Malta M100 System
Malta is developing utility-scale long-duration energy storage solutions. Its Pumped Heat Energy Storage (PHES) plant is based on well-established technologies in power generation adapted
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.
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.
This project is in alignment with Malta's energy and climate strategies, as it emphasises the integration of energy emanating from renewable sources and the mitigation of energy curtailment, thus enhancing energy security and reducing carbon emissions.
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