The German government has allocated a grant of EUR 9 million (approximately USD 9.7 million) to support a consortium of companies in their efforts to evaluate the potential of Malta Inc's long-duration energy storage (LDES) technology in advancing the decarbonization of electricity and heat generation in Germany.
The funding, provided by the Federal Ministry for Economic Affairs and Climate Protection (BMWK), will be distributed to a subsidiary of Malta Inc and key partners, including the German Aerospace Center (DLR), Alfa Laval, and Siemens Energy. Together, they will collaborate on analyzing the applications of LDES in both electricity and heat grids, exploring suitable market mechanisms, and identifying potential deployment sites. The grant will also facilitate the expansion of DLR's test facility for thermal energy storage in molten salts (TESIS) to validate a heat exchanger designed by Alfa Laval.
Malta Inc's pumped-thermal energy storage (PTES) plant is designed as a direct replacement for fossil-fueled power plants, with the capability to generate 100 MW of clean power and 70 MW of clean heat. The technology leverages a heat pump to convert electricity into thermal energy, which can be stored for extended periods and subsequently converted back into clean power and heat as needed.
Malta Inc, headquartered in Cambridge, Massachusetts, originally emerged from Google's Moonshot Factory, X, in 2018. The company has received backing from investors like Bill Gates' Breakthrough Energy Ventures and Chevron's emerging technologies investment arm. This grant underscores the collaborative efforts of Malta Inc and its partners to advance sustainable energy solutions and accelerate the transition away from fossil fuels.
