Storage Drop

Renewable Energy Storage Solutions

Energy Tech
Public on TASE on Mar, 2021<br>

Company Overview

Snapshot

Founded in December 2020 by Shay Cohen, Storage Drop operates with 1–10 employees. The company has raised $2.09M across two funding rounds, with Doral Energy-Tech Ventures participating. A key milestone for the company was its listing on the TASE in March 2021 through a merger.

Business overview

Storage Drop specializes in developing advanced technology for long-duration renewable energy storage, focusing on solutions that bridge the gap between energy availability from natural resources and its consumption. The company's cost-effective renewable energy storage systems aim to maximize profitability for solar and wind producers, as well as HVAC applications. Storage Drop is developing an underground vessel for high-pressure, large-volume compressed-air energy storage for renewable installations and HVAC thermal energy storage for cooling and air conditioning in buildings. It operates within the Energy Tech sector, serving markets in the United States, Israel, and Europe.

Strategic signal

In March 2024, Storage Drop secured a grant from Horizon Europe to develop innovative cooling systems. This grant signals significant external validation for the company's technological approach and its potential to contribute to energy efficiency and sustainable cooling solutions, indicating a strategic focus on expanding its product applications within the European market.

Company Intelligence Q&A

When was Storage Drop founded?
Storage Drop was founded in December 2020.
What was a significant corporate milestone for Storage Drop?
In March 2021, Storage Drop listed on the TASE through a merger with Medivie Therapeutic.
Has Storage Drop received any grants recently?
In March 2024, Storage Drop received a grant from Horizon Europe to develop innovative cooling systems.
Who is the founder of Storage Drop?
Shay Cohen is the Founder & CEO of Storage Drop.
What is Storage Drop's primary focus in renewable energy?
Storage Drop focuses on developing advanced technology for long-duration renewable energy storage, particularly compressed-air energy storage for renewable installations and HVAC thermal energy storage.

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