Malta is a developer of grid-scale long-duration thermal energy storage solutions.

Malta is building a new type of electro-thermal energy storage system that can collect and store energy from any source (i.e. wind, sun, or fossil fuels), in any location and for long durations, and dispatch it as electricity on demand.

Malta was founded in 2018 and incubated at X, the Moonshot Factory (formerly Google [X]. The company is headquartered in Cambridge, Massachusetts.

 

The Malta Pumped Heat Energy Storage (PHES) system leverages well-understood thermodynamic systems in a novel energy storage application. The PHES system converts electricity from any source, either directly from a generation facility or from the grid, to be stored as thermal energy.

 

The Malta system is able to satisfy a daily or weekly load cycle by efficiently storing up to 200 hours of energy storage, though early systems will focus on current market applications in need of 10- to 12-hour durations.

 

Malta is backed by Breakthrough Energy Ventures, Chevron Technology Ventures, Piva Capital, Proman, Dustin Moskovitz and others. The company closed its Series B with over $60M in financing in Aug 2021. This brings Malta's total funding to $86.9M to date. 

 

 

  • Year founded: 2018
  • Funding Info: $86.9M over 3 Rounds (Latest Funding Type: Series B)
  • Yearly Revenue: NA
  • Employee Size: 51-200
  • Business Valuation: NA
  • City/Town: Cambridge
  • State: Massachusetts
  • Country: United States
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