{"id":464414,"date":"2021-03-24T12:06:46","date_gmt":"2021-03-24T16:06:46","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464414"},"modified":"2021-03-24T12:06:46","modified_gmt":"2021-03-24T16:06:46","slug":"iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/","title":{"rendered":"IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India &#8211; Ashok Leyland and Maruti Suzuki to test Phinergy&#8217;s aluminium-air battery in electric vehicles"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">The collaborations include integration of Phinergy&#8217;s technology into prototype vehicles and field trials  &#8211; for buses and passenger cars<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <b><br \/>\n          <span class=\"xn-person\">David Mayer<\/span>, CEO of Phinergy<\/b>: &#8220;Collaborations with leading vehicle manufacturers cement Phinergy&#8217;s position and vision in the field of electric vehicles in general and in the Indian market in particular. During the ceremony, the Indian Minister who was present, along with the management of the Indian vehicle manufacturers, expressed the Government of <span class=\"xn-location\">India&#8217;s<\/span> commitment to the success of the venture, <span class=\"xn-location\">India&#8217;s<\/span> commitment to progress, and the desire to provide a better, cleaner and healthier future to both countries. <\/p>\n<p>&#8220;The signed LOI agreements, both with <span class=\"xn-person\">Ashok Leyland<\/span>, one of the largest bus manufacturers in the world, and with <span class=\"xn-person\">Maruti Suzuki<\/span>, which is the largest passenger car manufacturer in the Indian market, together with the existing project with Mahindra Electric for electric rickshaws, show that the technology is suited to a very wide range of vehicles.<\/p>\n<p>&#8220;We hope that the first demo vehicles will drive on Indian roads in the near future, and will subsequently drive millions of passengers in <span class=\"xn-location\">India<\/span> in an environmental, pollution-free way, with longer driving range compared with lithium batteries of similar size and weight, fast recharging without electric grid dependency, at a competitive price.&#8221;<\/p>\n<p>\u00a0<\/p>\n<p>\n        <span class=\"xn-location\">TEL AVIV, Israel<\/span>, <span class=\"xn-chron\">March 24, 2021<\/span> \/PRNewswire\/ &#8212; <a target=\"_blank\" href=\"https:\/\/phinergy.com\/\" rel=\"nofollow noopener noreferrer\"><b>Phinergy<\/b><\/a><span><\/span>(TASE: PNRG)<b>\u00a0<\/b>which develops metal-air technology that allows electricity to be generated from metals (aluminium and zinc) using oxygen from ambient air, today reports that the joint company under the ownership of Israeli company Phinergy and Indian energy major Indian Oil Corporation (IOC) have signed two Letters of Intent with <span class=\"xn-person\">Ashok Leyland<\/span> and Maruti Suzuki India Limited, two leading Indian vehicle manufacturers.<\/p>\n<p>Under the LOIs, the parties agreed to collaborate in order to assess commercial uses of the aluminium-air battery developed by Phinergy. The collaboration includes the development of prototypes, field trials and adaptation of the aluminium-air battery to the massive Indian market and in particular to the electric vehicles of the two vehicle manufacturers.<\/p>\n<p>As part of the collaboration with <span class=\"xn-person\">Ashok Leyland<\/span>, Phinergy&#8217;s technology will be integrated in electric buses, while under the collaboration with <span class=\"xn-person\">Maruti Suzuki<\/span>, the technology will be integrated in electric passenger vehicles. These collaborations follow the collaboration between Phinergy and Mahindra Electric, another leading vehicle manufacturer in <span class=\"xn-location\">India<\/span>, whereby a prototype for an electric rickshaw using an aluminium-air battery was recently completed. <\/p>\n<p>The two LOIs were signed as part of an event to inaugurate the incorporation of the joint company owned by Phinergy and Indian Oil Corporation, an event attended by Israeli Energy Minister, Dr. <span class=\"xn-person\">Yuval Steinitz<\/span>, Indian Cabinet Minister for Petroleum &amp; Natural Gas and Steel, <span class=\"xn-person\">Dharmendra Pradhan<\/span>, Phinergy Chairman <span class=\"xn-person\">Aviv Tzidon<\/span>, Phinergy CEO <span class=\"xn-person\">David Mayer<\/span>, IOC Chairman Shri S M Vaidya, as well as Senior Executives from Mahindra Electric, <span class=\"xn-person\">Ashok Leyland<\/span>, and <span class=\"xn-person\">Maruti Suzuki<\/span>.<\/p>\n<p>\n        <u>About Phinergy<\/u>\n      <\/p>\n<p>Phinergy, an Israeli company operating in the field of green energy, engages in the development of systems for the production, backup and storage of clean energy based on metal-air technology. Metal-air technology enables the generation of electricity by combining oxygen from ambient air with metals \u2013 aluminium and zinc.<\/p>\n<p>Aluminium-air technology is an energy production technology with two main applications: energy backup for critical facilities and extension of the range of electric vehicles. Zinc-air technology, which is currently in advanced stages of research and development, is a technology for storing renewable energy.<\/p>\n<p>Both technologies \u2013 aluminium-air and zinc-air \u2013 enable the clean generation and storage of energy without emitting pollutants into the environment, while also being efficient, smart and economical.<\/p>\n<p>Phinergy commenced trading on the Tel Aviv Stock Exchange in <span class=\"xn-chron\">February 2021<\/span> and raised ILS 200 million in an IPO at a pre-money valuation of ILS 780 million. The company currently employs about 50 people in its offices in Kfar Saba.<\/p>\n<p>Phinergy&#8217;s website: <a target=\"_blank\" href=\"https:\/\/phinergy.com\/\" rel=\"nofollow noopener noreferrer\">https:\/\/phinergy.com\/<\/a><\/p>\n<p>Contact:<br \/><span class=\"xn-person\">Zvi Rabin<\/span><br \/><a target=\"_blank\" href=\"mailto:info@irm.co.il\" rel=\"nofollow noopener noreferrer\">info@irm.co.il<\/a><br \/><a target=\"_blank\" href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fweb.irm.co.il%2F&amp;data=04%7C01%7Crakefet.sudri%40cision.com%7Cb2faad90e86942c4b6da08d8eec55967%7C887bf9ee3c824b88bcb280d5e169b99b%7C1%7C0%7C637521878722934960%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&amp;sdata=U4w98Fq2vZl8MwlW%2BjBRHvKHuYxzDn6AYhnhgI4SQhE%3D&amp;reserved=0\" rel=\"nofollow noopener noreferrer\">web.irm.co.il<\/a><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN20456&amp;sd=2021-03-24\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india--ashok-leyland-and-maruti-suzuki-to-test-phinergys-aluminium-air-battery-in-e-301255114.html\">http:\/\/www.prnewswire.com\/news-releases\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india&#8211;ashok-leyland-and-maruti-suzuki-to-test-phinergys-aluminium-air-battery-in-e-301255114.html<\/a><\/p>\n<p>SOURCE  Phinergy<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LN20456&amp;Transmission_Id=202103241203PR_NEWS_USPR_____LN20456&amp;DateId=20210324\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The collaborations include integration of Phinergy&#8217;s technology into prototype vehicles and field trials &#8211; for buses and passenger cars PR Newswire David Mayer, CEO of Phinergy: &#8220;Collaborations with leading vehicle manufacturers cement Phinergy&#8217;s position and vision in the field of electric vehicles in general and in the Indian market in particular. During the ceremony, the Indian Minister who was present, along with the management of the Indian vehicle manufacturers, expressed the Government of India&#8217;s commitment to the success of the venture, India&#8217;s commitment to progress, and the desire to provide a better, cleaner and healthier future to both countries. &#8220;The signed LOI agreements, both with Ashok Leyland, one of the largest bus manufacturers in the world, and with Maruti Suzuki, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India &#8211; Ashok Leyland and Maruti Suzuki to test Phinergy&#8217;s aluminium-air battery in electric vehicles&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-464414","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India - Ashok Leyland and Maruti Suzuki to test Phinergy&#039;s aluminium-air battery in electric vehicles - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India - Ashok Leyland and Maruti Suzuki to test Phinergy&#039;s aluminium-air battery in electric vehicles - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The collaborations include integration of Phinergy&#8217;s technology into prototype vehicles and field trials &#8211; for buses and passenger cars PR Newswire David Mayer, CEO of Phinergy: &#8220;Collaborations with leading vehicle manufacturers cement Phinergy&#8217;s position and vision in the field of electric vehicles in general and in the Indian market in particular. During the ceremony, the Indian Minister who was present, along with the management of the Indian vehicle manufacturers, expressed the Government of India&#8217;s commitment to the success of the venture, India&#8217;s commitment to progress, and the desire to provide a better, cleaner and healthier future to both countries. &#8220;The signed LOI agreements, both with Ashok Leyland, one of the largest bus manufacturers in the world, and with Maruti Suzuki, &hellip; Continue reading &quot;IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India &#8211; Ashok Leyland and Maruti Suzuki to test Phinergy&#8217;s aluminium-air battery in electric vehicles&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-24T16:06:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN20456&amp;sd=2021-03-24\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India &#8211; 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for buses and passenger cars PR Newswire David Mayer, CEO of Phinergy: &#8220;Collaborations with leading vehicle manufacturers cement Phinergy&#8217;s position and vision in the field of electric vehicles in general and in the Indian market in particular. During the ceremony, the Indian Minister who was present, along with the management of the Indian vehicle manufacturers, expressed the Government of India&#8217;s commitment to the success of the venture, India&#8217;s commitment to progress, and the desire to provide a better, cleaner and healthier future to both countries. &#8220;The signed LOI agreements, both with Ashok Leyland, one of the largest bus manufacturers in the world, and with Maruti Suzuki, &hellip; Continue reading \"IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India &#8211; Ashok Leyland and Maruti Suzuki to test Phinergy&#8217;s aluminium-air battery in electric vehicles\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-24T16:06:46+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN20456&amp;sd=2021-03-24","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iop-the-company-jointly-owned-by-phinergy-and-indian-energy-major-indian-oil-corporation-ioc-will-collaborate-with-two-leading-automakers-in-india-ashok-leyland-and-maruti-suzuki-to-test-phinerg\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"IOP, the company jointly owned by Phinergy and Indian energy major Indian Oil Corporation (IOC), will collaborate with two leading automakers in India &#8211; 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