TNG to Develop Vanadium Redox Flow Batteries in Malaysian Green Energy Collaboration
Resource and mineral processing technology company TNG Limited (ASX: TNG) has inked a deal to work with Malaysian green energy company AGV Energy & Technology to develop vanadium redox flow batteries (VRFB) and hydrogen technology.
According to a heads of agreement, the pair will collaborate on the proposed integration of VRFB with AGV Energy’s green hydrogen production technology, which it has been developing with a pilot project planned in Malaysia.
This green hydrogen technology, known as ‘HySustain’, is designed to produce green hydrogen and oxygen using the electrolysis of demineralised water and renewable energy. AGV Energy plans to use VRFB as its preferred energy storage system for HySustain at its Malaysian project.
TNG has signed a heads of agreement with AGV Energy & Technology to work on VRFB and green hydrogen commercialisation opportunities.
In addition, the companies have agreed to explore formal collaboration opportunities for the commercialisation of HySustain in Australia, as well as other opportunities for the application of VRFB in Malaysia.
AGV Energy is a subsidiary of the Malaysia-based environment, sustainability and climate change consultancy AGV Group.
Rollout of HySustain technology
AGV Energy is planning a phased rollout of its scalable HySustain technology with the first commercial application planned at an advanced project in Malaysia.
As the production of green hydrogen relies on electricity wholly produced from renewable energy sources, AGV Energy intends to use purpose-built, project-specific solar farms to provide this green electricity.
The company considers VRFB as the preferred battery system for integration with HySustain as it offers large, scalable and long-life energy storage for solar power generation.
TNG managing director Paul Burton called the collaboration another key step in the company’s ongoing green energy strategy to reduce net carbon emissions, including future emissions from its flagship Mount Peake vanadium-titanium-iron project in the Northern Territory.
“HySustain is a great opportunity to showcase an integrated VRFB storage solution.”
“We also intend to work with AGV Energy on the potential rollout of HySustain in Australia, given the significant momentum within Australia and the resources industry to move towards a hydrogen-based economy,” he added.
TNG and AGV Energy are now advancing discussions to formalise business planning and commercial arrangements for its collaboration.
AGV Energy claims it is also in talks with potential hydrogen offtake partners in the Asia Pacific region.
Complementary to TNG-V-Flow joint venture
TNG said its new agreement with AGV Energy is an “excellent and complementary” opportunity for the planned VRFB product being developed and commercialised by TNG in joint venture with V-Flow Tech.
TNG partnered with the Singaporean-based battery technology developer in April with the intent to jointly develop a VRFB storage business initially targeting applications in remote regional sites in Australia.
Under the agreement, TNG would provide the high-purity vanadium electrolyte from its Mount Peake project required to operate the batteries.
Negotiations between the parties on a formal joint venture arrangement are “well advanced”, according to TNG.
Source: smallcaps
