Phinergy entered JV for metal-air batteries in China
There is a new battery joint venture in the making in China. Yunnan Aluminium has turned to fellow Chinese Shanghai Zuoyong New Energy Technology and Israeli Phinergy. Together they want to make metal-air batteries under the name of Yunnan Phinergy Chuang Neng Metal Air Battery.
The headquarters have already been founded in Kunming, in China’s southwestern Yunnan province, according to a Yunnan Aluminium filing to the Shenzhen stock exchange.
Phinergy and Yunnan Aluminium will each hold 32 percent of shares with the remaining 36 percent being owned by Shanghai Zuoyong New Energy Technology. The registered capital will be 813.82 million yuan (128.97m dollars).
In a statement, the mission has been described as introducing “the world’s leading aluminum-air battery technology, relying on [Yunnan Aluminium‘s] green and clean water and aluminum resources.”
Yunnan Aluminium is indeed styling itself as a sustainable source for alloy. For Phinergy, this is another expansion. Only in January, the Israeli innovator had agreed on cooperations with India’s Ashok Leyland as well as the Indian Oil Corporation. As of January 2016, Phinergy had raised a total of 288m dollars (we reported).
0 Comments