CODA Energy Teams up with Stem For A Smart Energy Optimization System
When we think of CODA Automotive, we really are talking about CODA Holdings and its three business lines, which include CODA Automotive, CODA Energy, and CODA EV Propulsion Systems. The third part of the Holding is the one interested in energy and more to the point, optimizing it. With CODA Energy teaming up with Stem for the deployment of a smart energy optimization system, the Energy Optimization Solutions from Stem includes a Battery-Based CODA Core, which has is being tested at two landmark hotels in order to efficiently manage its renewable electricity usage and demands.
CODA Energy, The Other CODA. Based in Los Angeles, CODA Energy manufactures energy products based on a core of CODA's heavily utilized batteries, adaptive battery-management technology, and scalable system architecture. CODA Energy also develops and manufactures what the company claims as “highly adaptive, scalable and reliable core energy products” The new relationship with Stem, itself a leading provider and innovator of energy optimization services deployed as part of Stem's energy optimization system, using CODA's lithium-ion battery architecture with battery management system, BMS the InterContinental Mark Hopkins Hotel and the InterContinental San Francisco Hotel effectively management their energy usage and cost of electric power.
According to Ed Solar, CODA Energy senior vice president: "We're excited to be at the core of Stem's innovative energy optimization solution for a forward-thinking and energy conscious hotel group such as InterContinental. Our project with Stem showcases the adaptability of our core technology, and demonstrates how it helps to solve real energy challenges. We look forward to applying our cost-effective energy solutions to future Stem and other energy optimization projects that mitigate impact on the electrical grid and commercial electricity budgets."
By using a CODA Core of lithium-ion batteries and BMS technology integrated with Stem's energy optimization solution, the company is able to deliver the Hotels CODA’s Core storage technology, which will also power all-electric vehicles, EV manufactured by CODA Automotive. The system is designed to maximize available energy and provide a long-lasting and durable solution, especially in the case of weather problems, such as storms and power outage. Think back up in the case of hurricane Sandy. But Stem’s system isn’t necessarily for industrial customers, as the new deployment by Stem is also available to commercial clients wanting to improve power reliability and quality, reduce peak demand charges and optimize time-of-use rates.
Tad Glauthier, vice president of sales and marketing of Stem had to say: "We're pleased to be working with CODA Energy on our first customer installation, Stem's data, predictive analytics and energy optimization system, along with the CODA Core, optimizes electricity use for the InterContinental hotels, allowing them to save money without requiring changes in behavior or operations."
What Is CODA Energy? CODA Energy's primary business is to design and build comprehensive and reliable energy storage systems, ESS for systems that support a flexible, greener, and more sustainable grid. Designed to be cost-effective and environmentally responsible from development to deployment, the modular and adaptable design of CODA Energy's ESS allows solutions to be configured to the customer's needs and scalable for future growth and can potentially weather the storms, pun intended.
Essentially what we have here is a startup that knows how to not put all its eggs in one basket. This is something Tesla Motors has also learned and explains its teaming up with Daimler and Toyota. But in CODA’s case, the strategy is to form two other entities, each building upon a single core technology that will appeal to the various sectors in need of energy storage and management. In the meantime, CODA Holding’s strategic partnership with Stem is a step towards CODA establishing itself as a global energy management company.