Vast Renewables Ltd (VSTE) News & EventsVSTEVast Renewables Ltd

Vast secures new funding, launches capital raise

Vast Renewables secured new funding from existing shareholders and launched a capital raise to support the delivery of its flagship Port Augusta Green Energy Hub and growing international project pipeline. Vast also shared several major milestones for its flagship project, Vast Solar 1, including environmental approvals and grid connection progress. Vast has entered into a termsheet for $3.5M of convertible notes from two of its largest and longest-standing investors, Nabors Industries and Canberra Airport Group. The financing is expected to close by the end of August. This continued backing reflects strong investor confidence in Vast's differentiated technology and commercial readiness. In parallel, Vast has launched a capital raise targeting leading institutional and strategic investors, with Rennie Advisory appointed to lead the process. Vast is also advancing a collaboration with a major player in the renewable energy sector with deep manufacturing capability and proven delivery of large-scale projects in comparable technologies. This partnership is focused on accelerating deployment of Vast's technology in key global markets and unlocking additional commercial opportunities alongside the current project pipeline. Located in South Australia, the Port Augusta Green Energy Hub will be home to a suite of integrated projects designed to deliver clean, dispatchable energy and enable decarbonisation of transport and industry: VS1: A 30MW concentrated solar thermal plant with 8 hours of storage, VS1 has secured up to A$290 million in conditional Australian Government support, including a A$180 million ARENA grant. The project will deliver low-cost, low-carbon power on demand, and is on track for construction to begin later this year. 140MW / 2-hour lithium-ion battery: Developed in partnership with 1414 Degrees, this project provides critical storage and grid stability and is also on track to commence construction later this year. South Australian Solar Fuels: A green fuels demonstration facility that aims to produce low-carbon hydrogen-derived fuels for aviation and shipping. With the pre-FEED stage now complete, MB Energy will conclude its involvement as the project progresses to FEED. Vast continues to lead development, supported by the award of A$700,000 in funding announced in March from the Australia-Singapore Low Emissions Technologies initiative for maritime and port operations.

Vast to delist share from Nasdaq

Vast announced that it has notified Nasdaq of its intention to voluntarily delist its ordinary shares and public warrants from Nasdaq. Delisting from Nasdaq marks the first step in Vast's broader strategy to cease its public reporting obligations in the U.S. The decision to delist and deregister is a strategic step by Vast to simplify its corporate structure, reduce regulatory and administrative costs, and align its governance with the scale and needs of its business.

Vast promotes Lachlan Roberts to COO

Vast announced the promotion of Lachlan Roberts, current GM of project development and delivery, to COO.