TNG moves in rarefied group MiningNews.Net 02 Nov 2016 18:17...

TNG moves in rarefied group

• MiningNews.Net
• 02 Nov 2016
• 18:17

http://www.miningnews.net/resource-stocks/company-profiles/tng-moves-in-rarefied-group/

Energy Minerals Investor Hub: You announced in September the production of a commercial vanadium electrolyte product in Austria. Firstly, to put that in context, how many/which other developing projects passed that test? How do you see TNG/Mount Peake positioned, relative to emerging/current competitors?
Paul Burton: To my knowledge, TNG is the only developing project to produce a commercial vanadium electrolyte. That positions us extremely well to address the fast growing VRB industry. We believe that Australia is an ideal market for the VRB applications that are focused on large-scale energy storage projects.
Energy Minerals Investor Hub: You’ve also mentioned the vanadium redox battery (VRB) market currently consuming about 4,000tpa of vanadium. You’re looking to produce 17,560tpa of V2O5. So how much of that VRB segment are you looking to address?
Paul Burton: The majority (60% minimum) of our V2O5 is committed to Woojin under our life-of-mine offtake agreement. The VRB market is still small but growing fast – high double-digit numbers – and of high value. By the time the Mount Peake project comes on stream we expect that VRB customers could represent 10-20% of our V2O5 sales volume.
Energy Minerals Investor Hub: What is driving the double-digit growth in VRB vanadium demand/where is it being driven from?
Paul Burton: VRBs are addressing a key demand in the larger communities and industrial energy storage market. They are currently being deployed on all continents and in a very broad array of applications.