Clean energy company Phinergy (TASE: PNRG), a developer of clean power back-up based on aluminium-air technology, announced this morning that its technology had been chosen by the Net Zero Innovation Hub for Data Centers, a consortium of companies involved in data centers led by Google and Microsoft, as the main solution for replacing diesel-fueled generators at data centers. The company signed a binding agreement this morning.
Phinergy has a market cap of NIS 130 million after shedding 50% of its value since the beginning of the year. Co-founder and chairperson Aviv Tzidon holds about a quarter of the shares in the company. Phinergy was floated on the Tel Aviv Stock Exchange in 2021 at a valuation of NIS 800 million. Its share price has since fallen by 90%.
Under the agreement, Phinergy will collaborate with the two technology giants on a process of demonstration and validation for aluminium-air systems on a large scale for incorporation into data center infrastructure and as preparation for global commercial deployment.
The project will facilitate an examination process adapted to the requirements of Microsoft, Google, and the other companies in the Net Zero consortium (some of which are potential customers for the final product), in order to maximize the fit between the final product and market demands. The aim of Net Zero is to accelerate the adoption of technologies selected by the consortium and their commercial rollout.
The project will be managed by a joint steering committee of the two sides. The demonstration and validation activity will be financed by Net Zero, to the tune of some NIS 2.3 million. Phinergy will install a system with an output of 500 kilowatts and a capacity of 10 megawatt-hours at the site of one of the NetZero companies. The demonstration and validation process is expected to be complete by the fourth quarter of 2026.
Any intellectual property in connection with aluminium-air technology developed in the course of the project will belong exclusively to Phinergy.
Phinergy CEO Emmanuel Levy said, “This is an important milestone in our journey to make aluminium-air technology the new standard for clean back-up at data centers.”
Published by Globes, Israel business news – en.globes.co.il – on October 27, 2025.
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