Mr. Sandoval brings extensive international CSP project delivery experience to Vast as VS1 moves towards construction.

Vast Solar Pty Ltd (“Vast” or the “Company”), a world-leader in concentrated solar thermal power (CSP), today announced the appointment of Federico Sandoval as its new Project Director for VS1, Vast’s 30MW / 288MWh CSP project in Port Augusta, South Australia.

“I’m very excited to be a part of Vast’s visionary journey. Vast’s CSP v3.0 technology has immense potential, and together with the dedicated team here, we’re poised to set new benchmarks in renewable energy.

Utilising Vast’s proprietary, modular tower CSP v3.0 technology, VS1 will generate clean, low-cost, dispatchable power with 8 hours of thermal energy storage. The Australian government announced it will support the project with up to A$110m in concessional financing and up to A$65 million of grant funding from the Australian Renewable Energy Agency (ARENA).

Mr. Sandoval brings a wealth of CSP expertise and a global track record of success to this pivotal role. His previous role as Construction Manager at Noor Energy in the UAE and his prior experiences with multiple CSP projects worldwide mean he will make an invaluable contribution to the Vast team and the delivery of VS1.

«Federico’s deep expertise in CSP and his passion and character make him a perfect fit to steer our ambitious project,» said Craig Wood, CEO of Vast. “We are confident his leadership of our VS1 project will expand Vast’s capabilities, cementing our position at the forefront of global renewable energy innovations.”

On accepting the role, Mr. Sandoval said, «I’m very excited to be a part of Vast’s visionary journey. Vast’s CSP v3.0 technology has immense potential, and together with the dedicated team here, we’re poised to set new benchmarks in renewable energy.

“I look forward to meeting with the local community, suppliers and other project stakeholders as we work together to build VS1, creating a first-of-its-kind energy project in Port Augusta that will generate dispatchable, zero-emission heat and power.”

Vast is a renewable energy company that designs, builds and operates CSP systems to generate, store and dispatch carbon free, utility-scale electricity, industrial heat, and to enable the production of green fuels. Vast’s CSP v3.0 approach to CSP utilizes a proprietary, modular sodium loop to efficiently capture and convert solar heat into these end products.

On February 14, 2023, Vast announced a business combination agreement with Nabors Energy Transition Corp. (NYSE: NETC). The combined entity would be named Vast and its securities are expected to be listed on the New York Stock Exchange under the ticker symbol “VSTE” while remaining headquartered in Australia.
Visit www.vast.energy for more information.

Nabors Energy Transition Corp. (NYSE: NETC, NETC.WS, NETC.U) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. NETC was formed to identify solutions, opportunities, companies or technologies that focus on advancing the energy transition; specifically, ones that facilitate, improve or complement the reduction of carbon or greenhouse gas emissions while satisfying growing energy consumption across markets globally.

NETC is an affiliate of Nabors Industries Ltd. (Nabors), a leading provider of advanced technology for the energy industry. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors, which owns the global industry’s largest fleet of land drilling rigs and equipment, is committed to innovate the future of energy and enable the transition to a lower-carbon world.