Trafigura Group Pte Ltd invests in long-term energy storage innovator Malta Inc.

Cambridge, Massachusetts and Geneva, June 13, 2022 – Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a global commodity market leader, has invested in Malta Inc., a leading innovator in long-term, grid-scale energy storage. Malta’s new technology collects and stores energy from any power generation source at any location, enabling reliable and predictable grid operation.

Trafigura completed the transaction as part of the company’s strategy to invest in emerging renewable and clean energy technologies, providing capital and market expertise to accelerate commercial availability. To date, the company has made eight investments in three technology areas, investing more than $30 million in hydrogen and hydrogen-based fuels, medium- and long-term electricity storage, and capture and storage. use of broadcasts.

“Trafigura’s investment in Malta is another demonstration of how its business is evolving in response to the ongoing energy transition,” said Al Morales, chief financial officer of Malta Inc. “Malta is striving to accelerate the transition to a low-carbon economy, and our technology is uniquely suited to help industry adapt quickly to changing market needs. We are delighted to add Trafigura to our list of industry-leading partners in this venture. »

“We believe the Maltese system has the potential to unlock a wealth of clean, inexpensive energy to meet global energy demand,” said Julien Rolland, head of energy and renewables at Trafigura. “With a strong portfolio of projects in North America and Europe, our investment in Malta Inc. has the potential to create strong synergies with our growing electricity trading business in particular.”

Based in Cambridge, Massachusetts, Malta, Inc. has developed a Pumped Thermal Energy Storage (PHES) system to provide long-term, large-scale, cost-effective and safe energy storage. The Maltese system stores electricity as thermal energy and then regenerates it on demand for up to 200 hours, meeting daily and weekly needs. Malta’s PHES system also generates clean heat for industrial and district heating applications.

ENDS

For more information, please contact:
Malta Inc. Press Office: Steve Sullivan, +1 518.441.7272 or [email protected]
Trafigura Press Office: +41 (0) 22 592 4528 or [email protected]

Notes to Editors

About Malta Inc.
Based in Cambridge, Massachusetts, Malta, Inc. has developed a Pumped Thermal Energy Storage (PHES) system to provide long-term, large-scale, cost-effective and safe energy storage. The Maltese system stores electricity as thermal energy and then regenerates it on demand for up to 200 hours, meeting daily and weekly needs. Malta’s PHES system also generates clean heat for industrial and district heating applications.

Visit: www.maltainc.com

About Trafigura
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. At the heart of global sourcing, Trafigura connects the world to the vital resources it needs. Through our Oil & Petroleum Products, Metals & Minerals, and Power & Renewables divisions, we deploy infrastructure, skills and a global network to move raw materials from where they are abundant to where they are most needed. needed, building strong relationships that make supply chains more efficient. , safe and durable.

Trafigura also owns and operates a number of industrial assets, including a majority stake in global multi-metals producer Nyrstar and fuel storage and distribution company Puma Energy; and joint ventures Impala Terminals, a provider of port and logistics services, and Nala Renewables, a power and renewable energy investment and development platform. Trafigura is employee-owned and employs more than 13,000 people working in 48 countries.

Visit: www.trafigura.com