CAMBRIDGE, Mass., December 01, 2021--(BUSINESS WIRE)--Malta Inc., a leading developer of grid-scale, long-duration energy storage and Bechtel Corporation, one of the world’s most respected engineering, construction, and project management companies, today announced they are teaming up to pursue new energy storage projects around the world. The companies will work together to develop and deploy Malta’s 10-150+ hour energy storage technology in a variety of grid-scale applications.
"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."
Working together, Bechtel and Malta intend to identify and seize opportunities to deploy long-duration energy storage plants that store electricity for days or weeks – converting intermittent power from sun and wind into reliable, on-demand, baseload power. The ambition is to leverage the Malta system to produce carbon-free electricity to decarbonize industrial, agricultural, building, and other sectors.
"We are delighted to be collaborating with Malta to advance the deployment of its innovative and scalable storage solution that will enable the continued global expansion of renewable energy generation portfolios. The lack of long-duration energy storage solutions remains a key challenge for the renewable energy industry," said Bechtel’s renewables sector lead Scott Austin. "There is no silver bullet for decarbonization, and Bechtel is committed to leveraging our engineering and construction expertise to support the rapid advancement of technology solutions that can meaningfully advance the transition to a net zero environment."
The collaboration will focus on near-term actions to jointly develop a portfolio of long-duration energy storage projects. The team’s aim will be guided by the Malta system’s key attributes:
Portfolio Integration: The Malta system can firm and integrate variable renewable energy into existing generation portfolios, enabling the addition of vastly more solar and wind power and easing utilities’ pathways to meet decarbonization goals and mandates.
Repurposing Fossil Assets: The Malta system can be integrated with retiring fossil-fueled assets, like coal-fired plants, to reuse existing infrastructure, prevent job losses, and preserve the tax base of local communities.
Clean Economic Hubs: The Malta system can serve as a clean power and heat hub to provide clean energy for existing C&I businesses and districts, enable economic development, and attract new business investment from the digital, agricultural, and industrial sectors.
Storage as Transmission: The Malta system can be installed on the transmission system to optimize existing infrastructure and dramatically increase the efficiency of new investments.
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Energy; Infrastructure; Nuclear, Security & Environmental; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com
Malta represents the future of energy storage. With its grid-scale solutions that can store energy up to 50x longer than typical battery technology, Malta is enabling renewable energy to be used more efficiently and effectively, enhancing grid reliability and resilience, and expediting the transition to a clean energy future. Incubated at X, the Moonshot Factory (formerly Google [X]), the company is backed by energy industry leaders Alfa Laval, Proman, and Chevron Technology Ventures, as well as investors Breakthrough Energy Ventures and Piva Capital. Malta is based in Cambridge, Massachusetts. For more information visit www.maltainc.com.
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