Australian resource and mineral processing technology company TNG Limited (ASX: TNG) (“TNG” or the “Company”) is pleased to announce that it has taken another important step forward in its green energy strategy after engaging a leading Perth-based mineral process engineering group to undertake a technology and process design study for the development of a vanadium electrolyte (“VE”) production facility (“VE Study”).
METS Engineering (“METS”), which co-developed the Company’s proprietary TIVAN downstream processing solution with TNG, has been engaged to commence the study on behalf of TNG’s newly-established vanadium redox flow battery (“VRFB”) business.
TNG produced high specification commercial grade VE in 2016 (see ASX Announcement of 10 October 2016). The VRFB business was established as a result and forms part of a vertical integration strategy to capitalise on TNG’s plans to produce its own vanadium product from the 100%-owned Mount Peake Vanadium-Titanium-Iron Project (“Mount Peake Project” or “Project”) in the Northern Territory, and on growing global demand for green energy solutions to drive decarbonisation.
The Company is targeting production of 6,000 tonnes per annum of high-purity vanadium pentoxide from the Mount Peake Project, in addition to titanium dioxide pigment and iron ore fines products.
The VE Study being undertaken by METS will deliver Australian preliminary process design documentation for the VE facility, which will include process flow diagrams, process design criteria, mass balance, product specifications, mechanical equipment lists, capital and operating costs estimates, and supporting infrastructure requirements.
The Australian process design will be driven by a comprehensive technology study that will evaluate available technologies, optimisation opportunities and previous work completed by TNG in producing high-purity VE in order to determine the most appropriate processing route.
A metallurgical testwork program will also be developed and implemented to help validate the process design and VE production specifications.
METS is an independent specialist consulting group that provides a comprehensive range of mineral processing, hydrometallurgy, pyrometallurgy and engineering design services to Australian and overseas clients. METS has consulted to TNG on the Mount Peake Project and played a key role in the development of the TIVAN Process.
VRFBs use VE to store energy from renewable power generation and are highly scalable for use in a variety of settings. Reliable supply of high-purity VE is critical to the continued growth of the global VRFB market.
VRFBs offer a number of distinct advantages for sustainable large-scale energy storage, having long lifespans of potentially 20-plus years without performance degradation, the ability to discharge without battery damage, the non-flammability of the VE and the ability to recover and re-use the VE at the end of the battery life.
The VE Study is expected to take up to three months to complete and will support a decision to move into the design and planning phase – which will include the evaluation of potential sites for the facility, engineering works, validation of cost estimates, financial modelling, progression of necessary Government permitting and approvals (where required), and development of the project execution model.
TNG is also developing the funding strategy for its VE facility, which includes evaluation of available green energy Government funding and grant opportunities.
The planned development of a VE production facility forms part of TNG’s green energy strategy, which is focused on opportunities in battery storage and green hydrogen production technology.
The facility will underpin TNG’s VRFB business unit, directly supporting its collaboration with Singaporean-based battery technology development company V-Flow Tech and the collaboration for both VRFB and green hydrogen opportunities with Malaysian-based green hydrogen technology company AGV Energy & Technology.
