Phinergy Awarded as Technology Pioneer by World Economic Forum
15 Jun, 2021, 14:33 IDT
KFAR SABA, Israel, June 15, 2021 /PRNewswire/ --
- The World Economic Forum announced its selection of the 100 most promising Technology Pioneers of 2021 - companies that are shaping industries from healthcare to energy and many more.
- Phinergy, a leading pioneer in metal-air technology based in Israel, has been selected as a Technology Pioneer for its innovative energy solutions which turn metals, such as aluminum and zinc, into a clean, sustainable and cost-effective means of storing, transporting and generating energy.
- Technology Pioneers are an integral part of the Forum's Global Innovators community, which is an invitation-only group of the world's most promising start-ups and scale-ups that are at the forefront of technological and business model innovation
Phinergy (TASE: PNRG), which develops metal-air technology that combines oxygen from the air with metals to generate electricity, was selected among hundreds of candidates as one of the WEF's "Technology Pioneers". Phinergy's technology, which originated at Bar-Ilan University in Israel, provides a clean, affordable way to extract the energy contained in metals such as aluminum – the most abundant metal on Earth – and zinc. Its applications include creating energy resilience and reliability for critical infrastructure (telecom sites, data centers, commercial and industrial centers), range extension and fast charging for electric vehicles, and low-cost storage for renewable solar and wind energy. Phinergy has notably partnered with Indian Oil Corporation (IOCL) for the deployment of aluminum-air technology in India, leveraging IOCL's network of 30,000 service stations for supplying aluminum as a clean source of energy.
The World Economic Forum's Technology Pioneers are early to growth-stage companies from around the world that are involved in the use of new technologies and innovation that are poised to have a significant impact on business and society.
With its selection as Technology Pioneer, Phinergy's CEO, David Mayer, will be invited to participate at World Economic Forum activities, events and discussions throughout the year. Phinergy will also contribute to Forum initiatives over the next two years, working with global leaders to help address key industry and societal issues.
"We're excited to welcome Phinergy to our 2021 cohort of Technology Pioneers," says Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. "Phinergy and its fellow pioneers are developing technologies that can help society solve some of its most pressing issues. We look forward to their contribution to the World Economic Forum in its commitment to improving the state of the world."
"It is a great honor to be recognized as a Technology Pioneer by the WEF and join this group of world-changing companies," says Phinergy's CEO, David Mayer. "Phinergy's unique metal-air technology provides a clean and affordable way to extract the energy contained in highly abundant metals such as aluminum and zinc. Through our technology, these natural resources become fully recyclable energy carriers. Our clean energy systems have been tested and deployed for various applications – telecommunications, data centers, electric vehicles and renewable energy storage – and we believe metal-air technology will play a key role in the global energy transition and in shaping the future of energy. We look forward to contributing to the Forum dialogues around these challenges."
Technology Pioneers have been selected based on the community's selection criteria, which includes innovation, impact and leadership as well as the company's relevance with the World Economic Forum's Platforms.
All info on this year's Technology Pioneers can be found here: http://wef.ch/techpioneers21
More information can be found here.
About Phinergy: Phinergy is an innovative cleantech company based in Israel, developing breakthrough clean energy systems based on its patented metal-air technology. This technology enables energy generation by combining oxygen from ambient air with metals, specifically aluminum and zinc. The applications of Phinergy's technology include energy backup for critical sites, range extension for electric vehicles, and use as a renewable energy storage. Phinergy is publicly listed on the Tel-Aviv Stock Exchange (TASE:PNRG) and employs around 50 people.
About WEF: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).
About the Technology Pioneers:
The World Economic Forum believes that innovation is critical to the future well-being of society and to driving economic growth. Launched in 2000, the Technology Pioneer community is composed of early to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
The World Economic Forum provides the Technology Pioneers community with a platform to engage with the public- and private-sector leaders and to contribute new solutions to overcome the current crisis and build future resiliency.
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