In Australia, Vast Renewables Limited announced it has signed a Joint Development Agreement (JDA) with global energy company Mabanaft to advance Solar Methanol 1 (SM1), a CSP-powered green methanol reference plant.
Located in South Australia at the Port Augusta Green Energy Hub, SM1 will have the capacity to produce 7,500 tons of green methanol each year. Methanol is one of the most versatile hydrogen derivatives which, if produced using clean energy, has the potential to decarbonize several hard-to-abate industries, including shipping and aviation.
SM1 will be supplied with baseload renewable heat from Vast’s 30 MW / 288 MWh CSP plant.
Craig Wood, CEO of Vast, said: “The JDA is a significant milestone for SM1, which has the potential to demonstrate how Vast technology can unlock low-cost green fuel production to contribute to decarbonizing the global shipping and aviation industries. Vast is excited to continue our partnership with Mabanaft, and the execution of this agreement is a testament to our joint commitment to pioneer green fuel production globally.”
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Tags: Australia, green methanol, Mabanaft, Vast Renewables Limited
Category: Fuels
