Standardization to Scale: CODA Energy’s CODA Core™ 50kWh receives UL 1973 certification

Company reaches major milestone in assuring safe, reliable energy storage system to customers with greater power needs

MONROVIA (April 16, 2015) — CODA Energy, a leading provider of commercial and industrial behind-the-meter energy storage systems, today announces the release of a UL Listed 50kWh CODA Core™ Tower with UL (Underwriters Laboratories) subject 1973 certification. The certification of the 50kWh energy storage Tower marks another milestone for the company and demonstrates CODA’s commitment to continuous innovation by extending their guarantee of safety, reliability and performance to commercial and industrial customers with greater power needs. With a growing catalogue of high quality energy storage products, CODA continues to build a solid foundation for scaling sales and production to meet the growing market demand for energy storage in 2015 and beyond.

“We are committed to raising the bar for standardization in the energy storage industry and driving the shift towards faster customer adoption of smarter, cleaner energy technology,” said Peter Nortman, COO and CTO at CODA Energy. “The additional UL certification allows us to offer customers requiring higher capacity a safe and reliable energy storage appliance, which delivers greater economic benefits. Securing the most trusted third-party certifications for all of our products, including UL 1973, ISO 9001 and ISO 14001, validates our long-term dedication to our customers and ensures the scalability of our company.”

Manufacturing its energy storage systems in California, CODA Energy is achieving proof-of-technology and quality that surpasses competitors. With the most third-party certified scalable system on the market, the company is well positioned to hold a sizable portion of the booming energy storage market that will grow to an estimated $7.5 billion by 2022, according to Navigant Research.

“The distributed behind-the-meter commercial energy storage space is growing dramatically in North America and throughout the world,” said Sam Jaffe, principal research analyst at Navigant Research. “Thanks to increasing renewables penetration, grid congestion issues and high demand charges, the commercial energy storage integration business is a growth business today.”

In February 2014, CODA Energy 40kWh high-voltage system became the first commercial scale energy storage system specifically targeted for behind-the-meter use to be subjected to UL 1973 and pass. Since then, the company has been steadily gaining traction, securing over 4.6MWh of energy storage contracts with manufacturing, retail and public sector customers, and completing 3MWh of system installations. In 2014, CODA Energy announced new customer installations including the City of Benicia City Hall and the Sunset Marquis Hotel in Los Angeles, in addition to the largest energy storage system in the Los Angeles Basin in partnership with South Coast Air Quality Management District.

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.

MEDIA CONTACT: Zoey Farooq, Siren