Coda Announces Energy Storage Arm

Electric Car maker sees opportunity to adapt its expertise into the grid storage market.

Published: 23-Jan-2012

LOS ANGELES, -- CODA Holdings, a leading developer of advanced battery systems and all-electric vehicles, today announces the debut of CODA Energy. The new business arm provides scalable, flexible and reliable battery storage systems to support a more sustainable electrical grid.

"The launch of CODA Energy represents a strategic progression of our business," said Phil Murtaugh, CEO of CODA Holdings. "CODA believes that renewable energy combined with enhanced grid efficiency provides the key to ending global reliance on fossil fuels. By rounding out our portfolio with highly configurable energy storage solutions, CODA is ready to support the growing energy storage market."

Worldwide installations of energy storage capacity are expected to increase from 121 megawatts (MW) in 2011 to 12,353 MW in 2021, with an estimated $122 billion in potential deployments over the next 10 years(1). CODA's energy storage system (ESS) is positioned to seamlessly address the rapid growth and increased demand for safe, tested and reliable energy storage solutions. CODA Energy offers battery systems for generation, distribution and behind-the-meter applications for a myriad of commercial and industrial needs, as well as for microgrids, the security sector, the transportation sector and EV-fleet management.

"We launched CODA Energy to develop scalable energy solutions that support a smarter, greener grid," said Ed Solar, senior vice president, CODA Energy. "As demand for energy continues to increase, it's imperative that we're able to capture, store and dispatch natural resources. CODA Energy's battery technologies are engineered to provide safe, robust and cost-effective solutions for today and tomorrow."

CODA's ESS offers:

About CODA HoldingsHeadquartered in Los Angeles, CODA Holdings is a leading developer of advanced lithium-ion power battery systems comprised of three key business lines: CODA Automotive, CODA EV Propulsion Systems and CODA Energy. Together with its JV partners, CODA is working to reduce dependence on oil and leading the way to a cleaner future through its electric vehicles and stationary energy storage products.

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