Coda Holdings, parent company of the Los Angeles-based electric-vehicle maker Coda Automotive, is launching a division specializing in energy storage as the company looks to cash in on what many believe will be a rapidly growing market for secondary use of electric-vehicle batteries.

The new company, aptly named Coda Energy, will specialize in designing battery systems that may be used for on-site power supply as well as a backup power source in the event of a grid outage. Coda has an existing business partnership with its car-battery supplier, Lishen, which also makes lithium-ion batteries for companies such as Apple and Samsung.

Coda, which sells the battery-electric five-seater Coda Sedan, is looking to take advantage of an energy-storage market that it says will jump by a factor of 100 over the next decade and will generate $122 billion in revenue during that time. The company, which opened its Los Angeles headquarters in November, said last September that it raised $147 million in its fourth round of financing to bring its total to more than $300 million since the company's 2009 founding. Coda sells its 150-mile-range Sedan for $39,900 and said earlier this month that it would offer a version with a slightly shorter single-charge range for $2,650 less.

Proponents of electric vehicles are keeping an eye on the secondary-battery market because much of an EV's cost and residual value is tied to how much its battery costs to produce and how much it can be sold for when it can no longer be used in the car.

Coda is not the only EV maker looking into the so-called secondary battery market. Nissan last week reached an agreement with ABB, the world's biggest maker of power-transmission equipment, to test used lithium-ion electric-vehicle batteries, such as those in the Nissan Leaf battery-electric vehicle, for possible energy storage uses for utility companies and community power sources. The partnership is looking to develop a 50 kilowatt-hour battery-storage prototype that would be able to power 15 homes for two hours. GM is also looking at ways to re-use Chevrolet Volt batteries.
Show full PR text
CODA Energy Launches Flexible and Reliable Energy Storage Solutions
California-Based Clean Technology Company Leverages Electric Vehicle Battery Technology for Global Storage Demands

LOS ANGELES, Jan. 20, 2012 /PRNewswire/ -- 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-mul tiply-100-fold-by-2021


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 12 Comments
      brotherkenny4
      • 6 Months Ago
      Waiting for secondary use batteries from the vehicle market pushes any impact that renewables could have further down the road. The vehicle batteries will last ten years in the cars. By the time they become available, someone will have finally realized that the requirements for vehicle batteries are completely different than grid or home storage. In vehicles you need power density. For grid and home storage, you are not as constrained by volume and mass. What you need is total energy at lower cost. One way to accomplish this is simply learning how to make thicker cathode and anode coatings. At the high per area current density that you need to get for vehicles the required current density causes you to run into diffusion limitations within the electrode. For grid and home storage your current density can be lower and thus your electrodes thicker, which effectively reduces the total amount of non storage materials needed per mass unit of active storage material. Anyway, if the bottom line cost estimates for car batteries is $350/KWhr then $200/KWhr is doable for grid storage. This analysis doesn't even consider advancements in cathode and anode materials. It assumes current technology level with cost saving coming through mass production. I wouldn't say that secondary use is not going to happen, it will. What I am saying is why wait ten years for what will be very few batteries. The solar and wind programs of europe, the US and China are really missing the boat if they think used car batteries are going to be enough.
        DaveMart
        • 6 Months Ago
        @brotherkenny4
        Hi. Please do format properly. What you have to say is interesting, but very difficult to read. I think that you have not taken on board that they are proposing second use for car batteries, and so most of the cost of the battery is already amortised but after the capacity has dropped too far to be used in cars, since as you say weight does not matter for grid storage it is fine for that. If your figures of $350kwh for new car batteries and $200kwh for purpose built new storage batteries are correct, then they can simply price the remaining ~70% of capacity for the second hand car battery at $150kwh, as they are already mostly paid for so it is just a case of getting as much as you can for something which is worthless as a car battery now.
      Nick From Montreal
      • 3 Years Ago
      Actually quite smart and a good "plan B" -- They are preparing a future where nobody wants their cars and they have to do something with all the batteries they have on order.
      Deej
      • 6 Months Ago
      Us 'smart grid' types have been holding this out as one of the key dispatchable storage technologies - your car sits idle for most if it's life and your EV is just a mobile battery, so the idea of using distribution system connected EVs to inject energy (and get paid for it) as well as draw is nothing new.
      Ford Future
      • 3 Years Ago
      "an energy-storage market that it says will jump by a factor of 100 over the next decade and will generate $122 billion in revenue during that time." Looks like their getting ready to Replace EXXON. This is the kind of investment Exxon should have made. But instead they spend SHAREHOLDER money on Global Warming PROPAGANDA.
        marcopolo
        • 6 Months Ago
        @Ford Future
        @Fordinsight You may be little out of date; Exxon’s vice president for public affairs. Kenneth Cohen told the Wall Street Journal that Exxon decided in late 2005 that its 2006 nonprofit funding would not include CEI and "five or six" similar groups. Since then, Exxon has switched to funding Global Warming research groups.
          marcopolo
          • 6 Months Ago
          @marcopolo
          @fordinsight I see your point, but Exxon's product is Oil extraction. I suppose you could argue that all Oil/fuel extraction contributes to global warming, but that's not really " Global Warming denial propaganda". is it? The real problem is that the world needs Oil. That means some one has to extract and process oil, whether it be from wells or more distressingly, tars sand etc. Oil is in huge demand world wide. If it's not Exxon it will be the really ruthless giant PRC Russian etc OIl companies. Just saying you don't like oil, and condemning the methods of extraction and processing, is undoutedly correct, but a bit like hating the weather, pointless. Until real alternatives can be found (and accepted) civilisation will continue to run on fossil fuel. But, all is not hopeless, passionate lovers of the environment like you, can achieve some thing possitive, on a grand scale.! The worst of all oil's pollutant products, is the product known as No. 6 marine grade Fuel.(Bunker Oil). Right now, there are 7 shipwreaks leaking thousands of tonnes of this toxic sustance into some of the world's most beautiful locations. It's estimated that each container ship, contributes the equivilent toxic pollution as 50 million vehicles per year! At least 160,000 deaths per year are attributed to this toxic fuel. With the help of passionate supporters like you, we can rid the planet of this most toxic of oil products! The question is, who will help?
          Ford Future
          • 6 Months Ago
          @marcopolo
          Wait, but last year Exxon ran a series of tar sand "oil sand" commercials on Fox "News", so, no I don't think they really get the Global Warming Issue.
          Dan Frederiksen
          • 6 Months Ago
          @marcopolo
          well duh, it's an oil company. a massive company realizing it is all bad, that doesn't happen. money keeps the eyes of weak men closed
          Ford Future
          • 6 Months Ago
          @marcopolo
          I'm going to have to research their company statements then, thanks for the info!
      HVH20
      • 3 Years Ago
      Thats impressive considering they farmed out their battery pack design to a consulting firm... They are probably farming this out to that same group.