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Chevron Technology Ventures and Piva Capital Back Malta to Meet the Growing Demand for Long-Duration Energy Storage

BusinessWire reports that Chevron Technology Ventures and Piva Capital have financially backed Malta.

The C3 Take
  • Long duration energy storage startup Malta has now received $60 million in funding from Chevron Technology Ventures, Piva Capital, Breakthrough Energy Ventures, Proman, Alfa Laval, and Facebook co-founder Dustin Moskovitz.
  • Malta’s innovative approach to long duration storage converts electricity from any source to be stored as thermal energy, storing up to 200 hours worth of energy for daily or weekly load cycles.
  • Innovative startups and free markets are producing the technologies needed to deploy more clean energy and reduce emissions.

“Malta Inc., a pioneer in long-duration energy storage, today announced that Chevron Technology Ventures and Piva Capital have joined Proman, Alfa Laval, Breakthrough Energy Ventures, and Dustin Moskovitz in its oversubscribed Series B financing, increasing the round to over $60 million. The new capital will be used to advance the company’s commercialization strategy.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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