Former Fortescue Future Industries executive Guy Debelle poached by Tivan

Critical minerals start-up Tivan has appointed a former deputy reserve bank governor to its board. Read what makes the move so significant.

Territory critical minerals start-up Tivan has recruited senior Fortescue Future Industries executive and former Reserve Bank deputy governor Guy Debelle to its board.

An experienced policy maker with a 25-year career at the central bank, including more than five years as deputy governor, Dr Debelle quit Fortescue four weeks ago to take up the appointment with Darwin-based Tivan.

The vanadium mining and manufacturing hopeful is assembling a team of experts to plan development of a pilot vanadium processing facility at the Middle Arm Sustainable Development Precinct and then upsizing to a full-scale processing plant.

Guy Debelle, former deputy Reserve Bank governor, has been appointed to the board of NT company Tivan.

Dr Debelle brings a range of top-level experience to Tivan including experience on the International Monetary Fund, the Australian Treasury and the council of financial regulators working group on climate finance.

Dr Debelle delivers national and international heft to Tivan, which is one of the five selected initial proponents to develop downstreaming projects at Middle Arm.

He praised Tivan’s plans to drive Australia’s green transition.

“I am excited to join Tivan who are focused on realising the great opportunity Australia has in the green transition, particularly in the critical minerals space,” he said.

“I am looking forward to working with the team to further enhance Tivan’s inclusive and sustainable approach to developing its resources to benefit the community and deliver value for its shareholders.”

Tivan (formerly TNG) executive chairman Grant Wilson at the start-up’s extraordinary general meeting in Melbourne in January.

Mr Wilson, a former hedge-fund manager and columnist with the Financial Review, wants to fast-track development of redox flow battery technology at Middle Arm and is recruiting key personnel to the Tivan board to drive the innovation.

A champion of renewable energy and opponent of fossil fuels, Mr Wilson formed Tivan after taking over TNG last year. The Perth-based company had tried unsuccessfully for more than a decade to develop a vanadium resource at Mt Peake, about 300km northwest of Alice Springs.

Fortescue executive chairman Andrew Forrest. Picture: NCA NewsWire/Sharon Smith

Mr Wilson rebranded the company Tivan and shortly after announced it had purchased the Speewah vanadium site near Wyndham in WA from King River Resources, which will provide the primary source material to manufacture vanadium redox flow batteries at Middle Arm.

Mr Wilson has appointed Maria Skyllas-Kazacos, who invented and patented vanadium redox flow battery technology at the University of NSW, to Tivan’s technical advisory group.

“On behalf of members of the Tivan Board I am delighted to welcome Guy to Tivan,” Mr Wilson said. “This is about talented people coming together, shoulder on the wheel, to advance durable pathways for Australia to navigate the energy transition.”

“Guy is highly regarded in policy circles and across global financial markets. His work ethic, intellect, networks and solution-driven ethos will further invigorate Tivan, and bolster our emergence as a strategic leader in the critical minerals sector.”

An ASX-listed company, Tivan’s market capitalisation is $89.5m with today’s listed share price at 57 cents.

Dr Debelle’s resignation is the third high-profile exit from Fortescue in recent days with chief financial officer Christine Morris and chief executive Fiona Hick also signalling their departures from the company in the past week.