Storage Drop Overview
Storage Drop develops advanced technology for long-duration renewable energy storage, with a focus on storage solutions that bridge the gap between the availability of energy from natural resources and the time that it is used. The company’s cost-effective renewable energy storage systems are designed to maximize profitability for solar and wind producers and HVAC applications. Storage Drop is developing an underground vessel created for high pressure and large volumes that will function as compressed-air energy storage for producing electricity in renewable energy installations such as photovoltaic fields, as well as HVAC thermal energy storage for supplying buildings with cooling and air conditioning.
Cumulative Funding Raised Over Time ($)
$1.0MDec 2021
Latest News
growth-positive
Storage Drop wins EU grant for cooling systems
Storage Drop has been awarded a €1 million grant from the EU funding program - HORIZON to develop an innovative cooling system. The total grant of €2.5 million will be shared with the Technion-Israel Institute of Technology, Spain’s University of Rovira I Virgili (URV), the French Research Institute CNRS Promes, UCA, AristEng process engineering, and the Spanish strategic company - Inveniam Group. The cooling system will be powered by solar panels and will use clean elements like water and CO2. The company expects the construction of the system to take around 12 months.
InvestmentPartners
growth-positive
מענק של 2.5 מיליון אירו: זו החברה הישראלית שמרוויחה בענק
Storj Drop, an Israeli company, has won a grant from the European Union for its Clean and efficient cooling program. The grant, amounting to 2.5 million euros, will be shared with Technion in Haifa, URV Spain University, French research institute Promes, international company Iberia Energies Technip, and Spanish strategy company Inveniam Group. The funding will be used for the development, planning, and testing of a new cooling system that operates at low temperatures, powered by a solar panel. The system is expected to be more efficient and environmentally friendly than conventional cooling systems.
InvestmentPartners
growth-positive
סטורג` דרופ תקבל מענק של של כ-700 אלף ש"ח עבור הקמת פרויקט אספקת אוויר דחוס
Israeli company Storage Drop has received approval for a grant from the Innovation Authority for a project to establish and operate a compressed air supply facility. The approved budget for the project is approximately 2.3 million NIS for 9 months, with the Innovation Authoritys participation standing at about 700,000 NIS. The grant will be given subject to meeting the authoritys conditions, which include proving the ability to finance a complementary amount of 1.8 million NIS by the end of March 2024. The company has already presented financing of 1.25 million NIS and is expected to raise the remaining financing soon.
InvestmentPartners
Growth-Positive
סטורג' דרופ וטויוטה יקימו מתקן פיילוט לטעינה מהירה של מכוניות חשמליות
Storeg Drop, a company that develops energy storage systems using compressed air during off-peak energy consumption hours, has received approval from Aisin of the Toyota Group to start a joint pilot at Aisins test site in Japan. This follows the successful testing of a similar energy storage facility that Storeg Drop set up at the port of Ashdod. The news led to a 4.75% increase in Storeg Drops share price.
PartnersExpand
growth-negative
אכזבה לסטורג’דרופ: לא קיבלה מימון מרשות החדשנות והאיחוד האירופי
StorjDrop, a company that entered the stock market in March 2021 through a merger with Medivie, has been denied funding by the Innovation Authority and the European Union (EU Funding Programme HORIZON). The company, which develops energy storage systems using compressed air and systems for compressing air using water pistons, has been erasing tens of percentages for investors since it was issued. The company intends to reapply for funding as soon as possible.
Investment
| Sector | Energy Tech |
Funding
| Total funding | $2.09M |
| Last funding | $1.09M |
| Stage | Public |
| Rounds | 2 |
| Investors | 1 |
Team Members
1
Employees: 1-10
Web & Social Links
| Website | storagedrop.co.il/ |
Locations
Eli Horovitz Street 11, Rehovot, Israel
Sderot Giborei Israel 10, Netanya, Israel
Photos & Videos
No files yet
Storage Drop Business
Business models
B2B
Product stage
Beta
Employees
1-10
Sector
Energy TechEnergy Management & Grid IntegrationClimate TechClean Industry Tech Eco-Efficient ManufacturingEnergy TransitionEco-Efficient Energy StorageTarget Customer
Industrial ManufacturingHybrid IndustriesFood & BeveragesMiningEnergy, Utilities & Waste ManagementRenewable Energy SystemsWaterWindCore Technology
—Tags (7)
alternative-storagehvacclimate-techenergytechenergy-efficiencyenergy-storagethermal-energyGeographic Markets
United StatesIsraelEuropeStorage Drop Financials
$2.09M
Total funding
Undisclosed
Capital raised
$1.09M
Last funding
Public
Funding stage
2
Total rounds
1
Investors
Cumulative Funding Raised Over Time ($)
$1.0MDec 2021
Private Equity Funding
Undisclosed Round
Dec 2021
$1M
Doral Energy-Tech Ventures (Lead)
Non-Equity Funding
GrantEvent
Mar 2024
$1.09M
Horizon Europe
Public Offering / Exit
ReverseMergerEvent
Mar 2021
Undisclosed
Storage Drop Lifecycle
Cumulative Funding Raised Over Time
$1.0MDec 2021
All Events
Undisclosed Round
Dec 2021
$1M
Doral Energy-Tech Ventures (Lead)
GrantEvent
Mar 2024
$1.09M
Horizon Europe
ReverseMergerEvent
Mar 2021
Undisclosed
Storage Drop News
14 articles
growth-positive
Storage Drop wins EU grant for cooling systems
Storage Drop has been awarded a €1 million grant from the EU funding program - HORIZON to develop an innovative cooling system. The total grant of €2.5 million will be shared with the Technion-Israel Institute of Technology, Spain’s University of Rovira I Virgili (URV), the French Research Institute CNRS Promes, UCA, AristEng process engineering, and the Spanish strategic company - Inveniam Group. The cooling system will be powered by solar panels and will use clean elements like water and CO2. The company expects the construction of the system to take around 12 months.
InvestmentPartners
growth-positive
מענק של 2.5 מיליון אירו: זו החברה הישראלית שמרוויחה בענק
Storj Drop, an Israeli company, has won a grant from the European Union for its Clean and efficient cooling program. The grant, amounting to 2.5 million euros, will be shared with Technion in Haifa, URV Spain University, French research institute Promes, international company Iberia Energies Technip, and Spanish strategy company Inveniam Group. The funding will be used for the development, planning, and testing of a new cooling system that operates at low temperatures, powered by a solar panel. The system is expected to be more efficient and environmentally friendly than conventional cooling systems.
InvestmentPartners
growth-positive
סטורג` דרופ תקבל מענק של של כ-700 אלף ש"ח עבור הקמת פרויקט אספקת אוויר דחוס
Israeli company Storage Drop has received approval for a grant from the Innovation Authority for a project to establish and operate a compressed air supply facility. The approved budget for the project is approximately 2.3 million NIS for 9 months, with the Innovation Authoritys participation standing at about 700,000 NIS. The grant will be given subject to meeting the authoritys conditions, which include proving the ability to finance a complementary amount of 1.8 million NIS by the end of March 2024. The company has already presented financing of 1.25 million NIS and is expected to raise the remaining financing soon.
InvestmentPartners
Growth-Positive
סטורג' דרופ וטויוטה יקימו מתקן פיילוט לטעינה מהירה של מכוניות חשמליות
Storeg Drop, a company that develops energy storage systems using compressed air during off-peak energy consumption hours, has received approval from Aisin of the Toyota Group to start a joint pilot at Aisins test site in Japan. This follows the successful testing of a similar energy storage facility that Storeg Drop set up at the port of Ashdod. The news led to a 4.75% increase in Storeg Drops share price.
PartnersExpand
growth-negative
אכזבה לסטורג’דרופ: לא קיבלה מימון מרשות החדשנות והאיחוד האירופי
StorjDrop, a company that entered the stock market in March 2021 through a merger with Medivie, has been denied funding by the Innovation Authority and the European Union (EU Funding Programme HORIZON). The company, which develops energy storage systems using compressed air and systems for compressing air using water pistons, has been erasing tens of percentages for investors since it was issued. The company intends to reapply for funding as soon as possible.
Investment
growth-negative
סטורג' דרופ נסקה ב-15% לאחר חתימה על הסכם עם תנובה
The stock of Stor-G dropped by 14.6% after the company signed an agreement with Tnuva to establish and operate an air compression facility for 15 years. The stocks trading volume was 2 million shekels, which is 92 times higher than the average daily volume. The company develops energy storage systems using compressed air.
Partners
growth-positive
Storage Drop wins rights to US DoE energy storage technology
Israeli company Storage Drop has received approval from the US Department of Energy to use patent-protected technology for energy storage. The technology uses air compressed by water to produce electricity and was developed by the USA National Laboratories. The approval opens up the US market for Storage Drop. The company has also begun operating its CoolDrop system for producing cooling at a demonstration site in Rehovot, and is readying to operate its HyDrop storage system at Ashdod port.
Partners
growth-positive
Storage Drop energy storage prototype to begin operations
Storage Drop has completed building a prototype of its HyDrop thermal energy storage system for producing electricity. The prototype will begin operating at Ashdod Port in the coming weeks. The company has also developed the CoolDrop energy storage system for cooling and air conditioning. Storage Drop is traded on the Tel Aviv Stock Exchange and has a market cap of NIS 117 million. The company recently raised $2 million from private investors. It plans to complete the development of HyDrop and CoolDrop on a commercial scale in 2022 and begin selling the systems during the coming year.
InvestmentExpand
מיזם האנרגיה של גדי איזנקוט נכנס לבורסת ת"א
Neutral
https://middleeast.in-24.com/News/17314.html
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Customers
growth-positive
לאומי פרטנרס ודוראל אנרגיה ישקיעו 6 מיליון שקל במיזם של גדי אייזנקוט
סטורג דרופ, a renewable energy company, has signed an investment agreement with Doral Energy-Tech Ventures and National Partners. The investment will be completed after the merger between StorageDrop and Medivie Therapeutics. Doral and National Partners will invest a total of 6 million shekels, reflecting a company valuation of approximately 230 million shekels. Other investors include Equitra Capital Limited and Yona Fogel, who will contribute a total of 8.75 million shekels. The investment process is expected to reach a total of 22 million shekels. As part of the agreement, Doral will have the option to purchase energy storage and cooling systems from StorageDrop, as well as the first right of cooperation in future projects. Doral will also have the right to distribute, market, and sell StorageDrops energy storage systems worldwide.
Investment
growth-positive
StorageDrop appoints Gadi Eizenkot as chairman
Former IDF Chief of Staff Gadi Eizenkot has been appointed chairman of the board of directors of StorageDrop, an Israeli energy storage company. StorageDrop focuses on developing advanced technology for storing green energy and has two separate storage systems for different purposes. The companys solutions aim to bridge the gap between the availability of energy from natural resources and the time it is used. StorageDrop is in the development stage for its systems and plans to begin selling them in Israel in 2022. The appointment of Gadi Eizenkot as chairman is seen as a positive growth factor for the company. The article was published on April 12, 2021.
PartnersPublic Trading
growth-positive
StorageDrop lists on TASE through Medivie merger
Israeli energy storage company StorageDrop is set to list on the Tel Aviv Stock Exchange through a merger with Medivie Therapeutic. The merger will see StorageDrops shareholders hold about 75% of Medivies share equity in full dilution. StorageDrop has developed two separate storage systems for renewable energy, one for producing electricity in renewable energy installations and the other for supplying cooling and air conditioning for buildings. The companys systems are still in the development stage and are expected to be sold in Israel in 2022.
Public TradingAcquisition
growth-positive
חברת האנרגיה הירוקה סטורג דרופ נכנסת לבורסה בת"א במיזוג עם מדיוי
Green energy company StorageDrop is entering the Tel Aviv Stock Exchange through a merger with Medivie Therapeutic. According to the memorandum of understanding signed between the parties, StorageDrops shareholders will hold up to about 75% in full dilution of Medivies share capital, which has so far focused on the production of medical cannabis products. One of the conditions for the merger is that the company will have 17.5 million shekels, either from the companys own coffers or through a private or public issuance of its shares. StorageDrop is focused on developing advanced technologies for storing green energy.
Public TradingManagement Changes
Storage Drop Team
Employee Info
| Employees (range) | 1-10 |
| Exact count | 9 |
| Team members | 1 |
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Storage Drop Internal
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Admin Info
| Confidence | 89/100 |
| Missing | video or image, markets, not claimed |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 516297736 |
| Phone | +972774008515 |
| Creator | Yanina Wainscheinker |
| Creator email | yanina.wain@gmail.com |
| Last updater | Maor Perlov |
| Updater email | maor.perlov@sncentral.org |
| Last update | 2024-06-30T00:00:00.000Z |
| Created | 2021-03-22T00:00:00.000Z |
| Status detail | Public on TASE on Mar, 2021<br> |