Friday, November 16, 2012
CODA Energy Ties With Energy Optimization Firm
Los Angles-based CODA Energy, the offshoot of CODA Automotive developing battery-based energy storage systems, said today that it has inked a deal with Stem, a provider of energy optimization services. CODA said that its battery systems are being deployed as part of a solution to help manage energy usage and electric power at the InterContinental Mark Hopkins Hotel and the InterContinental San Francisco Hotel. CODA said its lithium-ion batteries--based on the same battery technology being used in CODA Automotive's cars--are being used to reduce peak demand charges for those hotels. Financial impact of the deal was not disclosed. CODA said the implementation is its first commercial deployment with Stem.