Vast Receives $30M from ARENA
DENVER, Colo., Nov 25, 2024 (247marketnews.com)- Vast Renewables (NASDAQ: VSTE) reported signing signed an updated funding agreement to access up to $30 million of its existing $65 million grant from the Australian Renewable Energy Agency (“ARENA”), to support Vast’s manufacturing and project development activities as it deploys its concentrated solar thermal power (CSP) solution.
Craig Wood, Vast’s CEO, stated, “Unlocking this funding helps accelerate our Australian green technology manufacturing and the final stages of development for our first utility-scale project. ARENA’s backing has been pivotal, getting us to a point where we are garnering significant interest from investors, industry and international governments keen to explore how our technology can play a key role in decarbonising hard-to-abate sectors including electricity, industry and fuels.
“With the continued support of the Australian Government and our investors, we are looking forward to building our next projects, and to helping Australia become an export powerhouse for this next generation of green technology.”
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