HyFuel Solar Refinery, a subsidiary of Sydney-headquartered Vast Renewables (Vast) has been awarded $700,000 (USD 438,585) through the Australia-Singapore Low Emissions Technologies (ASLET) initiative for maritime and port operations.
The funding will progress the development of South Australia (SA) Solar Fuels, a sustainable fuels project collaboration between Vast and German-headquartered global energy company Mabanaft.
Previously known as Solar Methanol 1, or SM1, SA Solar fuels is being developed to meet growing demand for sustainable fuels by the maritime and aviation industries, seeking ways to decarbonise fuel and meet Net Zero targets.
The SA Solar Fuels demonstration plant will be capable of producing 7,500 tonnes per annum of green methanol, enough to fuel multiple car ferries for sustainable tourism or short-sea shipping for bulk freight in Australia.
Vast Chief Executive Officer Craig Wood said the financial backing recognises the potential of the SA Solar Fuels project to play a significant role in decarbonising global fuel production.
“We believe SA Solar Fuels offers a scalable solution which can produce green fuels at lower cost than renewable-powered alternatives,” Wood said.
“We are looking forward to progressing towards FEED with our partners at Mabanaft, and to advancing our global pipeline of green fuels projects.”
Located at the Port Augusta Green Energy Hub, SA Solar Fuels will be powered by Vast’s next generation concentrated solar thermal power technology, which is expected to offer the lowest-cost energy source for green fuel production thanks to its ability to generate continuous heat and power.
Vast’s principal CO2 supply partner on the project, Calix will supply unavoidable industrial CO2 emissions through its co-located world-first carbon capture and utilisation demonstration plant. The CO2 will be synthesised with green hydrogen to create sustainable fuels.
ASLET is co-delivered by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Maritime and Port Authority of Singapore, and is supported by the governments of Australia and Singapore.
The ASLET funding is the latest boost of support for SA Solar Fuels, following the funding announced in January 2023 that Vast will receive up to $19.48 million from the Australian Renewable Energy Agency (ARENA) and Mabanaft will receive up to $21.4 million from Projektträger Jülich (PtJ) on behalf of the German government as part of the German-Australian Hydrogen Innovation and Technology Incubator (known as HyGATE).
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