Though Google is forced on the consumer and AI sectors in the tech business, it's parent company Alphabet has a lot of other concerns.
Like it's secretive X, a lab which regularly entertains moonshot ideas, one that now has major investors.
One of X's latest projects surrounds a newly independent company named Malta Inc. It's work revolves around a revolutionary new energy storage system, much like Tesla Powerpacks technology. Malta only has an idea so far, one it still needs to tweak and build a prototype for, but it's already raised big money.
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The company has managed to raise $26 million in a funding round led by Breakthrough Energy Ventures LLC. It's an investment fund that counts tech giants like Jeff Bezos, Michael Bloomberg, Masayoshi Son (SoftBank CEO) and Ray Dalio (billionaire and hedge fund manager) as members. Heck, freaking Bill Gates is the fund's chairman, so you know it's the real deal.
The fresh capital will help Malta further develop its storage system, which makes use of large vats of molten salt and coolant to store green energy. To be fair, the system isn't a sure thing just yet.
However, the added funds allow the company to take a risk in developing their technology to see for sure, and will go a long way towards making it commercially viable if that's the case.