- Published: 27 June 2013 27 June 2013
A consortium of investors led by global investment management firm Fortress Investment Group has acquired the core technology, engineering and energy storage assets of CODA Holdings, Inc., as well as its key contracts and partnerships, to form the foundation of a new company that will carry over the brand name CODA Energy.
CODA Energy designs and builds scalable energy storage solutions that support a smarter, cleaner and more reliable grid. Ed Solar and Pete Nortman will co-manage the company. CODA's energy storage system (ESS) combines batteries into modular towers or building blocks, The CODA Core, with battery and thermal management systems (BMS and TMS), all managed through a power source controller. The systems are optimised for generation, distribution and behind-the-meter applications for commercial & industrial end users, and can be adapted for utility, community and residential applications.