Power Grid, Energy - Bloomberg - Key Takeaway: *The money will help Malta further develop a system that uses large vats of molten salt and cooler liquid to store electricity generated from variable sources such as solar and wind.*
The startup likely will need additional funds to build a full facility, according to Chief Executive Officer Ramya Swaminathan. Malta’s system can be located almost anywhere, including near solar panel arrays and wind turbines, and it has the potential to last longer than lithium-ion batteries, Swaminathan said. The company would consider China among the possible places where it would locate a pilot project, she added.