Colt Cloud Storage is a new cloud storage service from Colt Technology Services that provides limitless, scalable, and secure storage in a multi-tenant environment. The service offers metadata-driven policies and multiple access methods through APIs. Data is stored across Colt's four initial locations in London, Paris, Frankfurt, and Madrid with options for customers to choose the location and number of copies. The service is designed to address common use cases like backup, tiering, mobility, web development, and content management.