Middlesex, MA – According to filings with the U.S. Securities and Exchange Commission, Malta Inc. is raising $60,899,997.00 in new funding. Sources indicate as part of senior management President and Chief Executive Officer, Ramya Swaminathan played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Malta Inc.
Malta is building a new type of electro-thermal energy storage system that can collect and store energy from any source (i.e. wind, sun, or fossil fuels), in any location and for long durations, and dispatch it as electricity on demand. The Malta concept is built upon well-established principles in thermodynamics for a system that stores energy as heat (in molten salt) and as cold (in a chilled liquid). The project was incubated at X, Alphabets Moonshot Factory, which applies audacious thinking and radical new technologies to solve the worlds most challenging problems. Based on the research they’d seen, X identified the Malta system as a product that had the potential to unlock a wealth of inexpensive clean energy to address global energy demands. Xs team designed individual system components and evaluated whether the concept could work in the real world at a competitive price-point. The next two years were spent incubating the concept with a focus on derisking the most challenging concepts first. When it became clear that the technology had potential to be commercially viable at grid scale, Malta was formed outside of Alphabet as its own independent company.

To learn more about Malta Inc., visit http://www.maltainc.com/

Contact:
Ramya Swaminathan, President and Chief Executive Officer
603-315-0618
ramya.swaminathan@maltainc.com
https://www.linkedin.com/in/ramya-swaminathan-6a52a8b/

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