Clean energy co Phinergy files for TASE IPO

Aviv Tzidon

Phinergy's metal-air technology provides clean energy generation and storage solutions.

Israeli clean energy technology company Phinergy has filed for an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE). The company was founded in 2009 by veteran entrepreneur Aviv Tzidon.

Phinergy's aluminum-air and zinc-air technology provide clean energy generation and storage solutions for applications in energy backup, electric mobility and renewable energy storage.

Market sources believe that Phinergy will try to raise $50-60 million at a company valuation of $250 million, before money. The IPO is being led by Leader Underwriters, Leumi Partners, and Menora Underwriters.

The company has raised NIS 250 million to date and has 45 employees. In 2020 the company's net loss narrowed by 40% to NIS 29 million.

Published by Globes, Israel business news - en.globes.co.il - on January 6, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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