Abstract: The invention relates to a compact storage system and a corresponding method for storing frozen specimens. The compact storage system comprises one storage area, a housing with thermal insulation and at least one refrigeration unit, with which at least the storage area is coolable down to a temperature of at least ?15° C. The compact storage system also comprises storage shelves arranged completely within the refrigerated storage area and a transfer area arranged above this storage area. An essentially horizontally moving robot is arranged within the transfer area. The compact storage system is characterised in that it comprises at least one essentially vertical paternoster device, with a plurality of essentially horizontally oriented storage shelves circulating on an essentially oval path. The robot working in conjunction with the paternoster device is accomplished for removing or depositing a storage shelf and/or objects from/onto a storage shelf respectively.