TNG Ltd. signed a memorandum of understanding with Sumitomo Electric Industries and Carnegie Clean Energy unit Energy Made Clean to collaborate on the promotion, development and growth of Australia's vanadium redox flow battery, or VRF, market.

The agreement follows the initial production of high-purity vanadium electrolyte from TNG's flagship Mount Peake vanadium-titanium-iron project in Australia's Northern Territory.

As part of the MOU, the companies will jointly review the potential applications of VRF in the country, with a view to subsequently cooperating on marketing and sales.

In addition, the parties agreed to jointly establish a demonstration VRF of commercial size in Australia to showcase Sumitomo Electric's technology.

Meanwhile, TNG will also assess the feasibility and implementation of a vanadium electrolyte production facility either in Perth or Darwin, Australia, the company noted in a Dec. 13 release.