TNG Limited
Vanadium Pentoxide – V2O5
Overview
- Mined in China, Russia, South Africa and Brazil
- Over 90% is used in the steel industry
- Strengthening agent, high tensile steel
- Recent regulations in China – surge in demand
- Global demand is estimated to be 190,000tpa V2O5
- Vanadium used in energy storage sector
- Vanadium redox flow batteries
TNG Production and Off-take
- Expected TNG’s production of an average of 6,000 tpa of V2O5
- Represent 3.2% of the world’s demand
- Very high purity V2O5
- Niche markets such as Vanadium Redox Flow Batteries
- Life-of-Mine Off-take Agreement with Woojin (Korea) for a minimum of 60% of TNG’s estimated production
- Life-of-Mine Off-take Agreement with Gunvor (Singapore) for the remaining 40% of TNG’s estimated production
Vanadium Redox Flow Batteries – VRFB
The Future of Energy Storage
Advantages of VRFB
- Better for large scale storage and for long-duration applications (>6 h)
- More cost effective
- Longer life cycle – 20 yrs vs 5-8 yrs (LIB)
- Lower degradation
- Simpler maintenance, safer
Substantial Storage Market
Dominated by V-Flow and Li-Ion
US$50-100 Billion by 2025*
TNG has successfully produced high purity, commercial-grade, Vanadium Electrolyte
