TNG signs agreement with Ultra Power Systems to explore domestic opportunities for vanadium redox flow batteries
TNG managing director Paul Burton says Ultra shares the company’s vision in leading the growth of Australia’s emerging vanadium energy market.
Resource and technology company TNG (ASX: TNG) has signed an agreement with Perth-based energy technology specialist Ultra Power Systems to jointly explore opportunities for vanadium electrolyte production and vanadium redox flow batteries (VRFB) in Australia.
The partners will work together on the identification, development and deployment of a combined renewable power generation and VRFB storage system for the domestic market.
Their work will include the production of Ultra’s high-performing mixed-acid vanadium electrolyte.
Green energy strategy
The agreement supports TNG’s green energy strategy and carbon emissions reduction plan which is focused on the commercialisation of renewable energy opportunities.
It includes the potential application of VRFBs at its flagship Mount Peake vanadium-titanium-iron project in the Northern Territory.
TNG managing director Paul Burton said the collaboration would offer many synergies in vanadium electrolyte and battery development.
“Ultra shares our vision of playing a lead role in growing the emerging vanadium energy market in Australia … making this a very progressive agreement with huge potential,” he said.
Vanadium pentoxide production
TNG plans to generate high-purity vanadium pentoxide from Mount Peake, which is the key component in the production of vanadium electrolyte used in VRFBs.
The company has already produced vanadium electrolyte from the project’s concentrate during pilot plant testwork.
Ultra has developed its own VRFB system (known as the Ultra V40 battery module) and a standalone power station which integrates solar and wind turbines to produce mobile and scalable power suitable for off-grid applications.
The battery is powered by a mixed-acid vanadium electrolyte reported to provide a 70% higher energy density and a higher temperature capability than mainstream vanadium electrolytes.
VRFB demand
The development and demand for VRFBs has increased significantly in recent years and is predicted to grow strongly beyond 2050 as a result of the global transition away from fossil fuels to renewable energy.
“ will require immense growth in energy storage (of which batteries are a critical component) and the decentralisation of energy production and management,” Mr Burton said.
“The resultant infrastructure spending in the renewable energy sector will positively impact demand for critical mineral projects producing high-quality vanadium pentoxide.”
He said the collaboration with Ultra supports TNG’s plans to establish a vertically-integrated vanadium energy business including the supply of vanadium electrolyte and installation of batteries across a range of industries and remote locations.