LOS ANGELES, Nov. 15, 2012 /PRNewswire/ -- CODA Energy, a developer and manufacturer of highly adaptive, scalable and reliable core energy products, announced a new relationship today with Stem, a leading provider and innovator of energy optimization services. Deployed as part of Stem's energy optimization system, CODA's lithium-ion battery architecture with battery management system (BMS) technology is a part of Stem's solution for effective management of energy usage and cost of electric power for the InterContinental Mark Hopkins Hotel and the InterContinental San Francisco Hotel. The deployment marks the first commercial collaboration between CODA and Stem.
"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," said Ed Solar, CODA Energy senior vice president. "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."
The Stem systems delivered to the InterContinental Hotels include a CODA Core™ of lithium-ion batteries and BMS technology integrated with Stem's energy optimization solution. This foundational CODA Core storage technology also powers the all-electric vehicles manufactured by CODA Automotive, CODA Energy's sister company, and is designed to maximize available energy and provide a long-lasting and durable solution. Ideal for commercial and industrial customers, the new deployment by Stem helps improve power reliability and quality, reduce peak demand charges and optimize time-of-use rates.
"We're pleased to be working with CODA Energy on our first customer installation," said Tad Glauthier, vice president of sales and marketing of Stem. "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."
CODA Energy's primary business is to design and build comprehensive and reliable energy storage systems (ESS) for a range of applications 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.
More information and images can be obtained at codapressroom.com.
About CODA Energy
Headquartered 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's products feature a modular design that provides reliable, secure, cost-effective solutions for a wide range of energy and power needs, including peak shaving, load leveling, renewable energy integration, frequency regulation, voltage support, and transmission and distribution (T&D) upgrade deferral. Its parent company, CODA Holdings, and its other business lines –CODA Automotive and CODA EV Propulsion Systems – develop cost-effective clean technology products that provide improved security and value for a complex and dynamic world. For more information, visit codaenergy.com.
Stem, a leading provider of energy optimization services, combines big data, predictive analytics and energy storage to reduce electricity costs for businesses. The company's solution requires no compromises on building occupant comfort and offers unparalleled energy insights, allowing a comprehensive view into past, present and future energy use. As demands on the grid continue to increase, Stem's system enables good energy citizenship and unlocks the potential for expanded renewable energy integration. Headquartered in Millbrae, California, Stem is funded by leading investors Angeleno Group and Greener Capital. For more information, please visit http://stem.com.
SOURCE CODA Energy