ARENA

Vast announces Term Sheet to facilitate transmission access for Aurora Energy Precinct

Retrieved on: 
Monday, April 8, 2024
Electricity, ElectraNet, EUR, Term sheet, VS1, SM1, Hill, BHP, ARENA, Aurora Energy, H2H, OZM, Precinct, CSP, BESS, Renewable energy

The Precinct is owned by SiliconAurora, which plans to develop a 140MW (2 hour) battery energy storage system (BESS) on the site.

Key Points: 
  • The Precinct is owned by SiliconAurora, which plans to develop a 140MW (2 hour) battery energy storage system (BESS) on the site.
  • Additionally, Vast plans to develop Vast Solar 1 (VS1), a 30MW concentrated solar thermal power (CSP) plant with 288 MWh of thermal storage, on the Precinct site.
  • VS1 was awarded up to AUD $65 million in conditional grant funding by the Australian Renewable Energy Agency (ARENA).
  • Connection to the H2H will be subject to further negotiations and agreement with OZM and ElectraNet as contemplated under the Term Sheet.

Vast Renewables Limited Announces Operational and Financial Results for First Half of Fiscal 2024

Retrieved on: 
Thursday, March 28, 2024
Hydrogen, Smith International, FEED, Bank of Montreal, Electricity, Financial management, General Electric, Solar, VS1, SM1, Électricité de France, CFO, Partnership, CSIRO, Oil Search, ARENA, California Resources Corporation, Aviation, Carbon, Eye, Investment, Convertible, Research and development, Occidental Petroleum, BMO Capital Markets, CSP, Business, Calendar, Government, Engineering, Renewable energy

SYDNEY, Australia, March 28, 2024 (GLOBE NEWSWIRE) -- Vast Renewables Limited (“Vast” or the “Company”) (Nasdaq: VSTE), a renewable energy company specializing in concentrated solar thermal power (“CSP”) energy systems that generate zero-carbon, utility-scale electricity and industrial process heat today announced operational and financial results for the first half of the Company’s fiscal 2024, comprising the six months ended December 31, 2023.

Key Points: 
  • During the first half of fiscal year 2024, Vast announced several funding commitments from strategic partners.
  • “The support Vast has received from our strategic partners has been very meaningful to the progress of our company, both from a financial as well as operational standpoint,” said Craig Wood, CEO of Vast.
  • During the first half of fiscal year 2024, Vast continued to make progress on its first utility-scale project for power generation, known as VS1, located in Port Augusta in South Australia.
  • As of December 31, 2023, Vast had total diluted common shares outstanding of 29,291,884.

Vast and Mabanaft Secure AUD $40 Million Funding for CSP-powered Solar Methanol Plant SM1 to Help Decarbonise Shipping

Retrieved on: 
Wednesday, February 14, 2024
Other Energy, Technology, Utilities, Other Technology, Alternative Energy, Energy, Hydrogen, ASTRI, ARENA, Principal, Aviation, Methanol, Calix, Plant, Consortium, Government, SM1, EUR, CSP, Electricity, Business, Carbon, Renewable energy

“This is a giant leap for green fuel production globally,” said Craig Wood, CEO of Vast.

Key Points: 
  • “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.

Major win for compressed air energy storage as Hydrostor awarded 200 MW Long-Term Energy Service Agreement

Retrieved on: 
Monday, December 18, 2023
Kilowatt-hour, Policy, Government, Electricity, Mining, Business development, ARENA, Project, Employment, Renewable energy

“We are delighted to be awarded this LTESA, which is a big vote of confidence in not only long duration energy storage, but also our compressed air solution as a key technology pathway for decarbonisation and grid reliability across Australia” said Curtis VanWalleghem, CEO of Hydrostor.

Key Points: 
  • “We are delighted to be awarded this LTESA, which is a big vote of confidence in not only long duration energy storage, but also our compressed air solution as a key technology pathway for decarbonisation and grid reliability across Australia” said Curtis VanWalleghem, CEO of Hydrostor.
  • We are excited to help contribute to the shared prosperity of the region through jobs and clean, reliable energy.”
    A first-of-its-kind energy storage project for Australia, the LTESA contract demonstrates the important capabilities of Hydrostor’s Advanced Compressed Air Energy Storage (A-CAES) technology, which will be deployed at Silver City to provide 200 MW of renewable energy storage for up to eight hours.
  • Please see the NSW Minister for Energy, Penny Sharpe’s, release here: NSW secures more renewable energy projects | NSW Government
    The Silver City Energy Storage (“Silver City”) is an Advanced Compressed Air Energy Storage project capable of 200 MW generation for 8 hours duration (1,600 MWh).
  • Silver City will operate as a large energy storage asset, connected to the NSW grid and able to trade large quantities of energy on a daily basis.

Nabors Industries Completes Its Most Impactful Energy Transition Investment to Date

Retrieved on: 
Tuesday, December 19, 2023
Nabors Industries, NETC, CSP, Acquisition, NBR, Hydrocarbon, VS1, Investment, Électricité de France, ARENA, Hydrogen, EUR, Aviation, Automation, Renewable energy

Nabors sponsored NETC as a capital efficient way to pursue significant investment opportunities supporting the energy transition.

Key Points: 
  • Nabors sponsored NETC as a capital efficient way to pursue significant investment opportunities supporting the energy transition.
  • Nabors announced its energy transition strategy in 2021 and has made significant strides towards its goal of delivering "Energy Without Compromise."
  • Anthony Petrello concluded by saying:
    "Our strategy to manage the energy transition is to embrace energy innovation over energy exclusion.
  • "In addition to Vast, and in pursuit of clean, renewable, scalable and dispatchable energy solutions, Nabors has invested in geothermal, alternative energy storage, emissions monitoring, hydrogen and advanced materials."

Vast Receives Equity Commitment for up to USD $10 Million From Canberra Airport Group

Retrieved on: 
Thursday, September 21, 2023
Sustainability, Environment, Alternative Energy, Energy, Alternative Vehicles, Fuels, Automotive, Air, Transport, Methanol, NETC, SM1, VS1, Australian Renewable Energy Agency, USD, Wind, EUR, AUD, ARENA, Aviation biofuel, Growth, Carbon sequestration, CSP, Renewable energy, Vast, Canberra Airport

Vast Solar Pty Ltd (Vast), a world-leader in concentrated solar thermal power (CSP) energy systems, today announced that it has entered into a subscription agreement with Canberra Airport Group (Canberra Airport) to purchase up to USD $10 million of Vast ordinary shares at an approximate price of USD10.20 per share through an investment vehicle.

Key Points: 
  • Vast Solar Pty Ltd (Vast), a world-leader in concentrated solar thermal power (CSP) energy systems, today announced that it has entered into a subscription agreement with Canberra Airport Group (Canberra Airport) to purchase up to USD $10 million of Vast ordinary shares at an approximate price of USD10.20 per share through an investment vehicle.
  • The agreement is subject to closing of the previously announced business combination between Vast and Nabors Energy Transition Corp. (NETC).
  • Canberra Airport’s investment recognises the potential for Vast’s technology to be used to produce low-cost sustainable aviation fuels, a key challenge for the aviation industry as it aims to achieve decarbonisation targets.
  • USD $5 million of Canberra Airport’s commitment will serve as a backstop for subsequent capital raised by Vast from additional third-party debt or equity financing sources and is subject to a nominal commitment fee.

EQS-News: Photon Energy Joins RayGen to Open World-Leading Solar and Storage Plant in Australia

Retrieved on: 
Saturday, September 16, 2023
Photon, Partnership, Photon energy, Chevron Corporation, WSE, Schlumberger, Electricity, Australian Renewable Energy Agency, Investment, ARENA, AGL Energy, Solar energy, GWP, FSX, SLB, Renewable energy, Cryptocurrency

Photon Energy plans to deploy the unique RayGen technology for its 200 MW PV solar coupled with 115 MW of thermal storage project in Yadnarie, Australia.

Key Points: 
  • Photon Energy plans to deploy the unique RayGen technology for its 200 MW PV solar coupled with 115 MW of thermal storage project in Yadnarie, Australia.
  • Amsterdam/Sydney – 8 September 2023 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (‘Photon Energy Group’ or the ‘Company’), an Amsterdam-based renewable energy company delivering clean energy and water solutions in Europe and Australia joined with the Melbourne-based energy technology company RayGen Resources Pty Ltd (‘RayGen’) to celebrate the opening of RayGen’s innovative solar-plus-storage plant in Carwarp, Victoria.
  • ‘We are excited to celebrate the opening of RayGen’s solar-plus-storage plant, an important milestone in the energy transition in Australia and beyond’, said Georg Hotar, CEO of Photon Energy Group.
  • Along with developing RayGen projects, Photon Energy Group has since April 2020 made several equity investments in RayGen maintaining 7.6% stake in the high-tech company.

Vast, a world-leader in concentrated solar thermal power (CSP), appoints experienced CSP executive Federico Sandoval as Project Director for VS1 in South Australia

Retrieved on: 
Thursday, September 7, 2023
Environment, Technology, Other Energy, Environmental Health, Utilities, Other Technology, Alternative Energy, Sustainability, Energy, Government, ARENA, Multimedia, VS1, CSP, Construction, Australian Renewable Energy Agency, Renewable energy

Vast Solar Pty Ltd (“Vast” or the “Company”), a world-leader in concentrated solar thermal power (CSP), today announced the appointment of Federico Sandoval as its new Project Director for VS1, Vast’s 30MW / 288MWh CSP project in Port Augusta, South Australia.

Key Points: 
  • Vast Solar Pty Ltd (“Vast” or the “Company”), a world-leader in concentrated solar thermal power (CSP), today announced the appointment of Federico Sandoval as its new Project Director for VS1, Vast’s 30MW / 288MWh CSP project in Port Augusta, South Australia.
  • View the full release here: https://www.businesswire.com/news/home/20230907722959/en/
    Utilising Vast’s proprietary, modular tower CSP v3.0 technology, VS1 will generate clean, low-cost, dispatchable power with 8 hours of thermal energy storage.
  • Mr. Sandoval brings a wealth of CSP expertise and a global track record of success to this pivotal role.
  • Vast’s CSP v3.0 technology has immense potential, and together with the dedicated team here, we're poised to set new benchmarks in renewable energy.

Vast Announces Appointment of Mark Smith as Chief Financial Officer

Retrieved on: 
Tuesday, August 22, 2023
Other Energy, Utilities, Environment, Alternative Energy, Energy, Technology, Green Technology, Other Technology, BMO Capital Markets, Marshall, Carbon, Electricity, Multimedia, VS1, Australian Renewable Energy Agency, Government, Bank of Montreal, AUD, ARENA, CFO, Occidental Petroleum, Financial management, Investment, California Resources Corporation, CSP, Renewable energy, Vast

Vast Solar Pty Ltd (Vast), a renewable energy company specialising in concentrated solar thermal power (CSP) energy systems that generate zero-carbon, utility-scale, dispatchable electricity and industrial process heat, announced today the appointment of Marshall D. (Mark) Smith as the company’s new Chief Financial Officer (CFO), effective September 18, 2023.

Key Points: 
  • Vast Solar Pty Ltd (Vast), a renewable energy company specialising in concentrated solar thermal power (CSP) energy systems that generate zero-carbon, utility-scale, dispatchable electricity and industrial process heat, announced today the appointment of Marshall D. (Mark) Smith as the company’s new Chief Financial Officer (CFO), effective September 18, 2023.
  • View the full release here: https://www.businesswire.com/news/home/20230821568087/en/
    Based between Vast’s Sydney headquarters and Houston, Texas, Mr. Smith brings more than 30 years of experience, including energy industry expertise and leadership in operations, capital allocation, business development, and financial management.
  • Mr. Smith also held executive positions at California Resources Corporation, Occidental Petroleum, Ultra Petroleum, and J.M.
  • "Mark is a true energy industry veteran with deep experience as CFO of public and private equity-funded energy companies.

Vast, a world-leader in concentrated solar thermal power, announces partnership with CYD to model molten salt tank performance as VS1 project moves forward

Retrieved on: 
Thursday, August 10, 2023
Other Energy, Technology, Utilities, Other Technology, Alternative Energy, Energy, Avatar, Vast, Partnership, VS1, Australian Renewable Energy Agency, CYD, AUD, Patent, ARENA, Sin Contrato, CSP, Renewable energy

Utilising Vast’s proprietary, modular tower CSP v3.0 technology, VS1 is designed to generate clean, low-cost, dispatchable power with over 8 hours of thermal energy storage.

Key Points: 
  • Utilising Vast’s proprietary, modular tower CSP v3.0 technology, VS1 is designed to generate clean, low-cost, dispatchable power with over 8 hours of thermal energy storage.
  • This is a step forward for the CSP industry, with the potential to enhance the performance of molten salt storage tanks once operational.
  • The Avatar Model’s holistic approach to the design, manufacture, construction and operation of molten salt tanks will further strengthen VS1.
  • It provides an opportunity to implement learnings at an early-stage to ensure the optimal performance of thermal energy storage systems.”