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A consortium of investors led by global investment management firm Fortress Investment Group has acquired the core technology, engineering and energy storage assets of CODA Holdings Inc., as well as its key contracts and partnerships, to form the foundation of a new company that will carry over the brand name CODA Energy.

The assets were acquired from CODA Holdings' reorganization proceedings in a Section 363 sale that closed on Friday. CODA's energy storage system combines advanced batteries into modular towers or building blocks - The CODA Core - with battery and thermal management systems. The company says the systems are optimized for generation, distribution and behind-the-meter applications and can be adapted for utility, community and residential applications.

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