Bill Gates And Jeff Bezos Invest $26 Millions On Green Energy Plan

While Google has always focused on customer service and the AI sector in today's technology business, its parent company, Alphabet, has many other concerns. One of X's newest projects is a new independent company called Malta Inc. The company uses cheap and abundant raw materials including steel, salt, air, and anti-freeze to store electricity at grid scale and produce green energy. This new stockpiling framework is a revolution that is somewhat similar to Tesla Powerpacks.

So far, Malta has only come up with an idea which currently needs to be thoroughly looked into. Moreover, a model for this idea is also required. However, despite this, the project has also attracted some huge investments.

Malta has built a thermodynamic storage system to store inexhaustible and fossil vitality as molten salt heated in high temperature and liquid chilled in low temperature for many days or weeks till it is needed. Since you may at present need power around evening time when there is no sunlight or wind, this energy storage system can provide you with enough electricity.

Currently, the organization is dealing with a pilot plant, using large boxes of hot molten salts and coolants to preserve green energy. From the first round of funding, the company received $26 million from Bill Gates, Softbank's Masayoshi Son, Jeff Bezos, Ray Dalio, and billionaire Michael Bloomberg. In fact, we do not know where this project will go and whether it will succeed or not. But energy storage is a big thing nowadays providing opportunities for cutting down on electricity and waste costs. It likewise helps sustainable power source organizations discover the data transfer capacity to create more vitality.

Companies and technology billionaires are willing to take risks and make long-term investments to make it more commercially viable and technologically feasible.