California-Based Clean Technology Company Leverages Electric Vehicle Battery Technology for Global Storage Demands
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:
-- Innovative Design: Integral to CODA's battery storage technology is its modular design, which features vertical energy towers operating in concert, but managed independently. CODA Energy's modular configuration promotes cost efficiency and enables continuous operation - even when performing maintenance - making the system an ideal choice for demanding environments.
-- Power to Scale: CODA's existing joint venture with battery manufacturer Lishen - supplier to Apple, Samsung, CODA Automotive and other major companies - supports cost-effective large scale supply. CODA shares proprietary innovation, research and development, and manufacturing intelligence among its automotive and stationary energy storage divisions, and passes that value onto the customer.
-- Scalable Storage Solutions: CODA's modular design tailors storage solutions to customers' energy storage needs today, while allowing for seamless growth to meet future demand tomorrow. Due to the CODA DC source controller's ability to scale, customers don't need to buy more than needed, resulting in smaller footprints for smaller installations.
Using the Li-ion battery system already developed and tested by CODA, coupled with its battery management system (BMS) and active thermal management system, the CODA Energy ESS offers cost-effective, dependable and scalable purpose-built storage applications. For more information on CODA Energy and its ESS can be found at www.codaenergy.com.
About CODA Holdings
Headquartered 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.
(1)"Global Energy Storage Capacity to Multiply 100-fold by 2021," Pike Research. November 11, 2011.http://www.pikeresearch.com/newsroom/global-energy-storage-capacity-to-multiply-100-fold-by-2021
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