Cox Energy SAB de CV, a Spanish-Mexican green power company, has invested in Malta Inc., a U.S.-based developer of grid-scale long-duration energy storage (LDES) solutions, becoming a shareholder as part of a new technological partnership.
The collaboration aims to enhance Malta's position in the LDES sector and accelerate the deployment of its pumped heat energy storage (PHES) technology.
Cox Energy CEO Enrique Riquelme emphasized that the company's expertise in molten salt storage systems and engineering will aid Malta in advancing its innovative storage solutions.
This partnership aligns with Cox's commitment to expanding its role in the renewable energy space.
Malta Inc., a spin-off from Alphabet's X (moonshot factory), counts among its investors Siemens Energy Ventures, Breakthrough Energy Ventures, and Chevron Technology Ventures. Malta's chairperson Alexandra Pruner welcomed Cox's involvement, noting its “deep technical expertise and global positioning” would help push the company's development forward.
