Products

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 160,000tpa V₂O₅
• Vanadium used in energy storage sector
• Vanadium redox flow batteries

TNG Production and Offtake

• TNG’s production of an average of 6,000 tpa of V₂O₅
• Represent 3.8% of the world’s demand
• Very high purity V₂O₅
• Niche markets such as Vanadium Redox Flow Batteries
• Off-take Agreement with Woojin (Korea) for a minimum of 60% of TNG’s production
• Woojin is the second largest Ferro-Vanadium exporter in Asia

Vanadium Redox Flow Batteries – VRFB

The Future of Energy Storage

Advantages of VRFB compared to Li-Ion batteries

• 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