Subheading 1: Strategic Financing for Game-Changing Energy Storage Technology
Malta Inc., a leading force in long-duration energy storage, announces successful funding closure from key investors like Siemens Energy Ventures, Alfa Laval, Breakthrough Energy Ventures, Proman, Chevron Technology Ventures, and Piva Capital. The substantial capital injection is earmarked to expedite the global deployment of Malta’s grid-scale, long-duration energy storage systems.
Subheading 2: Revolutionizing Renewable Energy Transition
Malta’s energy storage solution, capable of storing electricity from eight hours to eight days or longer, presents a significant leap toward low-cost, carbon-free renewable energy. Partnering with Siemens Energy and Alfa Laval, Malta’s plant serves as a direct substitute for natural gas-powered plants, reducing CO2 emissions and enhancing energy security. The technology allows solar and wind to replace traditional generation methods, ensuring grid stability, power reliability, and system resilience.
Subheading 3: Industry Leaders Join Forces for Net Zero Impact
Siemens Energy’s CEO, Christian Bruch, emphasizes Malta’s innovation in providing a flexible, cost-effective, and scalable solution for long-duration energy storage. Alfa Laval’s CEO, Tom Erixon, highlights the crucial role of their innovative heat exchanger technology in achieving commercially viable long-duration energy storage, essential for decarbonizing the renewable energy sector.
Malta’s President and CEO, Ramya Swaminathan, expresses excitement about the support from world-class investors, acknowledging their expertise in navigating the rapidly expanding growth market. With early works underway, Malta aims to lead the global commercialization of their groundbreaking energy storage solution by early 2025.
Source: businesswire.com
