$ cat ./records/breakthrough-energy-ventures-leads-26-million-series-a-for-malta--2018.txt
Breakthrough Energy Ventures Leads $26 Million Series A for Malta Inc. Molten-Salt Thermal Energy Storage
[RECORD.TXT] · cat --full
In December 2018, Breakthrough Energy Ventures led a $26 million Series A for Malta Inc. as it spun out of Alphabet's X moonshot laboratory. Malta's technology stores electricity as heat in giant tanks of molten salt at 565°C and cold in antifreeze fluid, enabling multi-day renewable energy storage at projected costs far below lithium-ion systems. Additional investors included Alfa Laval and Concord New Energy Group; Malta subsequently raised a $50 million Series B with continued BEV participation.
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Gates-Backed Commonwealth Fusion Installs Its First Magnet, Racing Toward 2026 'First Plasma'
Commonwealth Fusion Systems — backed by Bill Gates's Breakthrough Energy — hit a major hardware milestone heading into 2026, installing the first of 18 powerful high-temperature superconducting magnets in its SPARC tokamak near Boston. CFS is racing to achieve 'first plasma' in 2026 and net energy gain in 2027, aiming to prove that commercial fusion power is possible. It is among several fusion ventures Gates has funded in his long search for an 'energy miracle' to fight climate change.
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