January 28th, 2026 – Riyadh, Kingdom of Saudi Arabia– ACWA, a global energy giant, operating multi-billion-dollar projects across more than a dozen countries and ranking among the world’s largest developers of renewable energy, desalination, and power generation assets, and Malta Inc., an innovator specializing in heat electrification and long-duration energy storage solutions, today announced the signing of a Memorandum of Understanding (MoU) establishing a structured collaboration to evaluate, test, and deploy thermal energy storage across ACWA’s global commercial project portfolio.
The agreement was formalized during a VIP signing ceremony at ACWA Power Innovation Days in Riyadh, reflecting the growing role of long-duration energy storage in large-scale, reliability-driven power systems.
Under the MoU, ACWA and Malta Inc. will work through defined use cases across ACWA’s global portfolio, including pilot testing at an operating site, with the longer-term objective of enabling utility-scale deployments.
For Malta Inc., this partnership represents another step in moving from technology validation to commercial execution with globally scaled asset owners and operators.
About Malta Inc.
Malta Inc. has developed a steam-based high-temperature heat-pump that can be deployed as a standalone system or as the foundation of its proprietary, utility-scale long-duration energy storage solution, Malta SEMS. Using proven subsystems, a locally sourced supply chain, and abundantly available materials like salt, the system delivers economical, clean energy with a flexible power and heat delivery mix without geological constraints.
Malta SEMS stores electricity as thermal energy in molten salt and reconverts it into power and heat on demand. The system provides a flexible, cost-effective solution for storing energy from 8 hours to several days at grid scale, helping decarbonize hard-to-abate sectors while supporting grid reliability.
Malta Inc. is backed by Cox Energy, Breakthrough Energy Ventures, X (Alphabet), Siemens Energy Ventures, Alfa Laval, Proman, Chevron Technology Ventures, and other leading investors committed to scaling sustainable energy solutions.