IOP is a joint venture of Indian Oil Corporation Limited (IndianOil) and Phinergy Ltd., Israel
The company’s objective is to commercialize Aluminum-Air Technology in India for electric vehicles and stationary applications. The company will manufacture, market Aluminum-Air Systems and also develop associated ecosystem to support the technology
Who are the promoters of IOP?
IndianOil & Phinergy are the promoters of the IOP with 50:50 shareholding.
IndianOil is a diversified, integrated energy major with a presence in almost all the streams of oil, gas, petrochemicals and alternative energy sources. IndianOil leverages high-caliber people and state-of-the-art technologies to tap all forms of energy responsibly and deliver them to the consumers most affordably. India's highest rank Energy PSU on the Fortune-500 list (Rank 142), IndianOil, recorded Revenue from Operations of ₹7,28,460 crores and a net profit of ₹24,184 crores for the financial year 2021-22.
As a Brand with one of the largest customer interfaces in India, IndianOil reaches precious petroleum fuels to every nook and corner of the country through its network of over 56,000 plus customer touch-points, surmounting the challenges of tough terrain, climate and accessibility. The marketing network is bolstered by 80.55 MMTPA of Group Refining Capacity and more than 15,000 KM of cross-country pipelines.
Phinergy is an innovative cleantech company based in Israel, developing breakthrough clean energy systems based on its patented metal-air technology. This technology enables energy generation by combining oxygen from ambient air with metals, specifically aluminum and zinc. The applications of Phinergy’s technology include energy backup for critical sites, range extension for electric vehicles, and use as a renewable energy storage.
It was founded in 2009, under the laws of Israel & listed at Tel-Aviv Stock Exchange in 2021.
Phinergy's Aluminum-Air energy system provides zero-emission, high energy density solutions for stationery and mobility applications.
In June 2021, the World Economic Forum included Phinergy in its prestigious list of the 100 most promising technology companies in the world for 2021.
What are the key components of Al-Air Battery?
Anodes (Aluminium alloy)
Air cathodes
Electrolyte (KOH)
Energy Management System
Associated pump, heat exchanger & other electronic components etc.
Scope of recycling in the battery?
Both the ATH formed & used electrolyte can be regenerated to Aluminum metal and fresh electrolyte using separation process
What is the impact on Battery performance in tropical climatic conditions?
No impact on battery performance while operating in tropical climatic conditions like India including high environmental temperature.
No risk of Thermal Runway unlike Lithium-Ion batteries.
How much time does it take to charge the Battery?
In ~5 Minutes battery can be fully charged mechanically.
How much is the Self-discharge rate in Battery over months?
No such problem exists in Al-Air Battery
What are the Target Applications for the Technology?
EVs-3W,4W, Bus and LCV
DG replacement in stationary applications.
Stationary Energy backup applications, e.g. Telecom Tower & Data center etc.
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