Australian concentrated solar power company Vast intends to list on the New York Stock Exchange as the firm aims to scale its next-generation technology.

Vast has entered into a business combination agreement with Nabors Energy Transition Corp., a special purpose acquisition company. The merged entity is expected to be listed under the ticker symbol VSTE, while remaining headquartered in Australia.

Founded in 2009, Vast’s proprietary CSP system uses a modular tower design and a sodium loop for heat transfer to efficiently capture and store solar heat for conversion into clean and renewable electricity and heat.

The company’s system is designed to deliver greater efficiency, simplified permitting, faster construction, and more reliable operations when compared to conventional central tower CSP plants.

“Vast’s CSP technology collects and stores the sun’s energy during the day for delivery at any time, making around-the-clock, clean power a reality,” Vast CEO Craig Wood said in a statement. “While the cost of wind and PV solar has declined significantly, their intermittency remains a key challenge that can only be addressed with storage.”

---

Subscribe today to the all-new Factor This! podcast from Renewable Energy World. This podcast is designed specifically for the solar industry and is available wherever you get your podcasts.

---

Vast’s proprietary CSP technology reflects and concentrates the sun’s rays onto solar receivers that capture the sun’s energy as heat in sodium, then transfer the heat to molten salt for high-density storage.

The stored heat can then