Vast Renewables Limited (Vast) (Nasdaq: VSTE), a renewable
energy company specialising in concentrated solar thermal power
(“CSP”) energy systems that generate zero-carbon, utility-scale
electricity and industrial process heat, today announced the
appointment of two additional directors, Peter Botten and Tom
Quinn.
The appointment of Mr. Botten and Mr. Quinn, as well as the
appointments made last month in connection with the closing of
Vast’s business combination with Nabors Energy Transition Corp.,
underscore Vast’s dedication to high standards of corporate
governance and strategic oversight.
Vast’s board of directors is comprised of esteemed professionals
who bring a wealth of experience with listed firms in the U.S. and
Australia, as well as deep expertise in the global energy industry.
The board will play a pivotal role in shaping the company’s
direction, ensuring it remains at the forefront of renewable energy
technology, continuing to deliver value to its shareholders,
employees, customers and the communities in which it operates.
The board now comprises:
Peter Botten (Chairman): Mr Botten is a distinguished
ex-Chief Executive and internationally recognised business leader,
with over 40 years of experience in the resources sector. With an
illustrious career, including over 26 years as Managing Director of
the international energy company Oil Search, Mr. Botten was one of
the longest-serving Chief Executives on the Australian Stock
Exchange.
Craig Wood: Mr Wood is the CEO of Vast. He brings a
wealth of experience, with a background in finance and investment,
and leadership positions in industrial and manufacturing
organisations. His diverse career has spanned key locations
including Sydney, New York, London and Perth with notable roles at
Archer Capital, Lehman Brothers, Clough Engineering and Brownes
Dairy. Mr Wood’s visionary leadership has been instrumental in
Vast’s success in revolutionising the CSP landscape.
Colleen Calhoun: Ms Calhoun currently serves as a
director of Quaise Energy, Via Separations and Nabors Transition
Corporation II (NYSE: NETD). Ms Calhoun’s diverse experience
encompasses leading complex project and structured finance
transactions, heading the marketing and strategy team for General
Electric’s Power and Water business, and investing venture capital
across the energy value chain.
Tom Quinn: Mr Quinn is an established energy transition
leader whose track record of inclusive, accountable leadership has
delivered sustainable growth in major diversified Australian,
European, North American, and Asian businesses. Mr Quinn brings to
the Vast board C-Suite global expertise in engineering,
construction and maintenance enterprises in infrastructure, energy,
resources, industrial and social services sectors.
William Restrepo: Mr Restrepo is the CFO of Nabors
Industries Inc. He has extensive US and global expertise in
corporate finance, tax, capital markets, strategic planning and
M&A, and operational experience in several international
markets. He has held CFO positions at Smith International and
Pacific Drilling, following a 20-year career at Schlumberger. Mr
Restrepo currently serves on the boards of directors for Quaise
Energy, Sage Geosystems and UCAP Maxwell. He has also served on the
boards of Reelwell AS, SANAD - Saudi Aramco Nabors Drilling,
C&J Energy Services, Probe Technologies and Platinum Energy
Solutions.
Colin Richardson: Mr Richardson is the Chairman of MA
Money. He sits on various investment committees for funds managed
by MA Financial Group and holds positions on the boards of various
Twynam Group companies. Mr Richardson's distinguished investment
banking career includes previous roles as Managing Director at
Rothschild, Managing Director and Head of M&A for Australia and
New Zealand at Citigroup and Managing Director in M&A at
Deutsche Bank.
John Yearwood: Mr Yearwood currently holds positions on
the boards of directors for several prominent companies including
Nabors Industries Inc and Technip FMC. He has a notable history of
board service, having previously been a member of the boards of
Barra Energia, Sabine Oil & Gas LLC, Premium Oilfield Services
LLC, and Dixie Electric LLC. Mr Yearwood also served as the Chief
Executive Officer, President and Chief Operating Officer of Smith
International, Inc.
Craig Wood CEO of Vast said, "We are incredibly excited to
welcome our new board members. Their collective expertise and
leadership capabilities align perfectly with Vast’s vision and
goals for the future. We look forward to achieving new milestones
under their guidance.”
“Our new board is a vote of confidence in Vast and our
proprietary CSP v.3.0 technology, which will help decarbonise
electricity and industry, as well as the shipping and aviation
industries through the production of green fuels.”
Peter Botten, Chairman of Vast, said “I am delighted to lead the
board of such an innovative and forward-looking company. With its
development of utility-scale CSP projects in Australia and pipeline
of projects around the world, Vast has the potential to
revolutionise the energy sector with utility-scale, zero carbon
dispatchable heat, power and green fuels.”
About Vast
Vast is a renewable energy company that has 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 utilises a proprietary,
modular sodium loop to efficiently capture and convert solar heat
into these end products.
On December 19, 2023, Vast listed on the Nasdaq under the ticker
symbol “VSTE”, while remaining headquartered in Australia.
Visit www.vast.energy for more information.
Forward-Looking Statements
The information included herein and in any oral statements made
in connection herewith include "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of present or
historical fact included herein, regarding the Business
Combination, the benefits of the Business Combination and Vast's
future financial performance following the Business Combination, as
well as Vast's strategy, future operations, financial position,
estimated revenues and losses, projected costs, prospects, plans
and objectives of management are forward-looking statements. When
used herein, including any oral statements made in connection
herewith, the words "could," "should," “will,” “may,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “project,” the
negative of such terms and other similar expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on Vast management’s current
expectations and assumptions, whether or not identified in this
press release, about future events and are based on currently
available information as to the outcome and timing of future
events. Except as otherwise required by applicable law, Vast
disclaims any duty to update any forward-looking statements, all of
which are expressly qualified by the statements in this section, to
reflect events or circumstances after the date hereof. Vast
cautions you that these forward-looking statements are subject to
risks and uncertainties, most of which are difficult to predict and
many of which are beyond the control of Vast. These risks include,
but are not limited to, general economic, financial, legal,
political and business conditions and changes in domestic and
foreign markets; the inability to recognise the anticipated
benefits of the Business Combination; costs related to the Business
Combination; Vast’s ability to manage growth; Vast’s ability to
execute its business plan, including the completion of the Port
Augusta project, at all or in a timely manner and meet its
projections; potential litigation, governmental or regulatory
proceedings, investigations or inquiries involving Vast or NETC,
including in relation to the Business Combination; changes in
applicable laws or regulations and general economic and market
conditions impacting demand for Vast’s products and services.
Additional risks are set forth in the section titled "Risk Factors"
in the final prospectus, dated November 22, 2023, as supplemented,
and other documents filed, or to be filed with the SEC by Vast.
Should one or more of the risks or uncertainties described herein
and in any oral statements made in connection therewith occur, or
should underlying assumptions prove incorrect, actual results and
plans could differ materially from those expressed in any
forward-looking statements. Additional information concerning these
and other factors that may impact Vast’s expectations can be found
in Vast’s periodic filings with the SEC. Vast’s SEC filings are
available publicly on the SEC’s website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20240112366134/en/
For Investors: Caldwell Bailey ICR, Inc. VastIR@icrinc.com For
US media: Matt Dallas ICR, Inc. VastPR@icrinc.com For Australian
media: Nick Albrow Wilkinson Butler nick@wilkinsonbutler.com
Grafico Azioni Vast Renewable (NASDAQ:VSTE)
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