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CODA Receives 2012 Patrick Soon-Shiong Innovation Award from the Los Angeles Business Journal

The esteemed Los Angeles business publication and internationally recognized Philanthropist and Biotech Entrepreneur honors a top Los Angeles leader for its innovation. CODA receives the 2012 Patrick Soon-Shiong Innovation Award from the Los Angeles Business Journal.

CODA has something else to celebrate, one of the leader in the long range electric vehicle, EV, as well as its other entities involved with advanced battery systems that are purpose-built for transportation and energy storage applications has just received the Los Angeles Business Journal's Patrick Soon-Shiong Innovation Award.  The award recognizes organizations and executives with proven influential innovation and business development prowess in Los Angeles. This was announced at the third annual Los Angeles Business Journal's Patrick Soon-Shiong Innovation Awards dinner on November 15, 2012.

The Los Angeles Business Journal's Patrick Soon-Shiong Innovation Award. Los Angeles is home to some of the most cutting-edge and innovative companies in the world. Innovation plays an important role in enhancing the economic competitiveness of the region. This special award program was created to honor and acknowledge the people and organizations that continue to stretch the boundaries and have proven to be leaders in innovation. Patrick Soon-Shiong is a biotech entrepreneur and internationally recognized philanthropist, who is a Co-Inventor of over 50 issued U.S. patents, has published more than 100 scientific papers and has pioneered revolutionary new treatments for diabetes and cancer. Dr. Soon-Shiong's research has been recognized by noted organizations with numerous national and international awards.

CODA In The Limelight. According to Phil Murtaugh, CODA Holdings CEO: "Los Angeles fosters the growth of some of the world's most creative and competitive companies, and we're honored that CODA has been recognized among such a distinguished group of business leaders. CODA recognizes that the successful introduction of new technologies requires a concerted effort by local and national policymakers, industry leaders and other stakeholders, and we're honored that Dr. Patrick Soon-Shiong and the Los Angeles Business Journal supports our vision of delivering affordable electric vehicles that are powered by locally-produced renewable energy sources."

CODA is doing all it can to diversify itself intelligently and not just be yet another carmaker. Indeed, with its capital-efficient model, this allows its resources to be focused on investments in technology and innovation. This allows CODA to aim its efforts in deploying an all-electric vehicle with superior technology and impressive range, while at the same time supporting renewable energy growth globally. All of this led CODA to win the famous Patrick Soon-Shiong Innovation Award.

CODA’s Big Bet. The race has just started and CODA knows it only has one chance to get it right. If the electric car, the CODA shows a lot of potential, it will need to make sure it meets all criteria to be driven on our roads. The next few months are going to be spent focused on improving performance and safety, but also reducing cost, and commercializing production of its advanced energy storage systems. This means the 2012 all-electric sedan, CODA will be a key component to the success of the company as it shows it is is a technology provider that will help support reduce the global market's dependence on fossil fuels.

Finally, Matthew Toledo, publisher and CEO of the Los Angeles Business Journal had to say: "The third annual Los Angeles Business Journal's Patrick Soon-Shiong Innovation Awards recognizes entrepreneurs and companies who are currently driving business in our region. The Los Angeles Business Journal, Patrick Soon-Shiong and the awards committee are thrilled to recognize CODA Holdings and its employees for their contributions to the clean technology industry."

The Award. The award was received by CODA Holdings CEO Phil Murtaugh, Executive Chairman Mac Heller and Senior Vice President of Government Relations and External Affairs Forrest Beanum. 

This is a high accolade indeed for the Californian electric car and energy solution company started only a few years ago. CODA is off to a good start and if it can correctly maneuver the next few months as it starts selling its electric cars and brings in energy storage solutions contracts, the future success of the company should be assured.