Malta Inc. was recently recognized in TIME’s World’s Top GreenTech Companies 2025 and America’s Top GreenTech Companies 2025. Could you explain how its energy storage solution works?
At the heart of our technology is what we call the Malta steam salt battery. It uses an efficient heat pump with a COP above 1.6 to bring molten salt to a very high temperature, storing energy in the form of heat. When needed, we can dispatch this energy in the form of electricity or heat to our customers. The system can be charged with cheap renewable electricity or waste heat available at the installation site – with applications in, for example, green district heating. We can calibrate the power or heat dispatch to the customer’s exact needs, whether it is for a specific day or season.
How does the longevity of Malta Inc.'s energy storage solution compare to others in the market?
The sweet spot for Malta technology is 8 to 24 hours, though we can extend this if needed. This range aligns with the growing need for storage during the energy transition. Our system is designed to last up to 30 years with minimal maintenance.
We are also seeing progress in other technologies like pumped hydro and compressed air, but their geological limitations and infrastructure requirements make them less flexible than our solution. Green hydrogen, while promising, is likely suited for backup fuel in seasonal or extreme weather conditions.
How long has molten salt technology been around and what differentiates Malta Inc.’s implementation?
Molten salt technology has been around for about 15 years, primarily used in the concentrated solar power (CSP) industry. Malta Inc. uses this existing technology but focuses on integrating it with a unique heat pump system. It relies on turbo machinery, which is similar to what you would find in a gas or steam plant, and molten salt tanks, commonly used in concentrated solar power plants. These components, along with basic materials like concrete and steel, are locally available. The main innovation in our design lies in how we combine the components into one efficient and scalable solution.
What is Malta Inc. technology’s value proposition in terms of energy market economics?
We are designing our system with a simple equation in mind: we will pay a fair price for 8 to 12 hours of renewable energy when it is available. For the remaining 12 to 16 hours, we and other long-duration technologies will cover the gap. The price has to be as competitive, or more so, than what people are paying today.
Ultimately, it is an economic challenge. If we can achieve energy independence, maintain competitiveness, and decarbonize, we will succeed. The technologies that will win in the end are those that, when combined, are the most competitive, and that is the direction we are heading as a company.
What additional support for grid stability does Malta’s system provide?
Malta’s system offers synchronous inertia due to the use of standard turbo machinery, which ensures the power delivered has a high quality. This feature is absent in inverter-based technologies, giving our system an edge in maintaining grid stability.
Additionally, the system provides load-following capabilities, which allow it to adjust power output based on demand. In essence, a Malta plant functions similarly to a combined cycle plant, but without burning any fuel.
What key regulatory frameworks shape the engagement of storage companies with energy companies, and are you satisfied with those frameworks?
The regulatory landscape varies greatly from one region to another. Looking back 15-20 years, many countries prioritized wind and solar energy primarily because their fuel is free, and governments wanted to scale up these technologies. Mechanisms were introduced to cover the green premium, allowing solar and wind energy to become competitive. We need similar support mechanisms for long-duration energy storage, which is still a new technology.
The current phase of the energy transition includes a focus on energy independence, especially highlighted by global events like the war in Ukraine. Governments are keen on ensuring energy self-sufficiency, with industrial competitiveness and decarbonization following closely behind. Malta’s use of conventional equipment that is locally available makes it an attractive option for achieving energy independence, and we need support to scale and become competitive while maintaining low costs.
In which regions do you see examples of competitive, sovereign, and reliable renewable energy markets?
Renewable energy is developing well in many regions globally. Countries with good resources like Canada and the Nordic countries have done great things with hydro. Australia seems to be making strides in renewable energy. Morocco is also impressive, and the Middle East, with its natural resources and excellent wind and solar potential, is set to lead the energy transition. China is particularly interesting, as they are developing expertise in molten salt. They are also aware of the need for synchronous inertia, which aligns with Malta’s vision. So, there is much to be optimistic about globally.
What is the most critical barrier Malta Inc. needs to overcome for its next stage of expansion?
The biggest challenge is building confidence among key stakeholders. Our upcoming demonstrator project will be critical to retiring the technical risk in the minds of engineering, procurement, and construction companies (EPCs) who will build our plants. We also need to reassure financing institutions that the technology is reliable and can be financed traditionally. Local grid operators must trust that our system will respond to their needs, and future customers need to be confident that they can make a profit running Malta plants. I am confident because we are using conventional components. It is just a matter of proving that it works and then moving on to the next level.
