Australian clean energy firm Vast Solar is one of just 23 companies globally to be shortlisted as a finalist by Bloomberg New Energy Finance’s (BNEF) Pioneers 2022 program.
BNEF Pioneers recognises “a group of game-changing technologies or innovations annually – each with the potential to accelerate global decarbonisation and halt climate change.”
Vast Solar’s solar thermal technology is the missing piece in the energy puzzle generating clean, low-cost, dispatchable energy. The company is one of six nominated in the ‘Providing round-the-clock zero-emissions power’ challenge and is one of the first Australian companies ever to be shortlisted as a finalist in the ten-year history of the Pioneers program.
The Federal Government’s energy Technology Investment Roadmap identifies solar thermal as a key technology, as does the Long Duration Energy Storage Council, formed at COP 26. Solar thermal is already deployed at scale overseas, and the International Energy Agency has forecast it will increase ten-fold to 73GW globally by 2030.
This presents a huge opportunity for Vast Solar. As well as reducing energy bills and emissions, Vast Solar will deliver a new Australian green technology export industry, creating hundreds of highly-skilled jobs and billions of dollars in export revenue.
Vast Solar’s technology, which was proven at its pilot project in Jemalong, New South Wales, was awarded the International Energy Agency’s SolarPACES Technical Innovation Award in 2019 for its groundbreaking modular tower solar thermal technology.
The company is currently developing several projects in Australia and overseas, including a 50MW baseload solar hybrid in Mount Isa, Queensland.
Craig Wood, CEO of Vast Solar, said:
“We are delighted to be recognised by BNEF and to be a finalist in its Pioneers 2022 program. It underlines the global interest in Australian-made clean energy technology. Vast Solar’s technology is crucial to decarbonising Australia’s energy supply by providing low-cost, dispatchable zero-emissions power through solar thermal.”