State-owned Indian Oil Corp (IOC) today signed an initial pact with Israel's Phinergy Ltd for developing ultra-lightweight metal-air batteries that can be used in electric vehicles (EVs). IOC Chairman Sanjiv Singh and Daniel Carmon, Ambassador of Israel to India, have exchanged a letter of intent (LoI) amidst the visit of Prime Minister of Israel Benjamin Netanyahu to India. The LoI envisages encouraging joint Research and development, deployment and manufacturing activities in the area of metal-air batteries for an array of applications, as stationary energy storage systems, electric mobility solutions.
In theory, metal air battery for an EV could be ultra-lightweight, and have a long-lasting regenerative cathode with very high 'energy density' that can be stored and provided for the car. Commercial applications are being worked on. IOC also signed a LoI with Yeda Research and Development Co Ltd for cooperation in concentrated solar thermal technologies.
"This LoI intends to encourage joint research activities in the area of concentrated solar thermal technologies including concentrated solar power generation, solar fuels, solar thermal storage materials, technologies, systems and concepts," the statement said.
The two agreements were among the nine pacts signed after talks between Prime Minister Narendra Modi and Netanyahu for bolstering bilateral ties in strategic areas.
A memorandum of understanding (MoU) was also signed between India's Ministry of Petroleum and Natural Gas and the Ministry of Energy on Cooperation of Israel for cooperation in oil and gas sector.
"Through this MoU both the sides are looking to explore opportunities of long-term cooperative relationship and joint economic projects to enhance bilateral engagements in the field of oil and gas, inter-alia including collaboration in upstream sector activities; R&D and technology; promoting institutional linkages between universities and R&D establishment for mutually beneficial collaboration; and in the area of Start-ups," it added.
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