IOC inks pact with Phinergy to develop ultra lightweight batteries for EVs

16 Jan 2018 Evaluate

Indian Oil Corporation (IOC) has signed an initial pact with Israel’s Phinergy for developing ultra lightweight metal-air batteries that can be used in electric vehicles (EVs). The letter of intent (LoI) envisages to encourage joint Research and development, deployment and manufacturing activities in the area of metal-air batteries for an array of applications, as stationary energy storage systems, electric mobility solutions etc.

Besides, the company has also signed a LoI with Yeda Research and Development Co for cooperation in concentrated solar thermal technologies. This LoI intends to encourage joint research activities in the area of concentrated solar thermal technologies including concentrated solar power generation, solar fuels, solar thermal storage materials, technologies, systems and concepts.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.


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