Israeli electric car battery company Phinergy has completed a $50million round of funding to continue developing its aluminium-air and zinc-air batteries.
The investment round was led by a $10million injection by aluminum manufacturer Alcoa, and brings Phinergy’s total valuation to $280 million, according to Israeli financial news site Calcalist.
Phinergy is developing aluminum-air and zinc-air batteries for low-to-zero-carbon emission applications including energy storage systems and transport.
The firm’s aluminium-air batteries were tested in trials for electric vehicle in Canada and an electric boat in Switzerland during 2014. Both trials were in partnership with metals engineering company Alcoa.
