NovoFuel (operating subsidiary of AlumiFuel Power Corp.) is a renewable energy company in the late development/early production stage which fields advanced energy technologies for a wide variety of backup and portable power applications.
Augmenting our patented hydrogen generation technology, NovoFuel is pursuing a number of hybrid Renewable Energy Systems (RES) opportunities. Target market applications include small business & home backup power, telecom cell sites, power-hungry medical cannabis grow operations, and a variety of outdoor applications where grid power is unavailable or insufficient — including farming, mining and oilfield operations, as well as rural and remote off-grid electrification needs in developing countries.
• NovoFuel has assembled a world-class team to field an array of RES components, including wind turbines, solar panels, high capacity lithium-ion batteries, hydrogen fuel cells, and a real-time energy management and control system.
• NovoFuel’s most exciting new market initiative involves a key component of our hybrid RES solutions — high capacity lithium-ion batteries (2.5kW-20kW and beyond). Through our partners, Lithium Battery Engineering, LLC (www.lithiumbatteryenginering.com) and Custom Electronics, Inc. (www.customelec.com), a new line of state-of-the-art high capacity lithium-ion batteries have been designed, and prototypes are now being produced under the NovoFuel brand in response to rapidly expanding backup power market opportunities. According to a 2015 forecast by Lux Research, the stationary energy storage market will climb from $1.5 billion in 2016 to $6.5 billion in 2020. Market entry is planned for 2-3Q 2016.
• The NovoFuel battery has a strong value proposition vis-à-vis the competition: (1) U.S. made product; (2) optimum engineering solutions; (3) more cost effective battery assembly process through use of fewer large format flat cells instead of many small cylindrical cells; (4) use of a safer cell chemistry; (5) ability to move more swiftly to meet customer’s needs; (6) superior service; and (7) competitive prices.
• NovoFuel’s proforma financials for battery production and sales reflect a very attractive business case.