CODA Holdings Receives Innovation Award from Association for Corporate Growth

LOS ANGELES, May 3, 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 Innovation Award from the Los Angeles chapter of the Association of Corporate Growth (ACG).  Members of the CODA executive management team accepted the award at the ACG Los Angeles Annual Awards Ceremony, held May 1 at the Walt Disney Concert Hall.

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"Los Angeles is home to some of the world's most creative and innovative companies, and we're honored that ACG Los Angeles has acknowledged CODA among such a distinguished group of peers," said Phil Murtaugh, CEO, CODA Holdings. "CODA will continually look for innovative ways to expand the market for electric vehicles and energy storage, developing sustainable energy solutions for the future."

CODA develops cost-effective, efficient and safe advanced energy storage systems to support the deployment of electric vehicles and renewable energy globally. The development of its cost-effective clean energy battery systems, its flagship electric vehicle – the 2012 CODA – and its accomplished leadership team earned the company the venerable award.

"The ACG LA Awards Ceremony recognizes companies who have not only demonstrated leadership in their field, but have also significantly impacted our region and community," says Andrew Apfelberg, ACG LA president and partner at Greenberg Glusker. "We're thrilled to recognize CODA Holdings and its employees for their contributions to the clean technology industry and the innovative spirit that guides them."

About Association of Corporate Growth (ACG)
Founded in 1954, the Association for Corporate Growth, Inc. is the premier global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions. Today, ACG stands at over 14,000 members from corporations, private equity, finance and professional service firms representing Fortune 500, Fortune1000, FTSE 100, and mid- market companies in 57 chapters in North America and Europe. For over 40 years, the Los Angeles chapter of ACG has been a hub for the city's business community. A place for executives of all types to learn new practices, challenge conventional thinking and broaden and strengthen their relationships throughout the region. ACG LA's members represent companies and industries that are as varied as the neighborhoods of Los Angeles - corporate executives, commercial and investment bankers, private equity investors as well as legal, accounting and finance professionals, many of whom specialize in mergers and acquisitions or corporate development. For more information on ACG LA, visit http://www.acgla.org.

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. The first consumer product available will be a zero emission four-door, five-passenger EV sedan with a full-size trunk that is designed to meet American drivers' daily transportation needs. For more information on the CODA sedan, visit www.codaautomotive.com.

SOURCE CODA Automotive