TNG Limited, an Australian resource and mineral processing technology business, has entered into a Project Development Agreement with Malaysia-based AGV Energy & Technology (AGV Energy) to develop green hydrogen projects in Australia utilizing the HySustain production technology.
AGV Energy created HySustain in collaboration with worldwide development partners to produce green hydrogen and oxygen using demineralized water and 100% renewable energy. The technology is advanced, as demonstrated by the findings of an operational and commercial feasibility study conducted in Europe.
The Agreement represents another significant strategic step forward in the implementation of TNG’s green energy strategy, with TNG and AGV Energy intending to jointly scope, evaluate, plan, and execute HySustain project opportunities in Australia through an incorporated joint venture company based on an agreed development framework.
The joint venture’s ultimate goal is to create additional HySustain manufacturing facilities throughout Australia in order to diversify production and service green hydrogen demand and expanding regional hydrogen markets, with a particular emphasis on Australia, Japan, and South Korea. AGV Energy has progressed negotiations with potential hydrogen off-takers in the region, including groups that have expressed preliminary interest in Australian green hydrogen off-take.
Australia is well-positioned to lead the developing global shift to hydrogen, with abundant potential for cost-competitive renewable energy, strong current trade ties to important Asian energy markets, and an exceptional track record of large-scale energy production and industrialisation.