Strategic metals company TNG has signed a key Memorandum of Understanding with Sumitomo Electric Industries (SEI) and Energy Made Clean (EMC) to collaborate on the promotion, development and growth of Australia’s Vanadium Redox Flow Battery (VRF) market.
Under the MoU, TNG will work together with SEI and EMC to review all of the potential applications of VRF in Australia with a view to subsequently co-operating on the marketing and sales of VRF. In addition, the parties have agreed to jointly establish a demonstration of VRF of commercial size in Australia to showcase SEI’s technology.
TNG will assess the feasibility and implementation of a Vanadium Electrolyte production facility in either Perth or Darwin.
The company’s managing director, Paul Burton, said the company was delighted to have joined forces with a leading global industrial conglomerate in SEI and a rapidly growing renewable energy proponent in EMC to help facilitate the development of a major new market opportunity for alternative energy supply in Australia.
“The rapid development of growth and off-grid and mobile energy solutions using both vanadium redox and lithium-ion battery technologies has been sweeping the world and is now widely acknowledged as a transformational event in the global economy,” said Burton.
“TNG has the opportunity to participate as a key supplier of vital raw material for the vanadium redox battery sector, and by joining forces with two established market participants we can help to open up and drive the growth of the alternative energy market in Australia.”