Hindalco signs MoU with Phinergy and IOC Phinergy

20 Jul 2022 , 01:32 AM

Hindalco Industries has signed an MoU with Phinergy a leading Israel-based pioneer in metal-air battery technology and IOC Phinergy IOP – a joint venture between Phinergy and Indian Oil Corporation As per the MOU Phinergy and IOP will partner exclusively with Hindalco in India on RD and pilot production of aluminium plates for Aluminium-Air batteries and recycling of aluminium after usage in these batteries In the Aluminium-Air battery developed by Phinergy energy is released when aluminium reacts with oxygen in ambient air to produce aluminium hydroxide Due to its light weight and high energy density an Aluminium-Air battery significantly increases the driving range of Electric Vehicles It also enables quick refuelling and eliminates the need for expensive nationwide charging networks Aluminium-air batteries are expected to make EV adoption more convenient and accelerate the transition to zero emission mobility An added benefit is that aluminium hydroxide in the battery can be recycled to recover aluminium The leading automobile manufacturers in India are currently testing the technology The EV market which would be the primary segment for Aluminium-Air batteries is projected to achieve cumulative sales of 80 million units by 2030 according to a joint report by the German Federal Ministry for the Environment Nature Conservation and Nuclear Safety and NITI Aayog Aluminium-Air batteries offer a viable alternative to other battery chemistries and will boost the domestic manufacturing of batteries to meet Indias growing demand for energy storage