The collaboration is part of TNG’s program to reduce net carbon emissions, including future emissions from the flagship Mount Peake Project, given the strong focus from environmental regulators on undertaking proactive measures to reduce carbon emissions globally and for companies to embrace world-leading ESG standards and practices.
TNG Limited (ASX:TNG) (OTCMKTS:TNGZF) has taken another key step to progress its green energy strategy after reaching agreement with an international technology company and specialist in the green hydrogen sector to develop commercial opportunities using vanadium redox flow batteries (VRFB).
The company has executed a Heads of Agreement with Malaysian-based AGV Energy & Technology Sdn Bhd to progress formal arrangements for collaboration on opportunities for the commercialisation of VRFB and technologies to produce green hydrogen.
AGV Energy and its partners are developing technology to produce green hydrogen and oxygen using the electrolysis of demineralised water and renewable energy (HySustain).
The HySustain technology is well advanced, based on the results from a test plant in Europe to validate its operational and commercial feasibility.
AGV Energy is also well advanced in discussions with potential hydrogen off-take partners in the Asia-Pacific region and is planning a phased rollout of the scalable HySustain technology, with the first commercial application planned at an advanced project in Malaysia (Malaysian Green Hydrogen Project).
“Step to reduce net carbon emissions”
TNG managing director and CEO Paul Burton said: “We are very pleased to have secured this Heads of Agreement with AGV Energy, opening up an exciting pathway to collaborate with them on the development of their exciting green hydrogen HySustain technology.
“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.
“Our collaboration with AGV Energy is an important further strategic step in our ongoing program to reduce our company’s net carbon emissions, including future emissions from our flagship Mount Peake Project, given the strong focus from environmental regulators on undertaking proactive measures to reduce carbon emissions globally and for companies to embrace world-leading ESG standards and practices.”
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