Israel-based Storage Drop has secured a €1 million ($1.09 million) grant from the European Union to develop a low-temperature cooling system, the company said in a recent statement to the Tel Aviv Stock Exchange.
“The goal of the initiative is to develop a cooling system for low temperatures, from -40 C to 12 C,” the company said. “The system will operate from PV panels that supply it with electricity 24/7. The cooling cycle will use only green components, water, and CO2.”
The total grant was awarded to a consortium that includes the Israeli storage company, the Technion—Israel Institute of Technology, Spain's University of Rovira I Virgili, Inveniam Group, Iberia Energies Technip, and France's CNRS Promes.
Storage Drop said the system is a long-duration isothermal compressed air energy storage (I-CAES) platform consisting of three different parts: HyDrop, DropX, and Cool Drop technology.
The first part features high-pressure vessels for isothermal compression, underground piping for the storage of compressed air, and discharge vessels for release of energy into Pelton turbine for power generation.
The second part is a hydraulic isothermal compressor based on a water pump that compresses the air in an isothermal process and generates compressed air.
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“This air compressor is a game changer in the air compressors industry and can provide factories with significant cost savings in electricity and maintenance together with a longer life expectancy,” said Storage Drop.
The third component is the cooling system itself, which stores high-pressure coolant for cooling and air conditioning purposes.
“CoolDrop target users are buildings, factories, data centers, industrial refrigeration and mobile refrigeration applications,” said the company.
The system reportedly has a roundtrip efficiency of more than 70% and a lifespan of over 30 years.
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