LOS ANGELES, Nov. 19, 2012 /PRNewswire/ -- CODA Holdings, a leading developer of all-electric vehicles and advanced battery systems purpose-built for transportation and energy storage applications, today announced that it has received the Los Angeles Business Journal's Patrick Soon-Shiong Innovation Award. The award, which recognizes organizations and executives with proven influential innovation and business development prowess in Los Angeles, was announced at the third annual Los Angeles Business Journal's Patrick Soon-Shiong Innovation Awards dinner on November 15, 2012.
"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," said Phil Murtaugh, CODA Holdings CEO. "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."
The company's capital-efficient model, which allows resources to be focused on investments in technology and innovation, including its efforts in deploying all-electric vehicles and supporting renewable energy growth globally, led CODA to win the award. Focused on improving performance and safety, reducing cost, and commercializing production of its advanced energy storage systems and 2012 all-electric sedan, CODA is a key technology provider that will help support reduce the global market's dependence on fossil fuels.
"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," said Matthew Toledo, publisher and CEO of the Los Angeles Business Journal. "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 was received by CODA Holdings CEO Phil Murtaugh, Executive Chairman Mac Heller and Senior Vice President of Government Relations and External Affairs Forrest Beanum.
More information and images can be obtained at codapressroom.com.
About Patrick Soon-Shiong Innovation Awards
Los Angeles is home to 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.
About the Los Angeles Business Journal
Each week, the award-winning Los Angeles Business Journal examines the many ways that the L.A. economy operates. First-rate editorial and research teams provide in-depth analyses of the community's dynamic business and economic scene. Regular departments include Up Front, highlighting stories of importance featuring L.A.'s entrepreneurs and the businesses they're creating; News & Analysis, examining local business' actions and decisions; and Investment & Finance, where L.A.'s many public companies are profiled and analyzed.
About CODA Holdings
Headquartered in Los Angeles, CODA Holdings is a leading developer of advanced lithium-ion power battery systems comprised of three key business lines: CODA Automotive, CODA EV Propulsion Systems and CODA Energy. Together with its JV partners, CODA is working to reduce dependence on oil and leading the way to a cleaner future through its electric vehicles and stationary energy storage products. For more information on the CODA sedan, visit www.codaautomotive.com or for more information on CODA Energy storage solutions, visit www.codaenergy.com.
SOURCE CODA Holdings