Ann: TNG Signs Heads of Agreement with VRFB Producer, page-2

Under the HoA, the parties intend to establish a formal joint venture arrangement through incorporation of a
new company to jointly develop and roll-out a VRFB business targeting initial applications at remote regional
sites in Australia with a fully integrated renewable energy supply and VRFB storage solution.
It is intended that V-Flow will supply the renewable energy systems and vanadium redox flow batteries, and
TNG the high-purity vanadium electrolyte required to operate the batteries. The joint venture will also consider
other applications for VRFB systems including commercial and residential settings.
The parties are now progressing negotiation of a formal joint venture agreement and other supporting
commercial agreements for the strategic corporate, commercial and operational structure of the new business
venture.

Sounds like progress is being made, but still nothing until the agreement is executed.

Also found this about the company;

VFT is a spin-off of the CleanTech lab of Nanyang Technological University (NTU), Singapore, and benefits from unique IP arising from many years of intensive research at NTU.