Vast Renewables Limited Ordinary Shares - VSTE STOCK NEWS

Vast Renewables has secured access to $30 million from its existing $65 million ARENA grant to support green technology manufacturing and project development. The funding will advance their concentrated solar thermal power (CSP) solution, particularly for the Vast Solar 1 (VS1) project - a 30MW power plant with 8-hour storage in Port Augusta, South Australia. The project, estimated to cost AUD360-390 million, will generate clean electricity for the National Electricity Market and power a co-located green methanol production facility. Construction is expected to begin in Q2 2025, with final investment decision scheduled for early 2025.

Vast Renewables (Nasdaq: VSTE) has signed a development services agreement with GGS Energy to develop Project Bravo, a commercial-scale synthetic fuels project in the Southwest United States. The project will utilize Vast's CSP v3.0 technology to generate carbon-free heat and electricity for producing green methanol and sustainable aviation fuel (e-SAF). The development targets 550MWh of CSP generation, with potential to reduce green fuel production costs by up to 40%. This project follows Vast's Solar Methanol 1 (SM1) reference plant in Australia, which will produce 7,500 tonnes of green methanol annually using a 30 MW / 288 MWh CSP plant.

Vast Renewables (Nasdaq: VSTE) and Mabanaft have awarded contracts to Fichtner and bse Methanol for pre-front-end engineering and design (FEED) work on their SM1 green methanol plant. The project, part of the Port Augusta Green Energy Hub in South Australia, will produce 7,500 tonnes of green methanol annually, powered by Vast's 30 MW / 240 MWh concentrated solar thermal power (CSP) plant.

Key aspects of the project include:

• Integration of Leilac calcination plant, bse Methanol's FlexMethanol® modules, and an electrolysis plant
• Funding agreements of up to AUD $19.48 million from ARENA and up to EUR 12.4 million from PtJ
• Appointment of Dr. Amy Philbrook from Arup as Project Manager

The project aims to demonstrate the potential of using CSP in green fuels production, which could reduce costs by up to 40 percent.

Vast Renewables (Nasdaq: VSTE) and Mabanaft have signed a Joint Development Agreement (JDA) to advance the Solar Methanol 1 (SM1) project, a concentrated solar thermal power (CSP) plant for green methanol production in Port Augusta, South Australia. This plant aims to produce 7,500 tonnes of green methanol annually. The initiative is supported by funding agreements signed in February, worth up to AUD $40 million, including AUD $19.48 million from the Australian Renewable Energy Agency and €12.4 million from the German government. The JDA includes offtake rights for Mabanaft and aims to reduce green fuel production costs by up to 40%. The project is part of the broader HyGATE collaboration to support the hydrogen supply chain and aims to decarbonize industries like shipping and aviation.

Vast Renewables has received planning consent for its Solar Methanol 1 (SM1) project in Port Augusta, South Australia. The plant will produce up to 7,500 tonnes of green methanol annually using CSP technology, aiming to decarbonize the maritime industry. The project, co-developed with Mabanaft, integrates proven technologies including a Leilac calcination plant, an electrolysis plant, and a methanol plant. Supported by a 30 MW CSP plant, SM1 has secured funding of AUD $19.48 million from ARENA and EUR 12.4 million from Germany's PtJ. The project aligns with both Australian and German government initiatives to advance green hydrogen production.

Vast Renewables (Nasdaq: VSTE) has executed key engineering contracts with Afry, FYFE, Primero, and Worley to complete Front-End Engineering Design (FEED) on its VS1 project, a 30MW / 288 MWh concentrated solar thermal power plant in Port Augusta, South Australia. The project, utilizing Vast's proprietary modular tower CSP v3.0 technology, aims to generate clean, low-cost, dispatchable power with over 8 hours of thermal energy storage. Vast's CSP v3.0 technology has received significant support from the Australian Government, including up to AUD$65 million in funding from the Australian Renewable Energy Agency (ARENA) for the construction of VS1. Additionally, Vast has secured funding agreements totaling AUD$19.48 million and EUR13.2 million from collaborations between the Australian and German governments for its Solar Methanol 1 (SM1) plant, which will produce green methanol for sustainable shipping fuel using electricity and heat from VS1.

Vast Renewables and 1414 Degrees 's joint venture SiliconAurora Pty signed a term sheet with Vast Solar 1 Pty and OZ Minerals Services Pty to potentially facilitate access to the Hill-to-Hill Transmission Line for the Aurora Energy Precinct in South Australia. The Precinct aims to develop a battery energy storage system and a concentrated solar thermal power plant, with grant funding from ARENA and collaboration with Mabanaft for a green methanol demonstration plant.

Vast Renewables announces operational and financial results for the first half of fiscal 2024, highlighting funding commitments, operational events, key hires, and financial metrics. The company secured investments from EDF Australia and Canberra Airport Group, along with funding agreements from the Australian and German governments. Vast reported total revenue of $768,000, available cash of $16.5 million, and a net loss of ($281.5) million for the six months ending December 31, 2023.

Vast Renewables Limited (Nasdaq: VSTE) received a notice from Nasdaq regarding non-compliance with the Market Value of Publicly Held Shares Standard. The company has 180 days to regain compliance or face potential delisting.