Vast Renewables (VSTE) has released an update.
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Vast Renewables Limited has gained planning approval for its innovative Solar Methanol 1 (SM1) project in Port Augusta, Australia, which aims to produce 7,500 tonnes of green methanol annually using concentrated solar thermal power (CSP). The project, co-developed with Mabanaft, will utilize a combination of cutting-edge technologies to produce renewable fuels and support the decarbonization of the maritime industry. Securing funding from the Australian Renewable Energy Agency and the German government, this development marks a significant step towards creating a scalable green fuel industry.
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