Hindalco, Phinergy, and IOP partner to bring aluminum-air batteries to India
Hindalco Industries Ltd., (Hindalco), a subsidiary of Aditya Birla Group has partnered with Phinergy, an Israel-based metal-air battery pioneer, and IOC Phinergy Private Limited (IOP) [a joint venture between Phinergy and India's leading PSU Indian Oil Corporation], for bringing aluminum-air batteries to India's electric vehicle and energy storage sector.
According to the MoU, Phinergy and IOP will partner exclusively with Hindalco in India, on R&D and pilot production of aluminum plates for aluminum-air batteries, and recycling of aluminum after usage in these batteries. The partnership aims to boost India's energy security by reducing its reliance on imported batteries and accelerating EV adoption in the country.
"India has an abundance of aluminum resources and this technology can help enhance the nation's energy and resource security," said Satish Pai, MD, Hindalco Industries Limited.
"Climate action is integral to our business and our partnership with Phinergy and IOP is a significant step towards decarbonizing mobility. The partnership is also a testament to Hindalco's globally recognized capabilities in innovation and R&D and we are happy to contribute to the development of the Aluminium-Air battery."
The EV market in India, which would be a primary segment for aluminum-air batteries, is estimated to record robust growth by the end of the decade. According to a joint report released by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, and NITI Aayog the EV market in India is projected to achieve cumulative sales of 80 million units by 2030.
"Phinergy strongly believes Aluminium-Air batteries will contribute to the clean energy revolution in India," David Mayer, CEO of Phinergy said commenting on the partnership.
"The partnership with Hindalco, a global aluminum industry leader, is a major step in the deployment of Aluminium-Air batteries in India and we are confident this collaboration will significantly enhance the development of an ecosystem enabling to supply 'aluminum as energy' made in India."
IOP, the third entity in the partnership has been incorporated with the stated purpose of commercialization and manufacturing of Aluminum-air energy systems in India. IOP will mainly focus on deploying the Aluminum-air technology in India, using one of the country's abundantly available resources -- aluminum -- which is also a clean and sustainable source of energy.
"Aluminium is abundantly available in India and its usage as an energy storage medium through this novel technology has the potential to contribute immensely to Atmanirbhar Bharat," said Sanjeev Gupta, Chairman, IOP.
"This partnership with Hindalco is a big step towards catalyzing our efforts to develop a favorable ecosystem for faster dissemination of the Aluminium-Air battery technology. The collaboration will propel India's aspirational journey toward sustainable, affordable, and safe energy options for stationary and e-Mobility purposes," Gupta added.
Last week ( July 13 ), Phinery's Chairman Aviv Tzidon and CEO, David Mayer met with the Indian Minister for Oil and Gas, Mr. Hardeep Singh Puri, and Chairman of IOC, Shrikant M. Vaidya in India to discuss how Phinergy's Aluminum-air technology will enable EV adoption in India easier and serve as a reliable clean energy backup.
"Big revolutions come in small packages! 100 such small aluminum plates in air batteries developed by Phinergy in a JV with Indian Oil will power a 50-seater bus for about 500 km!", Minister for Oil and Gas, Hardeep Singh Puri tweeted.