Australian resources company TNG Ltd (ASX:TNG) said on Friday it will work with Malaysia-based AGV Energy and Technology Sdn Bhd to develop green hydrogen projects in Australia using the HySustain technology.
HySustain has been developed by AGV Energy and its global development partners for the production of green hydrogen and oxygen through electrolysis of demineralised water and renewable energy.
TNG and AGV Energy have signed a project development agreement and plan to scope, assess and execute HySustain project opportunities in Australia via a joint venture company. An initial project opportunity has been identified in Northern Australia. The ultimate aim is the development of multiple HySustain production plants across Australia to serve regional markets with a focus on Australia, Japan and South Korea.
The step comes after the two companies signed a heads of agreement in June to partner on a proposed integration of vanadium redox flow batteries with AGV Energy’s green hydrogen technology.
AGV Energy is part of AGV Consulting Group.
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