Vast Renewables is an early-stage Australian company that has developed a proprietary third-generation concentrated solar power (CSP) technology called CSPv3.0. CSP uses mirrors to focus sunlight onto thermal receivers, converting solar energy into heat stored in molten salt tanks, which can then be dispatched on demand to generate electricity or industrial heat — making it dispatchable unlike solar PV or wind. Vast's system uses a distributed modular tower design, where each module focuses sunlight onto a receiver atop a ~50-meter tower, using liquid sodium as the heat transfer fluid. Vast argues this design reduces construction time, eliminates single points of failure, and improves efficiency versus prior CSP generations. Vast is not yet generating meaningful revenue. Its primary near-term milestone is VS1, a 30 MW reference CSP plant in Port Augusta, South Australia, backed by up to A$175M in Australian government grants and concessional financing. Vast's intended business model spans four areas: developing CSP projects as an independent energy producer, selling core solar array equipment and licensing its technology as an OEM, providing EPC services, and offering ongoing O&M support. EDF holds the right to invest up to 75% of equity in approved projects including VS1. Once VS1 is operational, Vast plans to use it as a reference project to build a broader pipeline currently totaling 3.7 GW globally, targeting utilities, remote industrial operations, industrial heat customers, and green fuel producers in high-solar-resource markets including North America, Saudi Arabia, Chile, and Africa.