Thorion Energy enters into MOU with Viettel
Mr Bradley Appleyard, Chairman and CEO of Thorion Energy and Mr Nghia Nguyen, CEO of VMC.
Thorion Energy has entered into an MoU with Viettel Manufacturing Company (VMC), a wholly owned subsidiary of the Vietnamese government-owned Viettel Corporation.
The MoU was executed at the Australian Embassy in Hanoi on 15 August 2023, hosted by Mr Andrew Goledzinowski – the Australian Ambassador to Vietnam.
It was signed by Mr Bradley Appleyard, Chairman and CEO of Thorion Energy and Mr Nghia Nguyen, CEO of VMC.
Thorion Energy and VMC will work collaboratively to explore:
The opportunity to enter into a contracted relationship whereby VMC will manufacture, install, commission and support Thorion’s energy storage products – commencing with Thorion’s Vanadium Redox Flow battery products, in Vietnam.
Thorion will transfer technology and provide all technical know-how and engineering support required to enable VMC to enter into production.
The parties will also explore opportunities for VMC to produce specific key components of Thorion’s energy storage products for export overseas.
Should the programs of work identified in the MoU be completed to the satisfaction of both parties, Thorion and Viettel will enter into a Manufacturing and Sales Support Agreement and a Technology Transfer Agreement to formalise the relationship.
Thorion and VMC will work together to sell product in Vietnam.
Mr Appleyard noted:
“I am delighted to execute this MoU with the Viettel Manufacturing Corporation as we pursue our business model of local content development, identifying the most capable partners in all target markets. This relationship with VMC bodes extremely well for the rollout of Thorion products in Vietnam.”
