Pumped heat energy storage company Malta Inc. and New Brunswick, Canada, based NB Power are in the early stages to advance a 1,000 MWh long-duration energy storage facilities in the province. While still in the planning and development stage, the facility is targeted to be in service in 2024.
The plant also would produce heat as a byproduct that can be used in a number of commercial, industrial, and district energy operations.
Malta’s technology is a Pumped Heat Energy Storage (PHES) system. Its approach uses thermodynamic systems to provide long-duration, large-scale energy storage by converting electricity from any source to be stored as thermal energy.
Around 80% of the NB Power’s generation mix is considered to be non-emitting.
Launched at X, the Moonshot Factory (formerly Google [X]), Malta is backed by energy industry leaders Alfal Laval, Proman, and Chevron Technology Ventures, as well as investors Breakthrough Energy Ventures and Piva Capital. Malta is based in Cambridge, Massachusetts.
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