Strategic metals company TNG Ltd (ASX: TNG) has launched a new vanadium redox flow battery (VRFB) business unit as part of the vertical integration strategy for its flagship Mount Peake vanadium-titanium-iron project in the Northern Territory.
The strategy further diversifies the company’s green energy interests and will capitalize on the planned production of high-purity vanadium pentoxide from Mount Peake, where pre-development planning is advanced.
VRFBs use high-purity vanadium electrolyte to store energy and support renewable power generation from sources including solar and wind. TNG has previously produced this from vanadium pentoxide produced in pilot-scale test work.
TNG’s aim is to produce its own vanadium electrolyte and become a commercial supplier of VRFBs, targeting greenhouse emission reductions and providing an economic alternative to conventional power generation for standalone off-grid power systems.
Complements other recent green initiatives
The unit, which will be owned by the company’s green energy-focused subsidiary TNG Energy, complements other recently announced initiatives including its strategic partnership with Germany’s SMS Group to develop a carbon-neutral technology for green hydrogen production.
TNG managing director and chief executive officer Paul Burton said the launch of the VRFB business marks another step towards establishing TNG as a sustainable resources and mineral processing technology company.
“The VRFB market represents an exciting opportunity for the company to further expand into the green energy sector and diversify the Mount Peake product portfolio with the future production of high-purity vanadium electrolyte,” he said.
TNG said the ability to produce high-purity vanadium electrolyte – a key requirement for the operation of VRFBs – would provide the company with a competitive advantage, and is consistent with its overarching strategy of fully integrating its vanadium supply chain from the mine site to final products for sale globally.
According to the company, VRFBs offer many advantages for sustainable large-scale energy storage, including long lifespans of potentially 20-plus years without performance degradation, the ability to discharge without battery damage, the non-flammability of the vanadium electrolyte, and the ability to recover and re-use the vanadium electrolyte at the end of the battery life.
TNG said suitably sized VRFBs can replace diesel power generation at remote sites such as indigenous communities as well as applications for mine sites, pastoral stations, and roadhouses across Australia.
“Given that we are now at a very advanced stage of pre-development planning for Mount Peake, the timing is right to advance our VRFB strategy in order to capitalize on the growing momentum for alternative energy solutions that can reduce greenhouse emissions,” Mr. Burton said.
Today’s news follows last month’s announcements that Aboriginal Areas Protection Authority approval was received for the planned Mount Peake mine site, and global commodity trader Gunvor Singapore signed a binding deal to offtake 40% of the project’s proposed 6,000 tonnes of annual vanadium pentoxide production.