Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%
Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%
02/14/24, 9:50 AM
Location
Money raised
$12.5 million
Industry
renewable energy
Investors
Indian Oil Corporation
Indian Oil Corporation has completed its second round of investment in Phinergy in the amount of $12.5 million, bringing its holding in the company to 17%.
Company Info
Location
kfar saba, center district, israel
Additional Info
Phinergy develops metal–air 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 established strategic partnerships with leading companies worldwide.