Alcoa, Israel-based Phinergy Plan Aluminum-Air Battery Joint Venture
On Wednesday, Alcoa Inc. announced it has entered into a joint development agreement with Phinergy to develop electric vehicle batteries that run on air and aluminum.
Making the announcement at the Advanced Automotive Battery Conference in Atlanta, Alcoa (NYSE: AA) said the companies will collaborate on developing new materials, processes and components to commercialize the aluminum-air battery. Alcoa said it expects the new technology can extend electric vehicle range by about 1,000 miles.
Alcoa's team will be working on the project at the Alcoa Technical Center, in New Kensington.
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