The Minister of Petroleum and Natural Gas & Steel, Dharmendra Pradhan, along with Minister of Energy, Israel, Yuval Steinitz, announced the launch of a joint venture (IOC Phinergy Limited) between the Indian Oil Corporation Limited and Phinergy, an Israeli start-up company specializing in hybrid lithium-ion and aluminum-air and zinc-air battery systems. Based on domestically available aluminum, the joint venture plans to manufacture Aluminum-Air systems in India. The new Indo-Israeli JV also intends to develop fuel cells and indigenous hydrogen storage solutions for promoting green mobility.