CODA Holdings, parent company of the electric-vehicle maker Coda Automotive, has created CODA Energy, a new business arm targeting stationary grid storage systems.
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.
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.
CODA’s modular battery Energy Storage System (ESS) technology features vertical energy towers operating in concert, but managed independently. CODA says its modular configuration promotes cost efficiency and enables continuous operation, even when performing maintenance.
CODA’s existing joint venture with China-based battery manufacturer Lishen supports cost-effective large-scale supply, the company notes.
