Shell, Taavura Group and Menora Mivtachim-backed Nostromo secured $13.6m through a reverse merger with publicly-listed Somoto.
Nostromo, an Israel-based cold-energy storage technology developer backed corporates Shell, Taavura Group and Menora Mivtachim, has raised $13.6m through a merger with Tel Aviv Stock Exchange-listed distribution and monetisation software producer Somoto.
Founded in 2017, Nostromo has developed a cold energy storage system which utilises electricity to cool modular thermal ice cells when energy demand is low and discharges a cooling effect when consumption is high.
The company has positioned its technology for use in large buildings with a high…
