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Vast Gets Approval for Solar Methanol Plant in Port Augusta
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Vast Gets Approval for Solar Methanol Plant in Port Augusta
by Simon Mansfield
Sydney, Australia (SPX) May 31, 2024

Vast (Vast Renewables Limited) (Nasdaq: VSTE), a renewable energy company specializing in concentrated solar thermal power (CSP) systems, has received planning consent for Solar Methanol 1 (SM1). This CSP-powered plant will produce green fuels in Port Augusta, South Australia.

SM1 will produce 7,500 tonnes of green methanol annually. This hydrogen derivative, if produced using Vast's CSP technology, could help decarbonize shipping and is already being used in major container vessels.

Vast is co-developing SM1 with global energy company Mabanaft GmbH and Co. KG (Mabanaft). The project will utilize various technologies: a Leilac calcination plant from Australian company Calix to capture carbon dioxide, an electrolysis plant to produce hydrogen, and a methanol plant.

The project aims to support South Australia's domestic hydrogen industry and could provide a scalable method for green fuel production.

The plant will be powered by VS1, a 30 MW / 288 MWh CSP plant using Vast's CSP v3.0 technology to provide renewable heat and electricity.

In February, Vast and its partners secured up to AUD $19.48 million from the Australian Renewable Energy Agency (ARENA). Mabanaft received up to EUR 12.4 million from Projekttrager Julich (PtJ), part of the HyGATE collaboration between the Australian and German governments.

Craig Wood, CEO of Vast, stated, "Planning consent is an important milestone for this major project for Port Augusta and South Australia. SM1 will produce low-cost green fuels, which can play an important role in decarbonising the global maritime industry. The combination of technologies can be scaled rapidly, acting as a catalyst for a green fuels industry in Australia and around the world."

Phil Hodgson, CEO and Managing Director of Calix, commented, "Capturing and using unavoidable emissions from cement and lime is an exciting option to help decarbonise multiple hard-to-abate industries. It is pleasing to see this innovative and collaborative project achieve another important milestone, bringing a world's first solar methanol plant one step closer to being realised."

Volker Ebeling, Senior Vice President New Energy, Supply and Infrastructure at Mabanaft, added, "After evaluating the effectiveness, we expect larger scale projects to be developed that would serve other markets, including Europe."

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