Vast Renewables ( (VSTE) ) has issued an update.
On February 28, 2025, Vast Renewables Limited announced its operational and financial results for the first half of fiscal 2025, covering the six months ended December 31, 2024. The company reported a total revenue of $6.6 million, primarily from grant revenue, and a net loss of $5.7 million due to increased engineering and project consultancy expenses. The company also highlighted significant operational milestones, including the completion of large-scale testing of its CSP receiver tower and the signing of a development services agreement for a synthetic fuels project in the Southwest United States. Vast secured a AUD30 million non-dilutive grant from ARENA to further its CSP projects, particularly the VS1 project in Port Augusta, South Australia. These developments underscore Vast’s commitment to advancing its CSP technology and expanding its presence in the renewable energy sector.
More about Vast Renewables
Vast Renewables Limited is a renewable energy company specializing in concentrated solar thermal power (CSP) systems. These systems are designed to generate, store, and dispatch carbon-free, utility-scale electricity and industrial heat, as well as enable the production of green fuels. The company employs a proprietary modular sodium loop technology to efficiently capture and convert solar heat into these end products. Vast is headquartered in Australia and listed on the Nasdaq under the ticker symbol ‘VSTE’.
YTD Price Performance: -51.57%
Average Trading Volume: 2,439,010
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $17.58M
See more data about VSTE stock on TipRanks’ Stock Analysis page.