Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%
_TO DATE, INDIAN OIL HAS PURCHASED OVER 14.8 MILLION PHINERGY SHARES, IN TWO INSTALLMENTS, FOR A TOTAL OF APPROXIMATELY $25 MILLION_
Phinergy (TASE: PNRG) - which develops metal-air technology that produces electricity by combining oxygen from the air with metals - is delighted to announce that multinational energy giant, Indian Oil Corporation, has completed its second round of investment in the company in the amount of $12.5 million. This brings Indian Oils holding in Phinergy to 17%, purchased in two installments!-->…