CODA Energy recognized for its innovative networked systems, poised to disrupt the energy storage market
SAN DIEGO (June 5, 2015) — CODA Energy, a leading provider of commercial and industrial behind-the-meter energy storage systems, has been chosen as a winner of Red Herring’s Top 100 North America award which recognizes and celebrates leading innovators and change makers across the technology industry. CODA founder, CTO and COO Peter Nortman demonstrated how CODA Energy’s network of distributed commercial energy storage is the key to creating a more reliable grid and sustainable energy future. With a deep history in battery technology, a unique financing model and the scalability and flexibility to satisfy a rapidly growing commercial energy storage market, CODA Energy is disrupting the status quo of energy management.
“With innovation at the core of CODA Energy, it was incredible an honor to be selected as a winner amongst the technology industry’s brightest stars,” said Paul Detering, CEO, CODA Energy. “As one of only four clean tech companies on the Top 100 list, it is a testament to the great potential CODA has to disrupt the way that energy is managed and demonstrate rapid growth and market leadership.”
Red Herring Top 100 America selects the award winners from approximately 1,200 privately financed companies each year in the U.S. and Canada. Since 1996, Red Herring has kept tabs on outstanding entrepreneurs and promising companies. The Red Herring Top 100 is one of the technology industry’s most competitive and prestigious distinctions, reserved for companies that truly change the way we live and work. CODA Energy now joins previous winners including leaders in cloud computing, mobile and big data such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Palo Alto Networks and eBay.
“In 2015, selecting the top achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the North America winners. We believe CODA energy embodies the vision, drive and innovation that define a successful entrepreneurial venture. CODA Energy should be proud of its accomplishment, as the competition was very strong.”
About CODA Energy
Headquartered in Monrovia, CA, CODA Energy designs and builds scalable, UL listed commercial and industrial energy storage solutions to support a smarter, cleaner, and more reliable grid. The presently available CODA Core™ product combines advanced lithium-ion cells with proven battery and temperature management systems and an integrated operating system designed to meet growing energy needs – peak shaving, EV charging, renewable energy integration, islanding, frequency trading. CODA Energy’s products reduce electricity costs, control energy consumption and manage energy risk, optimizing commercial and industrial energy operations for scalability, extensibility, safety, reliability and security; ultimately contributing to a more economically and energy resilient world.