Vast and Mabanaft Secure AUD $40 Million Funding for CSP-powered Solar Methanol Plant SM1 to Help Decarbonise Shipping
“This is a giant leap for green fuel production globally,” said Craig Wood, CEO of Vast.
- “This is a giant leap for green fuel production globally,” said Craig Wood, CEO of Vast.
- “Solar methanol, produced at plants like SM1, has the potential to make a huge difference to the transport sector where it has proven difficult to decarbonise fuel sources.
- Vast and Mabanaft are assessing SM1 with the Solar Methanol Consortium and are supported by fellow Australian technology company Calix as Principal CO2 Supply Partner and the Australian Solar Thermal Research Institute (ASTRI).
- SM1 will be powered by Vast’s CSP v3.0 technology, which aims to generate zero-emission heat and electricity to produce green methanol.