PHINERGY LTD - PHNGF STOCK NEWS

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Phinergy Ltd (PHNGF) is an innovative cleantech company based in Israel, developing breakthrough clean energy backup and resilience solutions for various industries. The company's patented metal-air technology harnesses the vast energy of aluminum and zinc to generate power by combining the metal with oxygen from the air. Phinergy's solutions cover a wide range of applications, including energy backup for critical sites, electric vehicles, and renewable energy storage.

Phinergy has recently secured a significant investment from Indian Oil Corporation, further expanding its operations in India and strengthening its position in the energy sector. With strategic activities in the Indian subcontinent and partnerships with key industry players, Phinergy continues to drive innovation and sustainability in the global energy landscape.

02/14/2024 08:00 AM

News

Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%

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Indian Oil Corporation invests $25 million in Phinergy, increasing its stake to 17% and enabling Phinergy's expansion in India and growth in metal-air technology applications.

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Phinergy prevented the collapse of cellular networks on October 7

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Phinergy's backup energy system installed at local telecom sites in the Gaza border region provided continuous cellular communications for tens of hours during a recent terror attack. The innovative aluminum-air technology has proven effective in emergency situations, and the company's smart remote management allowed for efficient electricity consumption during the crisis.

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Phinergy will present a Tata Motors passenger vehicle prototype, powered by Phinergy's aluminum-air battery, at the largest automobile exhibition in India

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On November 15, 2022, Phinergy announced it will showcase a prototype of the Tata Tiago electric car, utilizing Phinergy's innovative aluminum-air battery technology, at Auto Expo India 2023. This collaboration with Tata Motors highlights Phinergy’s strategic partnership with Indian Oil Corporation through IOC Phinergy Private Limited. With the Indian automobile market poised for growth, the integration of aluminum-based energy systems positions Phinergy for significant advancement in clean transportation. Phinergy aims to create a sustainable ecosystem involving major Indian manufacturers and energy providers.

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FAQ

What is the market cap of PHINERGY (PHNGF)?

The market cap of PHINERGY (PHNGF) is approximately 131.1M.

What is Phinergy Ltd known for?

Phinergy is renowned for its innovative metal-air technology that generates electricity by combining aluminum and zinc with oxygen from the air, offering clean energy solutions for various industries.

Who recently invested in Phinergy?

Indian Oil Corporation has completed its second round of investment in Phinergy, totaling $12.5 million and increasing its holding in the company to 17%.

What are Phinergy's key markets?

Phinergy has established a strong presence in the Indian subcontinent, with strategic activities in the energy ecosystem, telecom backup power, and collaborations with leading companies like Tata Motors and Maruti Suzuki.

What recognition has Phinergy received?

Phinergy is a World Economic Forum "Technology Pioneer", acknowledged for its revolutionary sustainable energy solutions and commitment to driving innovation in the cleantech industry.

How does Phinergy's technology work?

Phinergy's patented metal-air technology leverages aluminum and zinc to generate energy by combining the metals with oxygen from the air, providing a sustainable and efficient power source for various applications.

What upcoming expansion plans does Phinergy have?

Phinergy is focusing on expanding its operations in India through its local subsidiary, increasing production of energy systems, and exploring applications in data centers with a US cloud provider.

Who leads Phinergy?

Aviv Zidon, the chairman and founder of Phinergy, oversees the company's strategic direction and growth, driving innovation in clean energy solutions for a sustainable future.

What recent achievements has Phinergy celebrated?

Phinergy recently secured an investment from Indian Oil Corporation, expanded its partnerships in the Indian automobile market, and received orders for backup systems for telecom towers, signaling continued growth and success in the energy sector.

How can I learn more about Phinergy?

For further information about Phinergy's innovative cleantech solutions and breakthrough technology, visit their official website at phinergy.com or contact Mr. Dor Ganor, Media@Phinergy.com for inquiries.

Why is Phinergy considered a pioneer in sustainable energy?

Phinergy's groundbreaking metal-air technology and commitment to driving innovation in clean energy solutions have earned the company recognition as a World Economic Forum "Technology Pioneer", highlighting its leadership in sustainable energy innovation.