Indian Oil signs LoI with 2 Israeli Firms


Indian Oil Corporation has signed Letters of Intent (LoI) with Phinergy, an Israeli start-up company, and YEDA, a technology spin-off company from Weizmann Research Institute, Israel.

The agreement with Phinergy will allow Indian Oil to work on adoption of advanced energy systems for the Indian market both for mobility and stationary industrial applications. This association could lead to the setting up of manufacturing units for these energy systems initially in India.

Source- The Hindu Business Line