About Malta containerized energy storage manufacturer
Malta is a developer of grid-scale long-duration thermal energy storage solutions. Incubated at X, the Moonshot Factory (formerly Google [X]), Malta is based in Cambridge, Massachusetts. For more information visit
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6 FAQs about [Malta containerized energy storage manufacturer]
Is Malta a long-duration energy storage company?
CAMBRIDGE, Mass., Feb. 24, 2021 /PRNewswire/ -- Malta Inc., a pioneer in long-duration energy storage, today announced it has raised $50M in a Series B round of funding. The financing was led by integrated energy group Proman with participation from new investor Dustin Moskovitz and existing investors Alfa Laval and Breakthrough Energy Ventures.
What is Malta's energy storage system?
Malta’s grid-scale, long-duration energy storage system helps governments, utilities, and grid operators transition to low-cost, carbon free renewable energy while enhancing energy security. Storing electricity for eight hours to eight days or longer, the solution reduces CO 2 emissions and dependence on natural gas.
Is Malta the first company to commercialize a thermoelectric energy storage system?
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.
Is Malta a ready-to-market energy storage solution?
Today Malta is in advanced discussions with a more than a dozen utilities in Europe, and the Americas over plans to deploy Malta’s long duration energy storage technology. As the urgency of the energy transition grows, interest in Malta’s ready-to-market, thermo-electric energy storage solution has skyrocketed.
Does Malta need a low-cost energy storage solution?
David Cassidy, Chief Executive of Proman, Malta's lead investor, says, "There is an exponential global need for long-duration, low-cost energy storage solutions, and we are excited to work with the Malta team and our new partners to progress Malta's highly scalable and technically robust solution.
Who is Malta & why is it a big company?
Malta was formed as an independent company, outside of Alphabet, in December 2018. Today Malta is in advanced discussions with a more than a dozen utilities in Europe, and the Americas over plans to deploy Malta’s long duration energy storage technology.
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