Lee’s Summit’s Exergonix acquires a California energy company

Exergonix, a Lee’s Summit company that specializes in energy storage technology, said it has purchased most of the assets of Coda Energy. The purchase price was not disclosed.

Coda Energy, based in Monrovia, Calif., manufactures storage units for electricity with the capacity to hold a few kilowatt hours of energy to multiple megawatt hours.

Don Nissanka, president and chief executive of Exergonix, said the acquisition is a “big win” for his company because it now has the “ability to have a physical presence and to hire trained and experienced personnel in California, where this is a burgeoning demand for energy storage.”

Exergonix was founded in 2010.

The Star

This story was originally published May 20, 2016 at 1:07 PM with the headline "Lee’s Summit’s Exergonix acquires a California energy company."