CODA Energy Names Paul Detering as First CEO

MONROVIA, Calif., March 11, 2015 /PRNewswire/ -- Today, CODA Energy announced the appointment of Paul Detering as the company's first CEO following its transformation from electric vehicle manufacturer to a leading energy storage solutions provider in June 2013. With over 20 years of experience in the clean technology, networking and software industries, Detering joins CODA Energy to steer the industry leader through an exciting period of business growth.

"CODA Energy is thrilled to welcome Paul to its leadership team," said Peter Nortman, CTO and COO at CODA Energy. "Paul's deep knowledge of the renewable energy space and proven expertise in driving growth for early-stage companies complement the strength of our product, enabling CODA Energy to achieve our next critical stage of development."

Detering is an experienced leader in accelerating market growth for early stage, clean technology companies. Prior to joining CODA Energy, Paul served as Managing Director of Redwood Insights, a consultancy focused on early stage and midsize companies and funds in the renewable energy, technology and communications industries. Throughout his career, Detering has amassed a wealth of management and leadership expertise through an impressive number of CEO positions including REC Solar, Tioga Energy, Blueleaf Networks and Wildfire Communications. Detering also founded Tioga Energy, a VC-funded commercial solar developer and power purchase agreement (PPA) innovator. Under his direction, Tioga Energy secured corporate funding from MEMC, NGEN Partners, Nth Power and Draper Fisher Jurvetson, in addition to project and tax equity capital from De Lage Laden Finance, PNC Bank, Wells Fargo Bank and U.S. Bankcorp, among others.

"CODA Energy has one of the most comprehensive, competitive energy storage solutions available in the market today," said Paul Detering, CEO of CODA Energy. "In 2014, CODA Energy created a solid foundation by developing and installing the most innovative, reliable, and adaptable UL Listed storage technology on the market today. With commercial installations in six states ranging from networked, single 30kW / 40kWh systems to an extensive 510kW / 1,054kWh project, CODA has demonstrated its capability to effectively commercialize and deliver distributed energy storage. I'm excited by the opportunity to keep that progress going and to ensure CODA's leadership in the rapidly evolving world of energy infrastructure."

Backed by funds managed by affiliates of Fortress Investment Group and a European Family Office, CODA Energy designs and builds scalable energy storage solutions that support a smarter, cleaner and more reliable grid. The CODA Core™ Tower combines advanced batteries with proven battery and temperature management systems, all managed through a sophisticated power source controller. CODA energy storage systems are optimized for generation, distribution and behind-the-meter applications for commercial and industrial end users. The company's engineering team has been developing, testing and implementing battery and management systems for small and large-scale applications ranging from electric vehicles to energy storage since early 2001.

In February 2014, CODA Energy 40kWh high-voltage system became the first commercial scale energy storage system specifically targeted for behind-the-meter use to be subjected to UL 1973 and pass. Since then, the company has been steadily gaining traction, securing over 4.6MWh of energy storage contracts with manufacturing, retail and public sector customers, and completing 3MWh of system installations. In 2014, CODA Energy announced new customer installations including the City of Benicia City Hall and the Sunset Marquis Hotel in Los Angeles, in addition to the largest energy storage system in the Los Angeles Basin in partnership with South Coast Air Quality Management District.

About CODA Energy
Headquartered in Monrovia, CA, CODA Energy designs and builds scalable, UL listed commercial and industrial energy storage solutions to support a smarter, cleaner, and more reliable grid. The presently available CODA Core™ product combines advanced lithium-ion cells with proven battery and temperature management systems and an integrated operating system designed to meet growing energy needs – peak shaving, EV charging, renewable energy integration, islanding, frequency trading. CODA Energy's products reduce electricity costs, control energy consumption and manage energy risk, optimizing commercial and industrial energy operations for scalability, extensibility, safety, reliability and security; ultimately contributing to a more economically and energy resilient world.

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SOURCE CODA Energy

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http://www.codaenergy.com