NovoFuel enters Li-ion RES Market
NovoFuel, Inc., a wholly-owned operating subsidiary of AlumiFuel Power Corporation, has signed a Collaboration Agreement with Lithium Battery Engineering, LLC (LBE) and Custom Electronics, Inc. (CEI). Under the terms of the Agreement, a new line of state-of-the-art Lithium-ion batteries would be designed, produced, and sold under the NovoFuel brand in response to significant market opportunities.
LBE brings advanced battery assembly and production expertise to the partnership, along with extensive contract R&D experience on the latest cell chemistries, cell structures, and battery assembly techniques. The combined patented and proprietary technologies and products of NovoFuel and LBE believe they are well positioned to capture selected Renewable Energy Systems (RES) and advanced battery opportunities in North America and Europe, as well as in Africa and other regions where vital off-grid or grid-supplementing power is needed.
NovoFuel's custom medium capacity Lithium-ion batteries (2.5kW-20kW), designed by LBE, will be efficiently assembled with cost-effective large format prismatic cells instead of the typical small cylindrical cells. In addition to this much cheaper battery assembly process, market differentiators include superior quality and reliability, as well as special safety attributes provided by advanced cell chemistry.
NovoFuel would market these batteries as a stand-alone product for backup power, and as part of its overall hybrid RES solution strategy - which also includes wind turbines on patented monopole towers, solar panels, energy management & control systems, and hydrogen fuel cells fed by NovoFuel's patented and proprietary hydrogen generation technology and products. Target markets include large North American opportunities such as cannabis grow operations, and U.S. sponsored Power Africa rural and remote electrification.
The proposed NovoFuel 2.5kW battery will be designed to provide critical backup power for a variety of applications, including homes, and telecom cell sites - replacing old-technology lead acid batteries which have numerous disadvantages in cycle life, energy density, size, battery management system, and cleanliness of operations.
CEI will provide the manufacturing and assembly of Lithium-ion batteries for NovoFuel. The CEI facility in Oneonta, NY has a 50-year track record as a manufacturer of a wide variety of capacitors and electronic assemblies for global commercial, medical, and defense markets - with a product reputation for reliability and quality. Their integrated hybrid energy storage solutions involving supercapacitors and other electronics capabilities including special small format cells/batteries, can supplement NovoFuel's hybrid RES solutions. Responding to a defense customer, LBE and CEI have developed a new generation of small format Lithium-ion batteries for certain sophisticated military applications.
"This is a major milestone for NovoFuel's Renewable Energy Systems strategy. Discussions with potential customers have validated our new Lithium battery initiatives," said NovoFuel President & CEO, David Cade.