There’s still some life left to CODA Holdings, and now that the dead Automotive arm has amputated [read: bankruptcy], CODA Energy can focus on something else, grid storage technology.
CODA Automotive’s bankruptcy came as no surprise after failing to sell enough of its electric sedan to make a profit. Now that all the legal stuff is out of the way, CODA has reemerged as CODA Energy, with a focus on grid storage technology.
Grid storage technology is important for a number of reasons. Intermittent renewable energy can be smoothed out by grid storage, storing energy in excess of demand for release later when supplies dwindle. As storms get more violent, power grid operators are turning to smart grid and grid storage technology to keep power flowing.
According to a study by Lux Research, grid storage, globally, will exceed $10 billion in the next four years, a 900% increase. An example of this can be seen in the recent proposal by the California Public Utilities Commission to procure 1.325GWh of grid storage capacity. While CODA Automotive’s ventures didn’t work out so well, this could be the perfect time for CODA Energy to show its stuff.
CODA Energy has designed modular building blocks, of a sort, that can be scaled from commercial to grid-level power needs on either side of the meter. Each block contains advanced rechargeable battery technology and can be stacked, interconnecting in such a way they can be controlled by a single grid storage power controller.
My only concern is the vague cracker-jack-box statement the new managers of CODA Energy made: “CODA Energy will be laser-focused on engineering innovative products that help our end-users solve challenges in the field and realize a positive return on investment,” say Coda Energy managers Ed Solar and Pete Nortman in a press release. Don’t all businesses try to do that? If CODA Energy doesn’t come up with something a little more specific, they may fair no better than CODA Automotive.