Participated · Series B · Oct 2022

Liquid Wind is a Gothenburg-headquartered developer of eFuel production plants designed to supply carbon-neutral eMethanol to shipping, aviation and chemical customers. Its facilities pair renewable-powered electrolysis with captured biogenic CO₂ to create eMethanol, enabling significant CO₂ emission reductions; the planned Örnsköldsvik plant will combine 150,000 tons of CO₂ with green hydrogen to deliver 100,000 tons of eMethanol and avoid 200,000 tons of CO₂e annually. The company counts roughly 70 employees and is working toward a pipeline of 10 projects by 2027 across Sweden, Denmark and Finland. Liquid Wind’s investor base includes industrial and strategic backers such as Alfa Laval, Carbon Clean, Elyse Energy, HYCAP, Samsung Ventures, Siemens Energy, Topsoe and Uniper. The firm integrates its eFuel plants with existing bio-powered combined heat and power (CHP) stations to maximize efficiency and circularity. Recent non-dilutive financing, including a €3.6 million grant from the Swedish Energy Agency, is helping fund pre-engineering of its first full-scale facility. This support underscores the company’s alignment with national and EU green-transition programs and strengthens its appeal to future commercial investors and offtakers.

Participated · Series B · Aug 2021

Malta has developed a Pumped Heat Energy Storage (PHES) system that converts electricity into stored thermal energy to provide long-duration, large-scale, cost-effective, and safe energy storage. The technology can efficiently store up to 200 hours of energy and satisfy daily or weekly load cycles, and it can also provide heat for industrial and district heating applications. Malta was spun out of X, the Moonshot Factory, and is based in Cambridge, Massachusetts. The company has partnered with Siemens Energy to develop heat pump and heat engine components for a utility-scale 100MW system designed for 10–200 hours of storage and further scaling to the GW range. Malta plans to develop its first 100MW long-duration storage project in the 2024–2025 timeframe and reports a pipeline of projects in North America, Europe, and the Middle East. The company recently closed an oversubscribed Series B round increased to over $60 million to advance its commercialization strategy. Malta Inc. develops an electro-thermal energy storage system that captures electricity, drives a heat pump to convert it into thermal energy, and stores heat in molten salt and cold in a chilled antifreeze liquid. The stored thermal energy is converted back to electricity via a heat engine when the grid needs power. Malta says its system can store electricity for days or even weeks, longer than lithium‑ion batteries. The company originated as Project Malta at Alphabet’s X and has since spun out as an independent company. Malta plans to use recent funding to work with industry partners to turn designs developed at X into industrial‑grade machinery for its first pilot system. The company’s core product targets full‑scale power grid storage and grid reliability applications.