Indian Oil Corporation just upped their investment in Phinergy, a company that’s basically making magic with metal and air to create electricity. No, for real. This ain’t your grandma’s battery.
This second round of funding throws another $12.5 million at Phinergy, bringing Indian Oil’s total stake to a cool 17%. That’s like, serious BFF vibes.
So, what’s the tea on this metal-air tech? Phinergy’s got their fingers in all sorts of pies, from backing up your phone tower when the power’s out to powering major data centres. Imagine, no more scrambling for signal when the storm hits.
But wait, there’s more! Phinergy’s already got some big names on board, like Tata Motors and Maruti Suzuki in India, and they’re planning to ramp up production to meet the demand.
The big cheese at Phinergy, David Mayer, is hyped about the partnership: “This investment is like rocket fuel for our expansion plans, especially in India and Europe. We’re stoked that Indian Oil believes in our crew and tech, and we’re ready to crush our goals in backup power and data centres.”
So, is metal-air the future of energy? It’s too early to say, but Phinergy’s definitely got the potential to shake things up.
