20 January 2012
California-based CODA Holdings, which develops battery systems and all-electric vehicles, today launched CODA Energy, a new business arm of the company that provides scalable battery storage systems—including storage for renewable energy such as solar—to support a more sustainable electrical grid.
Worldwide installations of energy storage capacity are expected to increase from 121 megawatts (MW) in 2011 to 12,353MW in 2021, with an estimated US $122 billion in potential deployments over the next 10 years. CODA's energy storage system (ESS) is intended to address the rapid growth and increased demand for energy storage solutions. CODA Energy offers battery systems for generation, distribution and behind-the-meter applications for commercial and industrial needs, as well as for microgrids, the security sector, the transportation sector and EV-fleet management.