Malta, Inc.: Robust Power Grids with Clean Energy Storage
Malta Inc., a renewable energy storage company, incubated at X, Alphabet''s Moonshot Factory, is on a mission to bring an advanced renewable energy storage system to market.
Malta's innovative long-duration energy storage technology stores electricity as thermal energy from eight hours to eight days or longer, later returning it to the grid to meet hourly, daily, and weekly needs.
Malta's utility-scale, long-duration energy storage system uses steam-based heat pump technology to deliver dispatchable, cost-effective energy. Malta's long-duration energy storage solution is already being deployed. Hear directly from the voices working alongside us to advance reliable, sustainable energy solutions.
Christian Bruch, President and CEO of Siemens Energy, said, “ Malta's innovative thermoelectric energy storage system offers a flexible, cost-effective and scalable solution for the storage of energy over long periods of time. With our support, Malta is well positioned to be the first company to commercialize such a solution globally.
CAMBRIDGE, Mass.-- (BUSINESS WIRE)--Malta Inc., a leader in long-duration energy storage, today announced that it has closed on a round of financing provided by a group of investors including Siemens Energy Ventures and Alfa Laval as well as existing shareholders Breakthrough Energy Ventures, Proman, Chevron Technology Ventures, and Piva Capital.
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