Los Angeles, January 24, 2012 — CODA Holdings, a developer of advanced battery systems and all-electric vehicles, announced the debut of CODA Energy. The new business arm provides scalable, flexible and reliable battery storage systems to support a more sustainable electrical grid.

Worldwide installations of energy storage capacity are expected to increase from 121 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 is positioned to 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.

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.

CODA's existing joint venture with battery manufacturer Lishen —supplier to Apple, Samsung, CODA Automotive and others — 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.