Malta has developed a unique solution for energy storage that enhances reliability on the grid. They are building a new type of electro-thermal energy storage system that can collect and store energy from any source (i.e. wind, sun, or fossil fuels), in any location and for long durations, and dispatch it as electricity on demand. The concept was incubated at X, formerly known as Google X, and spun out as an independent company in 2018. The Malta SR provides synchronous electricity generation, flexible heat supply, and integrates with existing steam cycles, in both electrical and industrial plants. Malta has announced its first offtake agreement with BBVA for a project in Iberia.