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Vast (OTC:VSTTF) closed a US$3.5 million placement of convertible notes with Nabors Industries and Canberra Airport Group to fund delivery of the Port Augusta Green Energy Hub and international project pipeline.
The flagship Vast Solar 1 (VS1) is a 30MW CSP plant with 10 hours thermal storage, targeted for Final Investment Decision by end of December 2025 and financial close by end of March 2026. VS1 has secured up to A$290 million in conditional Australian Government support, including a A$180 million ARENA grant.
The hub also includes a 140MW / 2-hour lithium-ion battery in partnership with 1414 Degrees. Vast will hold its 2025 AGM on November 14, 2025 and expects to publish annual financial statements on or around October 23, 2025.
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