Vast Ready to Deliver First-of-its-Kind Clean Energy Solution with Final Prototyping Completed
Vast Renewables (VSTE) has successfully completed the final technical milestone with large-scale testing of its concentrated solar thermal power (CSP) receiver tower. The technology, designed and manufactured in Goodna, Queensland, is ready for deployment at the Port Augusta Green Energy Hub in South Australia.
The breakthrough marks Vast's readiness to deliver its next-generation clean energy solution, which will be implemented in the Vast Solar 1 (VS1) project - a 30MW utility-scale reference project with 8 hours of storage. The modular receiver tower design promises more efficient, lower-cost, and lower-risk dispatchable clean energy on demand.
The company recently secured access to up to $30 million from its existing $65 million ARENA grant to support manufacturing and project development. The VS1 project will supply energy to the national grid and partially power a renewable methanol production facility, with potential applications in shipping decarbonization.
Vast Renewables (VSTE) ha completato con successo il traguardo tecnico finale con test su larga scala della sua torre ricevente per energia solare termica concentrata (CSP). La tecnologia, progettata e realizzata a Goodna, Queensland, è pronta per essere implementata presso il Port Augusta Green Energy Hub in Australia Meridionale.
Questa innovazione segna la prontezza di Vast nel fornire la sua soluzione energetica pulita di nuova generazione, che sarà attuata nel progetto Vast Solar 1 (VS1) - un progetto di riferimento da 30MW con 8 ore di accumulo. Il design della torre ricevente modulare promette energia pulita su richiesta, più efficiente, a costi inferiori e con minori rischi.
L'azienda ha recentemente ottenuto accesso a un massimo di $30 milioni dal suo già esistente grant ARENA di $65 milioni per supportare la produzione e lo sviluppo del progetto. Il progetto VS1 fornirà energia alla rete nazionale e alimenterà parzialmente un impianto di produzione di metanolo rinnovabile, con potenziali applicazioni nella decarbonizzazione marittima.
Vast Renewables (VSTE) ha completado con éxito el último hito técnico con pruebas a gran escala de su torre receptora de energía solar térmica concentrada (CSP). La tecnología, diseñada y fabricada en Goodna, Queensland, está lista para su implementación en el Port Augusta Green Energy Hub en Australia del Sur.
Este avance marca la disposición de Vast para entregar su solución energética limpia de nueva generación, que se implementará en el proyecto Vast Solar 1 (VS1) - un proyecto de referencia a escala de utilidad de 30MW con 8 horas de almacenamiento. El diseño modular de la torre receptora promete energía limpia despachable a demanda, más eficiente, de menor costo y menor riesgo.
La empresa ha asegurado recientemente acceso a hasta $30 millones de su subvención ARENA existente de $65 millones para apoyar la fabricación y el desarrollo del proyecto. El proyecto VS1 suministrará energía a la red nacional y alimentará parcialmente una instalación de producción de metanol renovable, con aplicaciones potenciales en la descarbonización del transporte marítimo.
Vast Renewables (VSTE)는 집중 태양열 발전(CSP) 수신탑의 대규모 테스트를 통해 최종 기술 이정표를 성공적으로 완료했습니다. 이 기술은 퀸즐랜드의 굿나에서 설계 및 제작되었으며, 호주 남부의 포트 오거스타 그린 에너지 허브에서 배치할 준비가 되어 있습니다.
이번 혁신은 Vast가 차세대 청정 에너지 솔루션을 제공할 준비가 되었음을 나타내며, 이는 8시간의 저장 용량을 갖춘 30MW 유틸리티 스케일의 참조 프로젝트인 Vast Solar 1 (VS1) 프로젝트에 구현됩니다. 모듈형 수신탑 설계는 효율적이고 저비용이며 안정적인 요청 시 청정 에너지를 제공합니다.
회사는 최근 6500만 달러의 기존 ARENA 보조금에서 최대 3000만 달러에 대한 접근을 확보하여 제조 및 프로젝트 개발을 지원합니다. VS1 프로젝트는 국가 전력망에 에너지를 공급하고 신재생 메탄올 생산 시설의 부분적인 전력을 공급하여 해양 탈탄소화에 잠재적인 응용 가능성을 담고 있습니다.
Vast Renewables (VSTE) a récemment réussi à atteindre l'ultime étape technique avec des tests à grande échelle de sa tour réceptrice pour l'énergie solaire thermique concentrée (CSP). La technologie, conçue et fabriquée à Goodna, Queensland, est prête à être déployée au Port Augusta Green Energy Hub en Australie-Méridionale.
Cette avancée marque la préparation de Vast à fournir sa solution énergétique propre de nouvelle génération, qui sera mise en œuvre dans le projet Vast Solar 1 (VS1) - un projet de référence à échelle industrielle de 30 MW avec 8 heures de stockage. Le design de la tour réceptrice modulaire promet une énergie propre dispatchable à la demande, plus efficace, à moindre coût et à moindre risque.
La société a récemment obtenu un accès à hauteur de 30 millions de dollars sur sa subvention ARENA existante de 65 millions de dollars pour soutenir la fabrication et le développement du projet. Le projet VS1 fournira de l'énergie au réseau national et alimentera partiellement une installation de production de méthanol renouvelable, avec des applications potentielles dans la décarbonisation du transport maritime.
Vast Renewables (VSTE) hat erfolgreich den letzten technischen Meilenstein mit umfassenden Tests seines konzentrierten solarthermischen Kraft (CSP) Empfängerturms abgeschlossen. Die Technologie, die in Goodna, Queensland, entworfen und hergestellt wurde, ist bereit für den Einsatz im Port Augusta Green Energy Hub in Südaustralien.
Dieser Durchbruch markiert die Bereitschaft von Vast, seine Saubernergielösung der nächsten Generation anzubieten, die im Projekt Vast Solar 1 (VS1) umgesetzt wird - ein 30-MW-Referenzprojekt mit 8 Stunden Speicherung. Das modulare Empfängerturmdesign verspricht eine effizientere, kostengünstigere und risikoärmere bereitstellbare saubere Energie auf Abruf.
Das Unternehmen hat kürzlich den Zugang zu bis zu 30 Millionen Dollar aus seinem bestehenden ARENA-Zuschuss von 65 Millionen Dollar gesichert, um die Herstellung und Projektentwicklung zu unterstützen. Das VS1-Projekt wird Energie ins nationale Stromnetz einspeisen und teilweise eine Anlage zur Herstellung von erneuerbarem Methanol mit potenziellen Anwendungen in der Dekarbonisierung des Schiffsverkehrs betreiben.
- Successfully completed final technical milestone with CSP receiver tower testing
- Secured access to $30M from existing $65M ARENA grant
- Technology ready for deployment in 30MW utility-scale project with 8 hours storage
- Modular design enables rapid construction and straightforward commissioning
- None.
Insights
The successful validation of Vast's CSP receiver tower represents a pivotal technological breakthrough in the renewable energy sector. The system's 8-hour storage capability addresses a critical market gap in dispatchable clean energy, particularly during non-generating hours. The modular design architecture significantly reduces construction complexity and operational risks, while the minimized moving parts suggest lower maintenance costs and improved reliability metrics.
The company's positioning is strengthened by multiple revenue streams: grid power supply and green methanol production. The methanol facility is particularly strategic as the shipping industry increasingly adopts methanol for decarbonization. Major container vessels are already transitioning to methanol fuel, creating a robust demand pipeline.
The
The VS1 project's 30MW capacity serves as a critical reference installation, potentially catalyzing rapid commercial adoption. The Australian-made technology also positions Vast advantageously in the global race for renewable energy leadership, particularly in regions with high solar resources seeking energy independence.
The successful prototyping of Vast's CSP receiver tower showcases a manufacturing breakthrough in renewable infrastructure. The modular design architecture represents a significant advancement in CSP technology, enabling streamlined production processes and simplified installation procedures. This approach typically reduces manufacturing costs by
The domestic manufacturing strategy in Queensland positions Vast advantageously in the global supply chain, particularly given recent geopolitical emphasis on sovereign manufacturing capabilities. The simplified supply chain and repeatable production model suggest strong potential for rapid scaling, important for meeting accelerating clean energy demand.
The creation of highly skilled green manufacturing jobs in Australia aligns with national industrial policy objectives. The local production capability, combined with Australia's free trade agreements across the Indo-Pacific region, creates significant export opportunities. The technology's modular nature facilitates efficient shipping and deployment, expanding the addressable market beyond domestic borders.
- Vast successfully completes large-scale testing of its CSP receiver tower, marking the final technical milestone
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With all key components validated, Vast is now set to deploy its advanced clean energy solution at the Port Augusta Green Energy Hub in
South Australia , and at future projects -
Developed and manufactured in
Australia , Vast’s award-winning technology delivers highly efficient, cost-effective, and reliable clean energy on demand
GOODNA,
Vast's patented receiver tower at the company’s facility in
Designed and manufactured in Goodna,
Vast’s receiver tower design will deliver more efficient, lower cost and lower risk dispatchable clean energy on demand, outperforming any solution in market today. The receiver tower is modular and repeatable with a simple supply chain, which Vast believes will facilitate rapid construction on site and straightforward commissioning. The design also reduces energy losses and has limited moving parts to deliver reliable long-term performance.
As one of the sunniest countries in the world, CSP is an obvious choice in Australia’s energy transition. The technology’s long duration energy storage capability and dispatchable capacity should be a critical complement to intermittent solar PV and wind. Homes, industry and transport need access to green, reliable and affordable energy on demand when the sun isn’t shining and the wind isn’t blowing.
Vast is a leader in the global CSP industry, pioneering the next generation of technology that offers superior performance at lower cost and risk. Vast’s patented technology is designed and made in
Vast’s Port Augusta Green Energy Hub will showcase Vast’s CSP v3.0 technology, following the successful operation for nearly three years of a grid-connected demonstration project that received the International Energy Agency’s SolarPACES 2019 Technical Innovation Award.
Craig Wood, CEO of Vast, said: “This innovation in our receiver tower is driving even greater performance from our clean energy solution. By harnessing Australia’s abundant natural resources, our projects aim to spark the growth of a domestic CSP industry while creating export opportunities to deliver Australian green technology to clean energy projects worldwide. We’re proud of the breakthroughs we’ve achieved, and the immense potential our technology has to play a vital role in the world’s decarbonisation efforts.”
Vast’s award winning solution is set to be deployed at utility-scale at VS1 to deliver energy into the national grid, and to partly power a world-first co-located renewable methanol production facility. Methanol has the potential to decarbonise shipping and is already being used to power major container vessels.
Vast also has a global pipeline of projects that will help to decarbonise electricity generation and power the production of green methanol and sustainable aviation fuels.
Vast continues to receive significant backing from the Australian Government and major strategic investors including EDF and Nabors Industries. Today’s breakthrough comes after Vast announced in December it has signed an updated funding agreement to access up to
About Vast
Vast is a renewable energy company that has CSP systems to generate, store, and dispatch carbon-free, utility-scale electricity, industrial heat, or a combination to enable the production of sustainable fuels. Vast’s CSP v3.0 approach utilises a proprietary, modular sodium loop to efficiently capture and convert solar heat into these end products.
On December 19, 2023, Vast listed on the Nasdaq under the ticker symbol “VSTE”, while remaining headquartered in
Visit www.vast.energy for more information.
Forward Looking Statements
The information included herein and in any oral statements made in connection herewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the Port Augusta project, Vast's future financial performance, Vast's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "project," "should," "will," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Vast management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Vast disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Vast cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Vast. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Vast's ability to obtain financing on commercially acceptable terms or at all; Vast’s ability to manage growth; Vast's ability to execute its business plan, including the completion of the Port Augusta project , at all or in a timely manner and meet its projections; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vast, including in relation to Vast's recent business combination; the inability to recognize the anticipated benefits of Vast's business combination; costs related to that business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Vast's products and services. Additional risks are set forth in the section titled "Risk Factors" in the Annual Report on Form 20-F for the year ended June 30, 2024, dated September 9, 2024, as amended on November 7, 2024, and other documents filed, or to be filed with the SEC by Vast. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Vast's expectations can be found in Vast's periodic filings with the SEC. Vast's SEC filings are available publicly on the SEC's website at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250211995272/en/
For Investors:
Caldwell Bailey
ICR, Inc.
VastIR@icrinc.com
For US media:
Matt
ICR, Inc.
VastPR@icrinc.com
For Australian media:
Nick Albrow
WilkinsonButler
nick@wilkinsonbutler.com
Source: Vast Renewables Limited
FAQ
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