Trafigura Group, one of the largest physical commodities trading groups in the world, has invested in Malta Inc., an innovator of grid-scale, long-duration energy storage.
Malta has developed a pumped heat energy storage (PHES) system that collects and stores energy from any power generation source in any location, enabling reliable and predictable operation of the grid. Malta’s system stores electricity as thermal energy and then regenerates the electricity on demand for up to 200 hours. The system also generates clean heat for industrial and district heating applications.
Trafigura’s investment is part of a strategy to invest in emerging renewable and clean energy technologies. To date, the company has made eight investments in three technology areas, investing more than $30 million in hydrogen and hydrogen-based fuels, medium- to long-term electricity storage, and emissions capture and utilization.
“Trafigura’s investment in Malta is another demonstra