<ul><li>Aditya Birla Group has signed a memorandum of understanding (MoU) with <keyword id="6153063" type="General" weightage="20" keywordseo="phinergy" source="Orion">Phinergy</keyword> and <keyword id="14482190" type="General" weightage="20" keywordseo="ioc-phinergy" source="Orion">IOC Phinergy</keyword>.</li><li>The two companies will work exclusively with <keyword id="44374" type="General" weightage="20" keywordseo="hindalco" source="Orion">Hindalco</keyword> in India, on R&amp;D and pilot production of aluminium plates.</li><li>Aluminum-Air technology enables energy generation by combining oxygen from ambient air with metals, specifically aluminum and zinc.</li></ul>Aditya Birla Group’s metals flagship <keyword id="105310" type="General" weightage="20" keywordseo="hindalco-industries" source="Orion">Hindalco Industries</keyword> signed an agreement with Israel-based Phinergy and IOC Phinergy Private (IOP). The companies will work exclusively with Hindalco in India, on R&amp;D and pilot production of aluminium plates for Aluminum-Air batteries. The trio will also look into recycling of aluminum after usage in these batteries. “Climate action is integral to our business and our partnership with Phinergy and IOP is a significant step towards decarbonising mobility. The partnership is also a testament to Hindalco’s globally recognized capabilities in innovation and R&amp;D and we are happy to contribute to the development of the Aluminum-Air battery,” Satish Pai, managing director of Hindalco Industries, said. “India has an abundance of aluminum resources and this technology can help enhance the nation’s energy and resource security,” he added. Aluminum-Air technology enables energy generation by combining oxygen from ambient air with metals, specifically aluminum and zinc. Aluminum-Air batteries offer a viable alternative to other battery chemistries and will boost the domestic manufacturing of batteries to meet India’s growing demand for energy storage. Phinergy is a cleantech company famous for its metal-air battery technology, whereas IOC Phinergy is a joint venture between Phinergy and India's leading energy public sector unit (PSU) Indian Oil Corporation. The partnership with Hindalco is a major step in the deployment of Aluminum-Air batteries in India and it will “significantly” enhance the development of an ecosystem enabling to supply “aluminum as energy” made in India, Phinergy’s CEO David Mayer said. “The collaboration will propel India's aspirational journey towards sustainable, affordable and safe energy options for stationary and e-Mobility purposes," Sanjeev Gupta, chairperson of IOP, said. The <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">electric vehicles</keyword> (<keyword id="186291" type="General" weightage="20" keywordseo="ev" source="Orion">EV</keyword>) mark — which would be the primary segment for Aluminum-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. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-icici-pru-lt-technology-services-among-stocks-to-watch-out-for-on-july-18/slidelist/92944868.cms" style="">HDFC Bank, ICICI Pru, L&amp;T Technology Services among stocks to watch out for on July 18</a> <a href="https://www.businessinsider.in/thelife/personalities/news/ashish-chouhan-re-starts-his-second-innings-at-nse-as-its-md-and-ceo/articleshow/92944486.cms" style="">Ashish Chauhan re-starts his second innings at NSE, as its MD and CEO</a> <a href="https://www.businessinsider.in/business/news/indias-largest-wine-seller-sula-vineyards-files-for-an-ipo/articleshow/92919070.cms" style="">India’s largest wine seller Sula Vineyards files for an IPO</a>

Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries

New Delhi, Feb 4 () State-owned Indian Oil Corp (IOC) on Tuesday said it has acquired a minority stake in Israeli battery developer Phinergy Ltd for developing ultra lightweight metal-air batteries that can be used in electric vehicles (EVs).
 "To start with, IOC has taken a minority equity stake in Phinergy," the company said in a statement, without giving details about the size of interest or the acquisition cost.
 Founded in 2008, Phinergy develops an assortment of zero-emission batteries including aluminum-air and zinc-air batteries designed to offer power sources for electric cars.
 IOC and Phinergy will form a joint venture in India to collaborate in developing aluminium-air battery system including research &amp; development, customisation, manufacturing, assembly, sell and service of aluminium-air energy systems technology.
 "The joint venture intends to set up a factory in India to manufacture aluminium-air batteries for electric vehicles and stationary applications and facilitate development of eco-system for Al-Air technology," the statement said.
 Phinergy specialises in aluminium-air (Al-Air) and zinc-air battery systems that have great potential applications in electric mobility and stationary applications.
 Aluminium is naturally available in India and its extraction and recycling technologies are also very well established.
 "IOC's collaboration with Phinergy in the field of Al-Air will help in reducing import dependence of the country and isolates the country's energy requirements from global geo-political and currency risks," it said.
 IOC Chairman Sanjiv Singh said the company is evaluating and firming up a number of opportunities to provide Indian automobile consumers feasible and scalable alternative energy options.
 "We are confident that this Al-Air battery technology would complement Lithium-ion batteries to provide a hybrid solution for large-scale adoption of electric vehicles in the country. Al-air battery technology has advantages on a number of factors like range, energy density, safety of operations, life-cycle etc., the India-centric," he said.
 Phinergy is a start-up in clean and high energy-density battery systems based on metal-air technology, which generates electricity using aluminium or zinc as an energy source mainly.
 "Both companies are in discussions with leading auto manufactures for adoption of this technology in 3Ws, cars &amp; buses and they have also shown interest in evaluation and subsequent adoption of this technology," the statement said. ANZ RVK

IOC acquires stake in Israeli battery developer Phinergy

Mumbai, Mar 2 () Indian Oil, which has picked up a minority stake in high-tech battery maker Phinergy earlier this month, is in talks with leading domestic electric vehicle makers to start field trials for the metal-air batteries that the Israeli company specialises in. Indian Oil chairman Sanjiv Singh has also said they will soon form a joint venture with Phinergy to set up an unit to manufacture metal-air batteries called al-air battery system, which does not use electricity to recharge. Singh said, IOC has a board position at the Israeli company but refused to quantify the equity it has picked up in the Israeli firm. Phinenergy specialises in aluminium-air (al-air) and zinc-air battery systems. Metal-air batteries use metals like aluminum as the anode and air as the cathode, along with a liquid electrolyte. Aluminium-based metal-air battery uses oxygen from the air and combines it with the metal to create an aluminum hydroxide, which activates the electrolysis process and creates an electric current. These batteries are lighter and compact with high energy density. Metal-air batteries have great potential in electric mobility and stationary applications, aluminium is naturally available in the country with good extraction and recycling technologies. "If the field trials are successful and if our talks with EV makers fructify, the metal-air batteries can complement the lithium-ion batteries to provide a hybrid solution for large-scale adoption of electric vehicles. In terms of range, it can easily offer over 600 km," the chairman said. It can be noted that one of the biggest impediments facing EV adoption in the country is the lower battery range, coupled with public charging stations. The best available range is under 150 km per charge now, even though Tata Motors had last month said it would offer up to 300 km for the electric version of its compact SUV Nexon but commercial supply is yet to begin. The al-air batteries offer many an advantage like higher range, energy density, safety, longer life-cycle among others. Singh also said the company has already set up 43 EV charging stations and will pursue its plans to manufacture lithium-ion battery cells and also hydrogen cells. BEN DRR

IOC-Phinergy to begin metal-air battery field trials; in talks with auto cos

Newly elected Member of <keyword id="48510" type="General" weightage="80" keywordseo="rajya-sabha" source="Orion">Rajya Sabha</keyword> from <keyword id="6354953" type="General" weightage="80" keywordseo="punjab" source="Orion">Punjab</keyword>, Vikramjit <keyword id="5093144" type="General" weightage="80" keywordseo="singh-sahney" source="Orion">Singh Sahney</keyword>, who is the International President of <keyword id="615847" type="General" weightage="50" keywordseo="world-punjabi-organisation" source="Orion">World Punjabi Organisation</keyword>, on Monday announced to donate all his and staff salary during his tenure of six years for the education of economically weaker students. Padma Shri <keyword id="746637" type="General" weightage="80" keywordseo="sahney" source="Orion">Sahney</keyword> made this announcement before taking oath of office in <keyword id="6354721" type="General" weightage="50" keywordseo="parliament" source="Orion">Parliament</keyword>. Before the oath, he took part in 'kirtan' and 'ardaas' organised at Gurdwara Rakab Ganj Sahib here. On the occasion, Sahney announced that he will donate all his and staff salary of his tenure for the education of economically weaker students. He launched <keyword id="14487465" type="General" weightage="50" keywordseo="punjab-education-fund" source="Orion">Punjab Education Fund</keyword> and the amount works out to around Rs 32 lakh per year and this will turn out to be Rs 2 crore in six years. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/after-india-us-could-be-the-next-country-to-crack-down-on-vpn-service-providers-for-deceptive-data-practices/articleshow/92949353.cms">After India, US could be the next country to crack down on VPN service providers for deceptive data practices</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hindalco-indian-oil-and-israels-phinergy-join-hands-to-make-aluminum-air-batteries/articleshow/92948131.cms">Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries</a>

AAP MP donates entire salary for education of students

<ul><li>The projects undertaken by L&amp;T Realty in Mumbai have a development potential of 4.4 million square feet.</li><li>This is also a part of the company's larger plan to strengthen its footprint in major metros.</li><li>The South Mumbai project would be developed over a land parcel of five acres that offers a clear harbour view.</li></ul>The real estate development arm of Larsen &amp; Toubro, L&amp;T Realty, on Monday announced that it will be jointly developing projects worth ₹8,000 crore in various parts of Mumbai including South Mumbai, western suburbs and Thane. The projects — which have a development potential of 4.4 million square feet — would aid L&amp;T Realty’s geographical expansion in Mumbai. This is also a part of the company's larger plan to strengthen its footprint in major metros by adding around five million square feet per year over the next five years. “We are committed to expanding our reach and continue looking into new markets. With signature elements from L&amp;T Realty, these projects will have iconic features,” said Shrikant Joshi, MD and CEO of L&amp;T Realty. According to the company, the South Mumbai project would be developed over a land parcel of five acres that offers clear harbour views, along with good connectivity to all parts of Mumbai. This residential complex will have 50 storey twin towers with luxury amenities and retail. Meanwhile, the company would develop a 20 tower residential complex in Andheri that falls under western suburbs. This would be L&amp;T Realty’s first project in the region. The Thane project will be developed on a six-acre land parcel, surrounded by social infrastructure and “ample amenities in-house”. L&amp;T Realty has an extensive portfolio spanning 70 million square feet — spanning Mumbai, Navi Mumbai, Bengaluru, Chennai, National Capital Region (NCR) and Hyderabad — across residential, commercial and retail developments. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/nifty-50-remains-the-top-performer-in-asia-despite-tussle-between-bulls-and-bears/articleshow/92952677.cms">Nifty 50 remains the top performer in Asia despite tussle between bulls and bears</a> <a href="https://www.businessinsider.in/thelife/personalities/news/ashish-chouhan-re-starts-his-second-innings-at-nse-as-its-md-and-ceo/articleshow/92944486.cms">Meet the new CEO of NSE Ashish Chauhan, creator of Nifty and father of derivatives</a> <a href="https://www.businessinsider.in/business/corporates/news/hindalco-indian-oil-and-israels-phinergy-join-hands-to-make-aluminum-air-batteries/articleshow/92948131.cms">Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries</a>

L&T Realty to develop residential projects worth ₹8,000 crore in South Mumbai, Andheri and Thane

<ul><li>The government of India believes that a “global collaboration” is needed for any effective regulation or ban on cryptocurrency.</li><li>The Indian government has put cryptocurrency in the highest tax bracket of 30%, the same rate as lottery winning.</li><li>The Indian finance minister, earlier this year, also specified that taxing cryptocurrency does not give it a legal status.</li></ul>The Reserve Bank of India (RBI) has recommended the government to frame regulations for cryptocurrency, finance minister Nirmala Sitharaman said in the parliament on Monday (July 18). "In view of the concerns expressed by the RBI on the destabilizing effect of cryptocurrencies on the monetary and fiscal stability of a country, the RBI has recommended for framing of legislation on this sector. The RBI is of the view that cryptocurrencies should be prohibited," the finance minister said in a written response to a question in the Lok Sabha. She further added that the government believes that a “global collaboration” is needed for any effective regulation or ban on cryptocurrency as the digital currency is borderless in nature. "Therefore any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards," she emphasized. The government of India has not made its stance on cryptocurrency public, so far. However, it did introduce tax on all profits coming from crypto at <a href="https://www.businessinsider.in/budget/news/from-cryptocurrencies-to-nfts-india-to-tax-all-virtual-digital-assets-at-30/articleshow/89268587.cms">a flat 30% rate</a>, which is the highest tax bracket and the same rate as lottery winnings. The government has also mandated a 1% tax deducted at source (TDS) on all crypto transactions redemptions, even the ones that make a loss. Sitharaman, earlier this year, also specified that<a href="https://www.businessinsider.in/cryptocurrency/news/taxing-cryptocurrencies-does-not-give-them-legal-status-clarifies-indias-finance-minister/articleshow/89500097.cms"> taxing cryptocurrency</a> does not give it a legal status. There has been speculation that the government could introduce legislation to regulate cryptocurrency and crypto sector in the monsoon session of parliament. However, no such bill has been listed for discussion as of now. While speaking at India Global Forum earlier this year in February, Sitharaman had also taken a <a href="https://www.businessinsider.in/cryptocurrency/news/the-proposal-for-crypto-tax-policy-will-be-up-for-discussion-in-indian-parliament-today/articleshow/90414919.cms">jibe on the crypto taxation</a>. On being asked <a href="https://www.businessinsider.in/cryptocurrency/news/indias-finance-minister-nirmala-sitharaman-says-she-expects-the-central-bank-to-roll-out-the-countrys-digital-currency-this-year/articleshow/90074661.cms">whether she sees the future of crypto in India</a>, she said, “Many Indians have seen a lot of future in it and, therefore, I see a possibility of revenue in it.” SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/nifty-50-remains-the-top-performer-in-asia-despite-tussle-between-bulls-and-bears/articleshow/92952677.cms">Nifty 50 remains the top performer in Asia despite tussle between bulls and bears</a> <a href="https://www.businessinsider.in/thelife/personalities/news/ashish-chouhan-re-starts-his-second-innings-at-nse-as-its-md-and-ceo/articleshow/92944486.cms">Meet the new CEO of NSE Ashish Chauhan, creator of Nifty and father of derivatives</a> <a href="https://www.businessinsider.in/business/corporates/news/hindalco-indian-oil-and-israels-phinergy-join-hands-to-make-aluminum-air-batteries/articleshow/92948131.cms">Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries</a>

RBI seeks a crypto ban but it needs global collaboration, says Nirmala Sitharaman

The <keyword id="6355302" type="General" weightage="20" keywordseo="Rupee" source="Orion">rupee</keyword> appreciated 6 paise to 79.76 against the US <keyword id="35208" type="General" weightage="20" keywordseo="Dollar" source="Orion">dollar</keyword> in early trade on Monday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.76 against the American dollar, registering a gain of 6 paise over the last close. In initial deals, the local unit witnessed an early high of 79.72 and low of 79.81 against the American currency. The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency. "<keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> may protect the level of 80 for some more time before it can allow a break of the same. The trade deficit is very high for the rupee to sustain while importers/ debt companies will keep buying dollars to pay off their payables," said Anil Kumar Bhansali, Head of <keyword id="6374832" type="General" weightage="80" keywordseo="treasury" source="Orion">Treasury</keyword>, <keyword id="12041513" type="General" weightage="50" keywordseo="finrex-treasury-advisors" source="Orion">Finrex Treasury Advisors</keyword>. Bhansali further said,"flows have not resumed and FPIs are still sellers in the stock market, though the intensity has come down. <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> may possibly be the highest growth country amongst the big-sized markets and with good rainfall, demand could be good enough. RBI may hike rates of interest to attract flows but let growth continue." On the domestic equity front, the 30-share <keyword id="6484188" type="General" weightage="50" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 381.25 points or 0.71 per cent higher at 54,142.03, while the broader NSE Nifty advanced 136.35 points or 0.85 per cent to 16,185.55. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.26 per cent to 107.77. Global oil benchmark Brent crude futures rose 0.71 per cent to USD 101.88 per barrel. Foreign institutional investors remained net sellers in the capital market on Friday, offloading shares worth Rs 1,649.36 crore, as per exchange data. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-duty-cuts-on-edible-oil-will-offset-rupee-fall-but-it-will-widen-gap-between-healthy-and-unhealthy-choices/articleshow/92947936.cms">India’s duty cuts on edible oil will offset rupee fall but it will widen gap between healthy and unhealthy choices</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hindalco-indian-oil-and-israels-phinergy-join-hands-to-make-aluminum-air-batteries/articleshow/92948131.cms">Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries</a>

You Searched For "phinergy" and got 7 results

Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries

Kritti Bhalla

IOC acquires stake in Israeli battery developer Phinergy

PTI

IOC-Phinergy to begin metal-air battery field trials; in talks with auto cos

PTI

AAP MP donates entire salary for education of students

IANS

L&T Realty to develop residential projects worth ₹8,000 crore in South Mumbai, Andheri and Thane

Kritti Bhalla

RBI seeks a crypto ban but it needs global collaboration, says Nirmala Sitharaman

Kritti Bhalla

Rupee gains 6 paise to trade at 79.76 against the US dollar

PTI