Phinergy is an Israeli cleantech company that develops metal-air battery technology, converting abundant metals like aluminum and zinc into efficient energy carriers. Founded in 2009 by Aviv Tzidon, the company has established itself as a significant innovator in sustainable energy solutions. Listed on the Tel Aviv Stock Exchange (TASE: PNRG), Phinergy creates advanced energy systems for various applications, including electric vehicles, energy backup, and large-scale storage solutions. The company’s technology originated from research at Bar Ilan University in Israel, leading to numerous patents and continuous technological advancement in the clean energy sector.
Battery Technology
Phinergy’s metal-air battery systems represent a significant advancement in energy storage technology. The company’s aluminum-air batteries use aluminum as the anode and oxygen from ambient air as the cathode, enabling electric vehicles to travel up to 1,000 miles with occasional water replenishment. This innovative design reduces battery size and weight compared to traditional systems while maintaining high energy density.
The company also develops zinc-air batteries specifically designed for grid-scale energy storage applications. These systems provide effective solutions for renewable energy sources like solar and wind power, offering high-capacity storage at reduced costs. Both technologies demonstrate exceptional safety features and environmental benefits compared to conventional battery systems.
Phinergy’s battery management systems optimize performance and longevity while ensuring reliable operation across different applications. The company’s solutions eliminate the need for extensive electric infrastructure and reduce charging times, making them practical for both mobile and stationary applications.
Recent Projects
In February 2024, Indian Oil Corporation strengthened its partnership with Phinergy by completing a second investment round, increasing its stake to 17%. June 2023 marked the launch of Phinergy’s automated production facility, capable of manufacturing 10,000 backup systems annually. The company also demonstrated the effectiveness of its solutions during a crisis in October 2023, when its systems prevented cellular network failures. Additionally, Phinergy established a significant agreement with Indus Towers for deploying 300 energy backup systems.
Investors
Phinergy’s growth is supported by several strategic investors. Indian Oil Corporation stands as a major stakeholder, having invested approximately $25 million, with the latest $12.5 million investment completed in February 2024. Other investors include Doral Energy-Tech Ventures from Israel and Arconic, an American corporation. The company successfully completed its IPO on the Tel Aviv Stock Exchange in February 2021, expanding its investor base.
Business Details
Location: Kfar Saba, Israel
Website: https://phinergy.com
LinkedIn: https://www.linkedin.com/company/70894702
