Australian resource and mineral processing technology company TNG Limited (ASX: TNG) has appointed renewable energy specialists Generators and Off-Grid Energy and juwi Renewable Energy to assist with the progression of its vanadium redox flow battery (VRFB) business unit.
The deal will be run through TNG’s green energy-focused, wholly-owned subsidiary TNG Energy Pty Ltd.
It will see the two companies offer expert advice to TNG for a VRFB study being progressed in parallel with the completion of design, engineering and pre-development planning work for TNG’s flagship Mount Peake vanadium-titanium-iron project in the Northern Territory.
Generators and Off-Grid Energy is a WA-based company focused on the feasibility assessment, design, construction, commissioning and maintenance of solar and battery systems, and other renewable energy projects.
Queensland-based juwi Renewable Energy is an Australian subsidiary of Germany’s juwi Group, which specialises in the development and engineering, procurement and construction of large-scale renewable energy projects including solar and wind.
Development strategy
TNG managing director Paul Burton said the appointments will help advance the development of Mount Peake and define the development strategy for the VRFB business, including the operational model, implementation plan, equipment requirements and funding structure.
“We are pleased to have two highly-experienced groups on board to help drive this exciting project to the next level and create a significant new growth platform in the green energy space for our shareholders,” he said.
“The development of our VRFB business is part of a strategy to diversify the Mount Peake product portfolio and capitalise on a growing momentum globally for alternative energy solutions.”
Vertical integration
The VRFB unit was established this month as part of a vertical integration strategy for TNG’s flagship Mount Peake vanadium-titanium-iron project and expands its footprint into the rapidly-growing green energy sector.
TNG aims to produce its own vanadium electrolyte and become a commercial supplier of VRFBs targeting greenhouse emission reductions, providing an economic alternative to conventional power generation for standalone off-grid power systems.
The company has previously confirmed that suitably-sized VRFBs could replace diesel power generation at remote locations across Australia (such as indigenous communities, mine sites, pastoral stations and roadhouses), providing an economically-viable alternative while assisting with carbon emission reduction and promoting green energy.
VRFB study
TNG is progressing a VRFB study which will confirm the commercial, marketing and technical requirements for its business unit.
The study will build on prior work completed under the company’s VRFB strategy, including the production of high-purity vanadium electrolyte using vanadium pentoxide from Mount Peake during pilot plant testwork in 2016 with SMS Group.
Renewable power
VRFBs use vanadium electrolyte to store energy in support of the wider application of renewable power generation, such as from wind and solar, and are highly scalable for use in a variety of settings.
The batteries offer a number of advantages for sustainable large-scale energy storage, including long lifespans of more than 20 years without performance degradation, the ability to discharge without battery damage, and the ability to recover and re-use vanadium electrolyte at the end of a battery’s life.
www.smallcaps.com.au
