems suitable for data centers. The majority of leading cloud companies have committed to stop using polluting generators as a backup energy source for their data centers in the next decade, providing a potential market for Phinergys clean alternative solutions.
PartnersExpand
growth-positive
Phinergy prevented the collapse of cellular networks on October 7
Phinergy, an Israeli company that produces metal-air batteries, played a crucial role in maintaining cellular communications during a terror attack on October 7. The companys backup energy systems, installed at local telecom sites, provided power for tens of hours when the electricity supply was knocked out. The systems, based on innovative aluminum-air technology, were able to provide continuous connectivity in emergency situations. The customer, a major Israeli mobile operator, has installed Phinergys backup systems at several hundred sites representing more than 10% of its network.
Customers
growth-positive
Phinergy prevented the collapse of cellular networks on October 7
Phinergys backup energy system played a crucial role in maintaining cellular communications when the electricity supply was disrupted in the Israeli side of the Gaza border region due to a terror attack on October 7. The companys systems, installed at local telecom sites, provided essential connectivity for tens of hours. The systems, based on innovative aluminum-air technology, are designed to provide backup energy for critical infrastructure such as telecom sites, hospitals, and data centers. Phinergys customer, a major Israeli mobile operator, has installed the companys backup systems at several hundred sites, representing more than 10% of its network.
Customers
growth-positive
Indian Oil תשקיע 10-12.5 מיליון ד' בפינרג'י - Techtime - חדשות אלקטרוניקה והייטק
Indian Oil is planning to make a second investment in Phinergy, an Israeli company that has developed a technology for producing clean electricity from a reaction between aluminum and air. The investment will be made through Indian Oils Swedish subsidiary, IOC Sweden AB, and will bring Indian Oils stake in Phinergy to over 25%. As a result of the announcement, Phinergys stock on the Tel Aviv Stock Exchange rose by about 9%. Indian Oil, a strategic partner of Phinergy, is interested in using its fuel stations as charging stations for Phinergys batteries.
InvestmentPartners
growth-positive
פינרג'י חתמה על עסקה של 4 מיליון דולר; המניה זינקה ב-25%
Phinergy, an Israeli company that develops aluminum-air batteries, has signed a deal to supply 300 backup systems to Indian telecommunications company Indus Towers. The deal, worth approximately $4 million, comes after two years of pilot testing. The supply of the systems could be part of a larger agreement to supply 18,000 backup systems. The systems will be supplied throughout 2024.
Customers
growth-positive
Indus Towers inks pact with IOC, Phinergy for clean energy systems based on aluminium-air tech
Indus Towers and IOC Phinergy (IOP) have signed an agreement to deploy 300 zero-emission energy systems at Indus telecom tower sites, aiming to optimise diesel consumption. This move aligns with Indus Towers sustainability priorities. IOP, a joint venture between IOCL and Phinergy Ltd, Israel, will provide the aluminium-air technology for the energy systems. Indus Towers CEO, Prachur Sah, stated that the agreement is a testament to the companys commitment to building eco-friendly telecom tower sites and optimising resources.
PartnersExpand
growth-positive
אריקסון תשווק את מערכות הגיבוי של פינרג'י ללקוחות בשוק הטלקום - Techtime - חדשות אלקטרוניקה והייטק
Phinergy has signed a distribution agreement with telecom giant Ericsson. As part of the agreement, Phinergy will serve as an official supplier to Ericsson, which will market Phinergys backup systems, based on non-polluting electricity production from the reaction between aluminium and air, to its customers in the global telecom market. The backup systems, installed at communication sites, are designed to provide electricity to the site during network supply disruptions to prevent damage to communication services following power outages. Ericsson installs and provides cellular communication towers, including in remote and rural areas, and is also one of the leading companies in the field of 5G infrastructure deployment.
Partners
growth-positive
חברת Indian Oil תשקיע עוד 12 מיליון דולר בפינרג'י
Indian Oil, an Indian energy and petrochemical company, is deepening its stake in Phinergy, an Israeli company that develops technology for producing metal-air batteries. Indian Oil will purchase Phinergy shares for $10 million at a price that will be 20% lower than the price of Phinergys stock on the stock exchange in the 30 trading days preceding the investment. Indian Oil, which is traded on the Mumbai Stock Exchange at a value of $17 billion, will also purchase shares from the companys shareholders for $2.25 million at the same price.
Investment
growth-positive
פינרג'י מרחיבה את שיתוף הפעולה עם ענקית הרכב טאטא לשוק המסחרי
פינרגי מרחיבה את שיתוף הפעולה עם טאטא, חברת הרכב ההודית, לשוק המסחרי פינרגי. השיתוף יאריך את טווח הנסיעה של כלי הרכב החשמלי של טאטא.
Partners
growth-positive
Aluminium-air tech set to enter Lithium-ion- dominated Indian EV market - ET Auto
Phinergy, an Israel cleantech firm, and Bengaluru-based nanotechnology start-up Log9 Materials are looking at commercializing their aluminium-air technology systems in India. Phinergy has signed with several automotive OEMs in India, including Tata Motors and Mahindra & Mahindra, for the deployment of Al-Air technology. The Al-Air tech is seen as a promising technology option to help EVs address the range anxiety issue. It can be seen as a hybrid battery in an EV, as an Al-air powered vehicle will also have a small Lithium-ion battery. Other major OEMs like Maruti Suzuki and Ashok Leyland have also shown interest in the technology. Phinergy has built a complete ecosystem in India, with Indian Oil Corporation as its joint venture partner and investor.
CustomersPartners
growth-positive
Phinergy will present a Tata Motors passenger vehicle prototype, powered by Phinergy's aluminum-air battery, at the largest automobile exhibition in India
Phinergy will present the prototype of the Tata Tiago electric car, developed by Tata and powered by the Phinergy system, at Auto Expo India 2023. Phinergy has a joint company in India with Indian Oil called IOC Phinergy Private Limited (IOP) and has signed MOUs with several leading car manufacturers in the Indian market. The partnership with Tata strengthens Phinergys position as a leading company in the field of electric vehicles. The aluminum-air batteries developed by Phinergy and the ecosystem created in India, including car manufacturers, Indian Oil corporation, and Hindalco Industries, aim to promote clean aluminum-based electric transportation in India.
PartnersCustomers
growth-positive
Hindalco, Indian Oil and Israel's Phinergy join hands to make aluminum-air batteries
Aditya Birla Group has signed a partnership agreement with Phinergy and IOC Phinergy for R&D and pilot production of aluminum plates for Aluminum-Air batteries. The collaboration aims to boost the domestic manufacturing of batteries in India and meet the growing demand for energy storage. The partnership will also explore the recycling of aluminum used in these batteries. Aditya Birla Groups Hindalco Industries will work exclusively with Phinergy and IOC Phinergy in India. The Aluminum-Air technology enables energy generation by combining oxygen from the air with aluminum and zinc. The electric vehicle market is projected to achieve cumulative sales of 80 million units by 2030, making it the primary segment for Aluminum-Air batteries.
PartnersInvestment
growth-positive
טאטא בוחנת שימוש בסוללות אלומיניום אוויר של פינרג'י - Techtime - חדשות אלקטרוניקה והייטק
Israeli company Phinergy has announced a strategic partnership with Indian automotive giant Tata Motors to adapt Phinergys aluminum-air batteries for Tatas electric vehicles. The batteries are expected to extend the driving range of the vehicles compared to lithium batteries of similar size and weight. The batteries will be charged at Indian Oils fuel stations. If the development plan is successful, the companies will examine a commercial agreement. This could lead to the launch of the worlds first vehicles powered by such technology in the Indian market.
PartnersExpand
growth-positive
בזק רכשה מפינרג'י מערכת גיבוי אלומיניום-אוויר - Techtime - חדשות אלקטרוניקה והייטק
Phinergy, a company that develops backup, storage and battery systems based on the reaction between aluminum and air, has announced that the telecommunications company Bezeq has purchased a backup system from them. The system will be used at one of Bezeqs sites that provide wired communication and fast internet. Phinergy estimates that if Bezeq is satisfied with the performance of the backup system, it will purchase additional systems. The telecommunications market is one of Phinergys main target markets.
AcquisitionCustomers
growth-positive
Phinergy Awarded as Technology Pioneer by World Economic Forum
Phinergy, a leading pioneer in metal-air technology, has been selected as a Technology Pioneer by the World Economic Forum for its innovative energy solutions. The companys metal-air technology combines oxygen from the air with metals to generate clean and affordable energy. Phinergys applications include energy resilience for critical infrastructure, range extension for electric vehicles, and low-cost storage for renewable energy. The company has partnered with Indian Oil Corporation for the deployment of aluminum-air technology in India. As a Technology Pioneer, Phinergys CEO will participate in World Economic Forum activities and contribute to addressing industry and societal issues. Phinergy is publicly listed on the Tel-Aviv Stock Exchange and employs around 50 people.
Partners
growth-positive
פינרג'י נכנסת לשוק אגירת האנרגיה
פינרג׳י הודיעה על חתימת הסכם עם דוראל לפיתוח פרויקט אגירת אנרגיה באמצעות טכנולוגיית האבץ-אוויר שלה. הסכם זה מאפשר לפינרג׳י להיכנס לשוק הגלובלי של אגירת האנרגיה ולפתח את הטכנולוגיה הירוקה שלה בשותפות עם דוראל. טכנולוגיית האבץ-אוויר מציעה פתרון לאגירת אנרגיה בעל קיבולת גדולה ועלות נמוכה מהפתרונות הקיימים בשוק. פינרג׳י כעת מתמודדת עם שלוש זרועות עסקיות: אגירת אנרגיה, רכבים חשמליים ופתרונות גיבוי אנרגיה.
PartnersExpand
growth-positive
Clean energy co Phinergy raises NIS 200m in TASE IPO
Clean energy company Phinergy has successfully completed an IPO on the Tel-Aviv Stock Exchange, raising NIS 200 million ($60 million) at a pre-money valuation of NIS 780 million ($237 million). The company is expected to start listing next week. Phinergy specializes in metal-air technology for electricity generation and has applications in energy backup, electric vehicle driving range extension, and renewable energy storage. Prior to the IPO, the company had raised NIS 240 million ($73 million) in funding, including a NIS 30 million ($9 million) pre-IPO round. The funds raised in the IPO will be used to build mass production facilities. Phinergys shareholders have shown trust by not selling any shares during the IPO.
Public TradingInvestment
growth-positive
בדרך לבורסה: פינרג'י גייסה 200 מיליון שקל לפי שווי של 980 מיליון שקל
Phinergy, a green energy company, has announced its plans to raise 200 million shekels through an initial public offering (IPO) on the Tel Aviv Stock Exchange. The company aims to issue approximately 21.7 million shares at a price of 13 shekels per share. The share price reveals the companys desired valuation of 980 million shekels post-money. Phinergy ended the first half of 2020 with a loss of 29 million shekels, an improvement from a loss of 48 million shekels in the first half of 2019.
Public TradingInvestment
growth-positive
Indian Oil and Israel's Phinergy test aluminium air battery on Mahindra Treo
Mahindra Electric is testing metal-air batteries on its three-wheeler Treo. The batteries are said to match the performance of traditional fuel, can be refilled in 5 minutes, require light infrastructure, and lower the cost of EVs. Mahindra Electric is working with Indian Oil and Phinergy, who have partnered to manufacture metal-air batteries for EVs. The progress of the partnership has been reviewed by the Indian Ambassador to Israel, and Mahindra Electric has been onboarded to test the batteries. Metal-air batteries are considered a promising technology that can eliminate long-charging times and the need for expensive lithium cell tech. Ashok Leyland also has a partnership with Phinergy, indicating the potential for electrifying heavy-duty commercial vehicles in India.
PartnersCustomers
growth-positive
Clean energy co Phinergy files for TASE IPO
Phinergy, an Israeli clean energy technology company, has filed for an IPO on the Tel Aviv Stock Exchange. The companys metal-air technology provides clean energy generation and storage solutions. Phinergy aims to raise $50-60 million at a valuation of $250 million. The IPO is being led by Leader Underwriters, Leumi Partners, and Menora Underwriters. Phinergy has raised NIS 250 million to date and has 45 employees. In 2020, the companys net loss narrowed by 40% to NIS 29 million.
Public TradingInvestment
growth-positive
איכות סביבה והוזלת עלויות: סלקום רכשה טכנו' גיבוי חשמל של פינרג'י
Cellcom has purchased 250 innovative electrical backup systems from Phinergy, a company that deals with green technological solutions. The aluminium-air technology will improve the stability of the communication network in cases of power outages, replacing traditional solutions, improving backup performance, saving costs, and not polluting the environment. The systems will also allow longer backup time and value-added services for the operator. Phinergys solution protects telecom sites even in cases of long power outages and allows smart monitoring and management of the power grid backup at sites through remote control system.
Acquisition
growth-positive
עוד טכנולוגיה בדרך לבורסה: חברת האנרגיה הירוקה של אביב צידון
Phinergy, a green energy solutions company, is planning to go public on the Tel Aviv Stock Exchange. The company, which develops unique batteries using aluminium-air and zinc-air technology, is looking to raise tens of millions of dollars at a company valuation of about 800 million shekels. Phinergy has already raised over $60 million for the development of its technologies and initial marketing efforts. Ahead of its IPO, Doral, a publicly traded green energy company, is negotiating an investment of up to 10 million shekels in exchange for shares.
Public TradingInvestment
growth-positive
חברת נפט בהודו משיקה טכנולוגיית סוללות לרכב חשמלי - EV Magazine
Israeli start-up Phinergy is developing aluminium-air and zinc-air batteries for electric vehicles, following an investment of tens of millions of dollars from the Indian government. The companys batteries are expected to be key to the promising Indian car market and could lead to a stock market flotation at an estimated value of hundreds of millions of shekels. Indian Oil Corporation plans to be the first major manufacturer of these batteries, which are more energy efficient and economically viable for use in electric vehicles. The batteries developed by Phinergy allow for similar energy transfer to lithium batteries, but at a quarter of the weight and doubling the range of travel per charge.
InvestmentExpand
growth-positive
דוראל בדרך להשקיע בסוללה החשמלית של אביב צידון
Phinergy, an Israeli renewable energy company, is in advanced talks with green energy company Doral for a pre-IPO investment of 10 million shekels. Phinergy, which is developing aluminium-air batteries, is planning an initial public offering (IPO) on the Tel Aviv Stock Exchange. If the deal goes through, Doral will receive 1-1.5% of Phinergys shares, valuing the company at at least 1 billion shekels. Phinergy has previously raised over $60 million for the development of its technology and initial marketing efforts.
InvestmentPublic Trading
growth-positive
Indian Oil To Begin Metal-Air Battery Field Trials With Israel's Phinergy
Indian Oil Corporation Ltd. is in talks with leading domestic electric vehicle makers to start field trials for metal-air batteries. The company has recently acquired a minority stake in high-tech battery maker Phinergy and plans to form a joint venture with them to manufacture metal-air batteries. Metal-air batteries, such as the aluminium-air battery system, have great potential in electric mobility and can complement lithium-ion batteries for large-scale adoption of electric vehicles. If successful, these batteries can offer a range of over 600 km. Indian Oil has already set up EV charging stations and plans to manufacture lithium-ion battery cells and hydrogen cells.
PartnersExpand
growth-positive
https://www.jpost.com/israel-news/indian-oil-giant-israeli-start-up-to-develop-metal-air-batteries-616490
Indian Oil Corporation Ltd. has partnered with energy start-up Phinergy to develop and produce metal-air batteries for long-distance electric-vehicle travel. Indian Oil has bought a minority stake in Phinergy and plans to form a joint venture in India to collaborate on battery system development. The companies also intend to establish a battery manufacturing factory in India. The partnership aims to reduce Indias reliance on battery imports and provide clean and affordable energy solutions for the country. Indian Oil is currently in discussions with leading auto manufacturers to adopt the technology in vehicles.
PartnersInvestment
growth-positive
Ashok Leyland signs pact with Israel-based Phinergy for electric CVs
Ashok Leyland has signed a Letter of Intent with Phinergy to secure long-term arrangements for its electric commercial vehicles. The partnership aims to develop unique and sustainable solutions for high-energy applications in the commercial vehicles space. Ashok Leylands MD expects the new initiatives to generate Rs 1,000-crore revenue in 3-5 years.
Partners
growth-positive
Indian Oil, Israeli Company Phinergy to Collaborate on New Electric Vehicle Battery Factory
Indian Oil Corporation Ltd. is partnering with Phinergy Ltd. to create battery cells for electric vehicles. They plan to open a joint factory in India in 2020 to develop the batteries. The factory is estimated to cost the two companies dozens of millions of dollars. Initially, the batteries will be produced for the Indian auto sector, with plans to expand internationally in the future. Phinergy has raised $288 million to date and employs 40 people in central Israel.
PartnersInvestment
Yunnan Aluminium Teams Up with Israeli Firm Phinergy to Produce Aluminium Batteries for Electric Vehicles - Aluminium Insider
growth-positive
China's Yunnan Aluminium approves battery JV with Israel's Phinergy
Yunnan Aluminium has approved a joint venture with Israels Phinergy and another Chinese firm to produce aluminum batteries for electric vehicles. The joint venture, named Yunnan Phinergy Chuang Neng Metal Air Battery Co Ltd, will have a registered capital of 813.82 million yuan ($128.97 million) and will be based in Kunming, China. Yunnan Aluminium and Phinergy will each own 32 percent of the venture, with the remaining 36 percent owned by Shanghai Zuoyong New Energy Technology Co. The joint venture aims to introduce aluminum-air battery technology and utilize Yunnan Aluminiums green and clean water and aluminum resources. Yunnan Aluminium previously announced plans to enter the electric vehicle business.
PartnersInvestment
growth-positive
IOC, Phinergy to develop ultra lightweight batteries for EVs
Indian Oil Corp (IOC) has signed an initial pact with Israels Phinergy Ltd for developing ultra lightweight metal-air batteries for electric vehicles (EVs). The company also signed a pact with Yeda Research and Development Co Ltd for cooperation in concentrated solar thermal technologies. These agreements were among the nine pacts signed to bolster bilateral ties between India and Israel in strategic areas. A memorandum of understanding (MoU) was also signed between Indias Ministry of Petroleum and Natural Gas and the Ministry of Energy for cooperation in the oil and gas sector.
Partners
Phinergy Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 48 |
| Team members | 6 |
Similar Companies
Similar companies data is computed dynamically and not stored in the entity profile. This section requires implementing a similarity query (e.g. by classification overlap, sector, district).
This entity has 35 classification IDs that could be used for matching.
Phinergy Internal
Recent Updates
No update log entries.
Note: Free-text notes visible in the original Finder "Internal" tab are not present in the imported profile data. Only the update audit log is available.
Admin Info
| Confidence | 99/100 |
| Missing | markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 514354786 |
| Crunchbase | phinergy |
| Creator | Katie Kaplan |
| Creator email | katherinekaplan14@gmail.com |
| Last updater | Maor Perlov |
| Updater email | maor.perlov@sncentral.org |
| Last update | 2024-03-25T00:00:00.000Z |
| Created | 2014-07-16T00:00:00.000Z |
| Claimed | Yes |
| Status detail | Public on TASE on Feb, 2021<br> |