Alphabet Inc.’s secretive X moonshot laboratory is spinning off an energy-storage project with backing from billionaires including Jeff Bezos and Bill Gates.
Malta Inc., the newly independent company, raised $26 million led by Breakthrough Energy Ventures LLC, a fund that counts Bezos, Masayoshi Son and Ray Dalio among its investors.
Michael Bloomberg is also a Breakthrough investor and Gates is chairman. Bloomberg Environment is operated by entities controlled by Michael Bloomberg.
Other Malta backers include Hong Kong-based Concord New Energy Group Ltd., a wind and solar power developer, and Alfa Laval AB, a Swedish industrial company, X said on Dec. ...