TNG joins Sumitomo in battery MoU

VANADIUM developer TNG will work with Japan’s Sumitomo Electric Industries (SEI) and Carnegie Wave Energy subsidiary Energy Made Clean (EMC) to develop a market for the vanadium redox flow (VRF) battery in Australia.
TNG joins Sumitomo in battery MoU TNG joins Sumitomo in battery MoU TNG joins Sumitomo in battery MoU TNG joins Sumitomo in battery MoU TNG joins Sumitomo in battery MoU

TNG Mount Peake iron-vanadium-titanium project

Andrew Hobbs

The company will supply vanadium electrolyte while working with SEI and EMC to develop potential applications for the battery in Australia - with SEI providing VRF containerised systems and EMC supplying the balance of plant.

In addition to jointly building a demonstration VRF of commercial size, the companies aim to work together future marketing and sales of the product.

The rechargeable batteries have been used to replace diesel generators and can be used on military applications, as they can retain a ready state even when being stored for long periods of time with little maintenance.

TNG announced in October that it had successfully produced a high purity, commercial grade vanadium electrolyte using vanadium pentoxide produced from its wholly owned Mount Peake project in the Northern Territory. 

The company will also assess the feasibility and implementation process of a vanadium electrolyte production facility that might be built in either Perth or Darwin.

TNG signed a binding life-of-mine offtake agreement with Korean company Woojin Metals in 2015 for 60% of the vanadium pentoxide produced at the Mount Peake mine, leaving it with the remaining 40% output for future vanadium electrolyte supply.

TNG managing director Paul Burton said the deal gave the company a chance to be a key supplier of a vital raw material for the sector.

"By joining forces with two established market participants we can help to open up and drive the growth of the alternative energy market in Australia," he said.

"This is in line with TNG's strategy for full vertical integration of our vanadium supply chain and effectively means that we can be a key player in every vanadium market worldwide."

It is not the first time TNG and EMC have worked together, with the groups signing a MoU in 2015 to establish the feasibility of vanadium redox batteries.

Shares in TNG were up 3.7% or A0.5c to 14c in afternoon trade.