Startup · $259.5m raised
Sydney, NSW
Every investor coverage indicates participated in a round Vast raised.
| Investor | Rounds | Invested |
|---|---|---|
| AgCentral | Grant | $21,700,000 |
| ARENA | Grant · Grant · Grant · Grant | $65,000,000 |
| Australian Government | Grant · Grant · Venture debt | $110,000,000 |
| Australian Renewable Energy Agency (ARENA) | Grant · Grant · Grant · Grant | $113,860,000 |
| Canberra Airport | Unnamed stage | $15,100,000 |
| EDF | Unnamed stage | $10,000,000 |
| Federal Government | Venture debt | - |
| Federal Ministry of Education and Research (BMBF) | Grant | $20,400,000 |
| German Government | Grant | $20,200,000 |
| Germany | Grant | - |
| Hygate | Grant | $19,480,000 |
| Mabanaft GmbH & Co. KG | Grant | - |
| Nabors Energy Transition | Grant | $21,700,000 |
| US Department of Energy | Grant | - |
The transaction that ended Vast's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| - | IPO | 14 Feb 2023 | - | @AuManufacturing |
Companies Vast acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming Vast. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
The federal government, via ARENA, has granted Vast Energy $180 million toward its concentrated solar plant at Port Augusta, replacing a smaller 2023 commitment, with construction still dependent on closing the remaining project financing.
Vast's chief executive argues hydrogen demand is maturing, with shipping and aviation emerging as anchor customers for green methanol and eSAF, and points to government grant funding for the company's Port Augusta methanol project.
A rolling roundup of Australian energy-sector job moves, listing dozens of executives, directors and ministers joining or leaving utilities, regulators, developers and industry bodies between May and December 2023.
Woodside has committed another US$750,000 to 1414 Degrees' SiBox molten silicon storage demonstration, lifting its total backing to US$2.75 million, on top of earlier Australian Government money.
Vast Solar has lined up a share subscription from Canberra Airport Group worth as much as $US10 million ahead of its NYSE listing, with ARENA grant backing for its Port Augusta plant.
Also RenewEconomy
Manufacturing news roundup: CSL opens a Melbourne headquarters, Hazer raises $14.7m, Iluka advances its refinery with federal loan backing, plus executive appointments at Lithium Australia, Vast Solar and CSIRO's board.
Vast has brought in CYD to begin early engineering on its VS1 solar thermal project in Port Augusta, simulating the storage tanks digitally; the piece also recaps earlier ARENA backing.
Queensland and Germany launch a joint bioeconomy research programme backed by $3 million, while the article recalls Vast Solar and the Solar Methanol Consortium winning HyGATE grant funding for a green methanol plant in Port Augusta.
Vast Solar signed a letter of intent with Germany's Mabanaft covering potential offtake and equity in its Solar Methanol 1 plant, while ARENA's approved funding for the VS1 solar thermal project stands.
Podcast discussion in which Vast Solar's Craig Wood talks up concentrated solar power, the company's Port Augusta project, and plans to list in New York.
ARENA approves A$65 million for Vast Solar's Port Augusta solar power plant, with earlier pilot funding and HyGATE support for a solar methanol facility also recalled.
Also @AuManufacturing·RenewEconomy·@AuManufacturing·RenewEconomy·RenewEconomy·@AuManufacturing·RenewEconomy·@AuManufacturing
Vast Solar agrees a business combination with a SPAC to list on the NYSE; the article also recalls its HyGATE grant for a green methanol plant in Port Augusta.
Vast Solar joins a US-led consortium awarded a US$2.3 million Department of Energy grant to develop concentrated solar thermal storage, while progressing plants in South Australia and Queensland.
Weekend pre-election announcements detail federal support: a $48.2m grant for Opal's Maryvale waste-to-energy plant, $70m for the Port Bonython hydrogen hub, and a financing package for Vast Solar's planned solar thermal plant.
Vast Solar has won $110 million in federal finance to revive a 20MW solar thermal plant with storage at Port Augusta, five years after SolarReserve won the same support then abandoned the project.
An Australian solar thermal company finished a capital raise begun early in 2019, backed again by existing investors, and collected a technology innovation prize at an international conference in China.