Manufacturer Australian resource and mineral processing technology company TNG Limited has inked an agreement with Singaporean-based company V-Flow Tech for the establishment of a joint venture to commercialise Vanadium Redox Flow Battery (VRFB) systems in regional Australia.
V-Flow is a battery technology development company that specialises in the design, manufacture and installation of innovative VRFB systems.
Under the proposed joint venture, the parties will collaborate on the development and delivery of new energy power systems underpinned by VRFBs, with V-Flow to supply the battery systems, and TNG to supply the high-purity vanadium electrolyte required to operate the batteries.
TNG’s Managing Director & CEO, Mr Paul Burton, said the agreement will see the two parties incorporate a new company to jointly develop and roll-out a VRFB business targeting initial applications at remote regional sites in Australia with a fully integrated renewable energy supply and VRFB storage solution.
“We are very pleased to execute the Heads of Agreement with V-Flow Tech and to establish an exciting joint venture arrangement as we position our business to enter the green energy market in Australia in parallel with development of our Mount Peake Project,” Mr Burton said.
“V-Flow Tech have demonstrated expertise in Vanadium Redox Flow Batteries and renewable power systems, and offer an innovative and high-quality product.
“Combined with our own ability to produce a high-purity vanadium electrolyte, the joint venture is expected to be uniquely positioned to provide a fully integrated green energy generation and storage solution.
“We firmly believe that VRFBs will play an integral role in the green energy revolution, and look forward to being at the forefront of this emerging industry in Australia.”