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 and holds one patent. In March 2021, Storage Drop became public on TASE through a merger with Medivie Therapeutic.
Business overview
Storage Drop develops advanced technology for long-duration renewable energy storage, focusing on solutions that bridge the gap between energy availability from natural resources and consumption time. The company's cost-effective renewable energy storage systems aim to maximize profitability for solar and wind producers and HVAC applications. Storage Drop is developing an underground vessel for high-pressure, large-volume compressed-air energy storage for renewable energy installations and HVAC thermal energy storage for cooling and air conditioning in buildings. The company operates within the Energy Tech sector, specifically in Energy Management & Grid Integration, Climate Tech, Clean Industry Tech, Eco-Efficient Manufacturing, Energy Transition, and Eco-Efficient Energy Storage.
Strategic signal
In March 2024, Storage Drop secured a grant from Horizon Europe to develop innovative cooling systems. This grant validates the company's technological approach in thermal energy storage and signals a strategic expansion into advanced HVAC applications, potentially opening new market opportunities beyond traditional renewable energy storage.
Log in to access full profile ›Company Intelligence Q&A
- When did Storage Drop become a public company?
- Storage Drop became public on TASE in March 2021 through a merger with Medivie Therapeutic.
- What significant grant did Storage Drop receive in March 2024?
- In March 2024, Storage Drop received a grant from Horizon Europe to develop innovative cooling systems.
- What was a key partnership announced in June 2023?
- In June 2023, Storage Drop signed an agreement with Tnuva, which led to a 15% increase in the company's stock.
- What was the outcome of Storage Drop's application for funding from the Israel Innovation Authority and the European Union in December 2023?
- In December 2023, Storage Drop did not receive the requested funding from the Israel Innovation Authority and the European Union.
- What pilot project did Storage Drop and Toyota establish in January 2024?
- In January 2024, Storage Drop and Toyota established a pilot facility for fast charging of electric vehicles.