IOC Phinergy Private Limited (or IOP) with its registered office at New Delhi is a 50:50 joint venture between IndianOil and Phinergy for the commercialization, manufacturing and research & development of Aluminium-Air technology in India.
Formation of JV
India's potential to achieve energy independence through Aluminium-Air (Al-Air) technology was envisioned by Honourable PM Sh Narendra Modi when Phinergy's technology and its relevance to India was presented during his visit to Israel.
In March 2021, IndianOil and Phinergy officially launched a Joint Venture IOC Phinergy Private Limited (or IOP).
IOC Phinergy Private Limited envisages to set-up the 1st ever full ecosystem for Aluminium-Air energy which will include Research & Development, Manufacturing, Assembly, Distribution, Charging Infrastructure, Regeneration & Recycling and Cell Battery Treatment.
Significant Milestones Achieved
IOP is using Phinergy's breakthrough energy systems based on its patented Aluminium-Air technology. The technology enables energy generation by combining oxygen from ambient air with aluminium. The applications of our technology include stationary energy storage and powering electric vehicles.
IOP is steadfastly committed towards deploying the Al-Air technology for offering a clean, sustainable, affordable, safe and long-lasting energy storage and mobility solution to India.
Since inception the Company has had a momentous path to development by collaborating with various Indian companies for technology integration, demonstration and field trial activities.
One of the key milestones in e-mobility sector include the demonstration of 500+ km drive with a 3 Wheeler EV in India resulting in tripling of its driving range with energy reload in less than 5 minutes at the end of the drive.
In stationary applications, we have successfully demonstrated our Aluminium-Air System at telecommunication sites in India, where it is replacing polluting and unsafe diesel generators, by providing dozens of hours of uninterrupted energy backup during power outages.
IOP is working with major 4-Wheeler OEMs in India for integration of Al-Air systems in their vehicles and field trials are expected to begin soon.
This revolutionary technology has strong support from the Indian government and industry leaders such as Indian Oil Corporation Ltd., automotive OEMs and telco infrastructure leaders. IndianOil's large service stations network will provide the aluminium energy to the vehicles in a similar and easy way as we are used to refuel gasoline today.