TNG Energy is a 100%-owned subsidiary of TNG Limited with a focus on green energy and it has been established as part of the vertical integration strategy for the Company’s flagship Mount Peake Vanadium-Titanium-Iron Project.
In line with worldwide efforts to reach net-zero greenhouse gas emissions targets, TNG is committed to develop its operations in a carbon-efficient way in order to adequately mitigate climate related risks.
The Company has strategies in place to both enter the alternative energy market and to offset any potential carbon emissions from its future operations through the establishment of partnerships with international technology groups with expertise in the development and application of green hydrogen technology and Vanadium Redox Flow Batteries (VRFBs).
Green Hydrogen Production Technology
- TNG executed a Heads of Agreement with Malaysian-based green energy company, AGV Energy & Technology, to collaborate on the proposed integration of VRFB with AGV Energy’s green hydrogen production technology.
- AGV Energy and its partners are developing a technology to produce green hydrogen using the electrolysis of demineralised water and renewable energy (“HySustain”), with the first commercial application planned at a project in Malaysia.
- AGV Energy is planning to use VRFB as its preferred energy storage system for HySustain, at the Malaysian Green Hydrogen Project.
- Under the agreement, TNG and AGV Energy will also explore opportunities for formal collaboration for the commercialisation of HySustain in Australia and other opportunities for the application of VRFB in Malaysia.
Vanadium Redox Flow Batteries – VRFB
- TNG has established a VRFB business unit as part of the vertical integration strategy for the Mount Peake Project, targeting initial applications at remote regional sites in Australia with a fully integrated renewable energy supply and VRFB storage solution.
- VRFBs utilise high-purity vanadium electrolyte to store energy and support renewable power generation from sources including solar and wind.
- A Heads of Agreement has been signed with Singaporean-based company V-Flow Tech for establishment of a joint venture to commercialise 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.
Further details can be found on the ASX Announcements page.