The Lawler Labor Government is getting the Territory working through the Middle Arm Sustainable Development Precinct, a precinct set to transform the NT’s Energy market and economy.

The cornerstone project just took another step forwards, with one of its key proponents signing an agreement with a Fortune Global 500 company.

Tivan, whose headquarters are in Darwin, have formed a strategic alliance with Japanese giant Sumitomo Corporation to drive the development and financing on Tivan’s Speewah Project.

The Speewah project, located in East Kimberley region, is planned to produce vanadium oxides to supply the Middle Arm Development Precinct – creating a local supply chain for Vanadium Redox Flow Batteries (VRFB). VRFB are an optimal long duration energy storage solution, with a lifespan of over 20 years, suitable for large-scale integration with the Territory’s world class solar and gas resources.

This landmark agreement follows a big week in the Territory resources sector, including Top End Energy being granted a petroleum exploration permit in the McArthur Basin and Tamboran Resources expanding their development in the Beetloo Sub-Basin by 15 new wells.

Gas extracted from the Beetaloo Sub-Basin has the potential to support 13,000 jobs by 2040 and increase the Northern Territory’s economic activity by $17 billion.

At the same time, The Middle Arm Sustainable Development Precinct will boost our economy with 20,000 jobs for Territorians – providing work opportunities in Darwin and right up and down the Stuart Highway.