Thermal energy storage (TES) systems are key components for concentrated solar power plants to improve their dispatchability and for shifting the energy production efficiently to high revenue periods. The commercial state of the art is the molten salt two tank storage technology. However, this TES confronts some issues like freezing and decomposition, which require continued technical attention. Furthermore, the molten salt itself is very expensive compared to other storage materials. A TES option that possesses a high cost reduction potential and the ability to increase the whole power plant efficiency is the regenerator-type energy storage. Here, a packed bed inventory of waste metallurgical slag from electric arc furnace (EAF) can achieve further cost reduction. Despite previous studies regarding the use of steelmaking slag as an inventory material for thermal energy storages, there are still basic questions to be answered. This work presents experimental thermal performance and thermo-structural stability studies of slag-based TES, obtained during the European project REslag. The EAF slag and different insulation options were tested for their thermomechanical strength in a uniaxial compression test rig. The thermal cyclic behavior was investigated in a pilot TES plant with temperatures up to 700 °C. The experimental results confirm the suitability of steelmaking slag as thermal energy storage inventory material. Furthermore, a comparison of experimental and simulation model results shows an agreement of over 90%.