Malta

Malta Inc. develops pumped heat energy storage, which turns electricity into heat stored in molten salt and cold stored in a chilled liquid, then converts it back to electricity with a heat engine. It also makes a steam-based high-temperature industrial heat pump for electrifying process heat. The company was spun out of Alphabet's X in 2018.

Energy & climateThermal energy storage and industrial heat pumpsCambridge, United States
Total raised
$76M
Last round · Sep 2026
Strategic investment (Kobe Steel)
Founded
2018

Funding rounds

DateRound · leadRaised
Sep 14, 2026Strategic investment (Kobe Steel) · Kobe Steel—
Oct 2024Strategic investment (Cox) · Cox Energy—
Nov 29, 2023Venture round (Siemens Energy Ventures, Alfa Laval) · Alfa Laval, Siemens Energy Ventures—
Aug 25, 2021Series B extension—
Feb 24, 2021Series B · Proman$50M
Dec 19, 2018Series A · Breakthrough Energy Ventures$26M

Team

  • Philippe Delleville
    President and CEO
Malta | Venture Place