Malta
Malta Inc. develops steam-based pumped heat energy storage (PHES) technology for utility-scale long-duration energy storage and 300–550°C industrial heat electrification, serving utilities, hard-to-abate industrial sectors, and data centers with molten salt thermal storage systems.
- Company typePrivate
- Founded2018
- HeadquartersCambridge, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Malta does
Malta Inc. is a Cambridge, Massachusetts-based energy technology company developing steam-based pumped heat energy storage (PHES) for utility-scale long-duration energy storage (LDES) and industrial heat electrification. Spun out of Alphabet's X (formerly Google X) Moonshot Factory in 2018, the company's core platform uses an ultra-high temperature heat pump to convert electricity into thermal energy stored in molten salt, then reconverts that stored energy into dispatchable electricity and process heat on demand. The company offers two integrated products: Malta SEMS (Steam Energy Management and Storage), the utility-scale LDES system delivering 100 MW of clean power and 70 MW of clean heat per plant with up to 90% round-trip efficiency, 30+ year operational life, and storage durations from 8 hours to 8+ days; and Malta AHP (Advanced Heat Pump), a 300–550°C industrial heat pump that can be deployed standalone or as the core charging component of Malta SEMS.
Malta's business model is project-based hardware sales to utilities and industrial customers, supplemented by long-duration grid services contracts. Revenue is generated through utility-scale deployments (100+ MW capacity), industrial heat electrification projects, and grid services such as frequency support, voltage regulation, and synchronous inertia. The company operates a direct enterprise field sales motion targeting utilities, industrial companies, and governments, complemented by a strategic partnership channel with blue-chip investors and industry leaders (Siemens Energy, Alfa Laval, BBVA, Cox, Bechtel, ACWA Power, Schmid Pekintas) that provide capital, equipment, EPC capabilities, and commercial market access. The company has wholly-owned subsidiaries in Spain (Malta Iberia PHES SL) and Germany (Malta Hochtemperatur Wärmepumpen Stromspeicher GmbH) to serve European markets. First commercial deployments include the Malta AHP at Proman's methanol plant in Pampa, Texas and the 14 MWh Malta-D demonstration project in Puertollano, Spain.
Malta targets two primary customer segments: utilities and grid operators seeking long-duration storage to replace fossil peaker plants and provide grid reliability services (synchronous inertia, frequency support, black start) as renewable penetration grows; and hard-to-abate industrial sectors (iron and steel, refining, chemicals, pulp and paper, food and beverage, aluminum) requiring high-temperature process heat decarbonization. Use cases extend to data centers, district heating/cooling, desalination, geothermal, and concentrated solar power. The company is privately held, has raised approximately $160M+ across multiple funding rounds from strategic investors including Breakthrough Energy Ventures, Siemens Energy Ventures, Alfa Laval, Proman, Chevron Technology Ventures, Cox, Piva Capital, Trafigura, Dustin Moskovitz, and X (the Moonshot Factory), and has 11-50 employees.
Malta firmographics
Firmographics- Name
- Malta
- Legal name
- Malta Inc.
- Website
- https://maltainc.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Malta Inc. develops steam-based pumped heat energy storage (PHES) technology for utility-scale long-duration energy storage and 300–550°C industrial heat electrification, serving utilities, hard-to-abate industrial sectors, and data centers with molten salt thermal storage systems.
- Ownership category
- akta.pro rank
Malta industry classification
Industry- Product category
- Long-Duration Energy Storage Systems
- NAICS
- Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (33241), Steam and Air-Conditioning Supply (22133)
- SIC
- Cogeneration Services & Small Power Producers (4991), Steam & Air-Conditioning Supply (4961), Heating Equipment, Except Electric & Warm Air Furnaces (3433)
- akta.pro primary industry
- Molten Salt Thermal Storage (CSP & High-Temperature Heat) (EUAFANAB)
- akta.pro secondary industries
- Industrial Process Heat TES (Steam, Kilns, Furnaces, Waste-Heat Coupling) (EUAFANAI), TES Components & Balance-of-Plant (Heat Exchangers, Tanks, Insulation, Pumps, Valves) (EUAFANAL)
Keywords
Where Malta is headquartered
LocationHeadquarters
- HQ city
- Cambridge
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Malta business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Utility-Scale Energy Storage Projects: Malta generates revenue through deployment of its grid-scale energy storage systems to utilities and large industrial customers. Projects are typically 100+ MW capacity and provide long-duration storage services (8 hours to 8+ days). Revenue structure includes development, construction, and operational phases with power purchase agreements and grid services contracts.
- Industrial Heat Electrification: Deployment of Advanced Heat Pump (AHP) technology to industrial customers for process heat applications (300-550°C). First commercial deployment underway at Proman's methanol plant in Pampa, Texas.
- Grid Services and Storage Capacity Contracts: Revenue from supplying clean, dispatchable electricity and critical grid services including frequency support, voltage regulation, and synchronous inertia to stabilize power grids.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Project-based pricing for utility-scale LDES deployments |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Malta product offering
Product offeringCore offering
Malta Inc. develops and deploys utility-scale, long-duration electro-thermal energy storage systems and ultra-high temperature (300-550°C) steam-based heat pumps. Its flagship Malta SEMS (Steam Energy Management and Storage) platform stores electricity as thermal energy in molten salt and reconverts it to dispatchable power and heat on demand, with a storage duration ranging from 8 hours to several days. The Malta AHP (Advanced Heat Pump) can be deployed standalone for industrial process heat applications or as the core charging technology within Malta SEMS.
Product overview
Malta Inc. offers two integrated product lines: the Malta Advanced Heat Pump (AHP) — an ultra-high temperature (300–550°C) steam-based heat pump for industrial heat electrification and waste heat recovery — and Malta SEMS (Steam Energy Management and Storage), the company's flagship utility-scale long-duration energy storage system that uses molten salt thermal storage to convert variable renewable electricity into on-demand power and heat. The Malta AHP can be deployed as a standalone industrial solution or as the core charging component of the Malta SEMS platform. The Malta-D commercial demonstration project (14 MWh(e), Puertollano, Spain) exemplifies the commercial deployment of the Malta SEMS technology.
Differentiator
Problem solved
Functional benefit
Brands
- Malta SEMS: Steam Energy Management and Storage - Malta's proprietary utility-scale long-duration energy storage solution that stores electricity as thermal energy in molten salt and reconverts it into power and heat on demand.
- Malta AHP
Products and services
- Malta SEMS (Steam Energy Management and Storage)
Quantifiable outcome
- Up to 90% round-trip efficiency with little-to-no degradation over 30+ year operational life
- +4 more outcomes
Companies that use Malta
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
Malta technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Malta partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, major and minor.
- ACWA PowercoreMoU signed at ACWA Power Innovation Days in Riyadh to evaluate, test, and deploy thermal energy storage across ACWA's global commercial project portfolio. Partnership includes pilot testing at an operating site with longer-term objective of enabling utility-scale deployments. ACWA is a global energy giant operating multi-billion-dollar projects across more than a dozen countries.
- Schmid PekintasmajorMoU to hybridize Schmid Pekintas's solar energy projects with Malta's LDES technology. Targets include co-development of Malta's storage with 540MW pre-licensed solar projects in Türkiye, plus 200-500 MW of storage deployment across South European countries and U.S. states including California, New Mexico, and Texas. Combined storage deployment target of up to 1GW over 5 years.
- German Aerospace Center (DLR)coreResearch partner in Store2REPower project funded by German Federal Ministry for Economic Affairs and Climate Protection (BMWK). DLR's Institute of Engineering Thermodynamics is expanding its TESIS test facility for thermal energy storage in molten salts to validate Alfa Laval heat exchangers. Project supports Germany's Paris Agreement climate targets and climate neutrality by 2045.
- Orlando Utilities Commission (OUC)majorCollaboration to explore deployment of Malta's long-duration energy storage plant at OUC's Indian River Plant in Brevard County, Florida. Project supports OUC's goal to achieve net-zero CO2 emissions by 2050.
- BechtelmajorStrategic collaboration to speed rollout of long-duration energy storage. Bechtel's deep understanding of Malta system components, broad footprint and customer base, and proven track record of delivering successful projects helps accelerate energy transition.
- NB PowermajorCollaboration towards development of New Brunswick's first long-duration energy storage project. Storage facility would be one of the largest of its kind worldwide, paving way for more zero-emissions power generation and more stable resilient grid.
- LDES CouncilminorMalta is an active member advancing the future of energy. LDES Council brings together companies working on long-duration storage solutions for grid reliability.
Scale indicators12 records
Recent moves7 records
Expansion highlights7 records
Malta competitors and assessment
Company assessmentDirect peers
- Energy Vault: Energy Vault develops utility-scale long-duration energy storage, including gravity-based and hybrid LDES solutions, competing head-to-head with Malta in the same utility and grid-services customer base.
- Form Energy: Form Energy is developing iron-air battery systems for 100+ hour grid storage, targeting the same long-duration utility-scale storage market as Malta with comparable customer types (investor-owned utilities, municipal utilities).
- Highview Power: Highview Power commercializes cryogenic liquid air energy storage (LAES) for long-duration grid storage and industrial applications, competing directly with Malta in utility-scale LDES and industrial decarbonization.
- Antora Energy: Antora Energy builds thermal energy storage and thermophotovoltaic systems for industrial decarbonization, targeting the same industrial heat decarbonization and grid storage use cases as Malta's AHP and SEMS platforms.
- Rondo Energy: Rondo Energy delivers industrial heat battery technology for high-temperature process heat decarbonization, directly overlapping with Malta's industrial AHP offering and serving similar industrial customers.
- Brenmiller Energy: Brenmiller Energy provides thermal energy storage systems (bCRUSITE-based TES) for industrial and utility applications, competing with Malta in industrial heat decarbonization and grid-scale storage.
Emerging players
- 1414 Degrees: 1414 Degrees develops molten salt thermal energy storage (TESS) for grid-scale storage and industrial process heat, sharing Malta's molten-salt TES technical approach but operating at smaller scale and primarily in Australia.
- Polar Night Energy: Polar Night Energy builds sand/sorbent-based thermal energy storage for district heating and industrial applications, addressing overlapping industrial heat and grid storage use cases as Malta but with a different storage medium.
Broad incumbents
- Siemens Energy: Siemens Energy is a global incumbent in power generation, grid technology, and turbomachinery, an investor and technology partner in Malta. As a broad incumbent, it supplies turbines and grid services that compete with and complement Malta's storage offering across utility and industrial customers.
- Wärtsilä: Wärtsilä provides flexible engine power plants and energy storage solutions globally, competing with Malta in replacing fossil peaker plants and providing grid services, though it does not specialize in thermal LDES at utility scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Malta social profiles
Digital presenceMalta financial estimates
Financial estimateRevenue estimate
Valuation estimate
Malta leadership team
Management profileNumber of profiles
Profiles9 records
Malta subsidiaries and ownership
Company hierarchySubsidiaries3 records
Malta funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Malta M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Malta
What does Malta do?
Malta Inc. develops and deploys utility-scale, long-duration electro-thermal energy storage systems and ultra-high temperature (300-550°C) steam-based heat pumps. Its flagship Malta SEMS (Steam Energy Management and Storage) platform stores electricity as thermal energy in molten salt and reconverts it to dispatchable power and heat on demand, with a storage duration ranging from 8 hours to several days. The Malta AHP (Advanced Heat Pump) can be deployed standalone for industrial process heat applications or as the core charging technology within Malta SEMS.
Is Malta a public or private company?
Malta is a private company. It is classified as venture growth investor backed and is currently operating.
When was Malta founded?
Malta was founded in 2018. It employs 11 to 50 people.
Where is Malta based?
Malta is headquartered in Cambridge, United States, in the North America region.
How does Malta make money?
Three revenue lines are on record. Utility-Scale Energy Storage Projects are the primary driver. The others are industrial Heat Electrification and grid Services and Storage Capacity Contracts.
Who are Malta's main competitors?
Direct peers on record are Energy Vault, Form Energy, Highview Power, Antora Energy, Rondo Energy and Brenmiller Energy. Emerging players are 1414 Degrees and Polar Night Energy. Broad incumbents are Siemens Energy and Wärtsilä.
Does Malta have an API?
No public API is recorded for Malta.
What industry is Malta in?
Malta's product category is Long-Duration Energy Storage Systems. Its primary akta.pro industry code is EUAFANAB, Molten Salt Thermal Storage (CSP & High-Temperature Heat), with a secondary code of EUAFANAI, Industrial Process Heat TES (Steam, Kilns, Furnaces, Waste-Heat Coupling). Its NAICS code is 333414 and its SIC code is 4991.