Malta heats up with $50m series B

Feb 25, 2021 • Jordan Williams

Proman led a series B round for the energy storage system developer that also featured existing corporate investor Alfa Laval.

US-based energy storage technology developer Malta received $50m yesterday in a series B round led by natural gas product producer Proman that also featured industrial product manufacturer Alfa Laval.

Cleantech investment fund Breakthrough Energy Ventures and private investor Dustin Moskovitz also took part in the round. The company had raised $26m in a 2018 series A round led by Breakthrough Energy Ventures that included Alfa Laval and renewable energy producer Concord New Energy.

Malta’s pumped heat energy storage technology…

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