Pruner’s addition to the board also makes Malta the first LDES company in the world with women representing a majority of voting Board members. She joins Swaminathan, Jeannine Sargent of Breakthrough Energy Ventures, Alex Syed of Alfa Laval, and Steve Hirsh of Proman.

S&P Global highlights how surging demand for lithium‑ion batteries—driven by electric vehicles and grid decarbonization—is straining supply and accelerating the search for alternative energy storage technologies. Malta Inc. is featured among a growing wave of innovators tackling this challenge, as part of the industry’s push toward long‑duration solutions.

Malta Iberia Pumped Heat Electricity Storage S.L.U. (Malta Iberia), a European affiliate of Malta Inc., has been granted a Innovation Fund Project Development Assistance Agreement by the European Commission and the European Investment Bank to pursue a 100 MW energy storage facility in Spain. Malta Iberia was selected among hundreds of applicants by the European Innovation Fund for its Sun2Store project.

“Teaming up with Bechtel is a perfect fit for Malta,” said Al Morales, Chief Financial Officer of Malta. “Bechtel’s deep understanding of the Malta system’s components, broad footprint and customer base, and proven track record of delivering successful projects will help Malta to speed and smooth the energy transition.”

Storage facility would be one of the largest of its kind worldwide, paving the way for more zero-emissions power generation and a more stable and resilient grid.

Appointment adds critical voice for long duration energy storage.

Malta Inc. 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.