Reported Friday May 31, 2024, Vast Renewables Has Received Planning Consent For Solar Methanol 1, A CSP-Powered Reference Plant That Will Produce Green Fuels
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Vast Renewables Limited (NASDAQ: VSTE) has received planning consent for Solar Methanol 1 (SM1), a CSP-powered reference plant in Port Augusta, South Australia, that will produce 7,500 tonnes of green methanol annually. The project, co-developed with Mabanaft GmbH & Co. KG, aims to decarbonize shipping and support South Australia's hydrogen industry. The project has secured funding from the Australian Renewable Energy Agency (ARENA) and Projektträger Jülich (PtJ) as part of the HyGATE collaboration between Australia and Germany.
June 04, 2024 | 4:17 pm
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Vast Renewables Limited (NASDAQ: VSTE) has received planning consent for its Solar Methanol 1 project, a significant step towards producing green methanol and supporting the hydrogen industry in South Australia.
The planning consent for SM1 is a critical milestone for Vast Renewables, indicating regulatory approval and progress towards the final investment decision. This development is likely to positively impact VSTE's stock price in the short term as it demonstrates the company's advancement in green fuel production and its potential to contribute to the decarbonization of the maritime industry.
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