CODA beefs up for major assault on smart grid storage market

By Jesse Berst

CODA, the LA-based electric vehicle and battery company, has made a series of moves to prepare for a major foray into grid storage:

·         Closed a $147 million round of venture financing (taking its total funding to more than $300 million)

·         Purchased a battery management software company (EnergyCS of Monrovia, CA)

·         Brought on a smart grid veteran to run the storage division

Grid storage and beyond

Joining the company is Ed Solar, former president and CEO of Arcadian Networks. He brings more than 20 years of experience in the energy and utilities sector. He becomes Senior Vice President and head of CODA Energy. CODA has two other divisions, Automotive and Propulsion Systems.

CODA and its investors are banking on recent market projections that predict the storage market will grow 50 to 100% year-over-year, leaving lots of room for new entrants. Solar has his sights on a series of grid-connected applications, including renewables integration, community energy storage, home energy backup, ancillary services and even telecommunications backup.

Can this company gain credibility with utilities?

Will utilities want to buy grid products from a company that also sells EVs? Solar claims that CODA's three-pronged approach is an advantage. They are developing a single storage technology that will apply in all three areas. Theoretically, that will bring economies of scale and economies of innovation.

(On the other hand, some storage experts say the battery for a car should not have the same characteristics as the battery for grid storage. Please use the comment form at the bottom to weigh in with your opinion if you have expertise in this area.)

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