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Lithium Iron Phosphate Is Non-Toxic, Heat-Tolerant and Generally Safer for In-Home Installations than Lithium Ion
SAN DIEGO, CA / ACCESSWIRE / March 2, 2021 / NeoVolta Inc. (OTCQB:NEOV) - NeoVolta home energy storage systems are equipped with lithium iron phosphate (LiFePO4) battery chemistry. These cells are non-toxic, non-combustible, and more stable during overcharging or short-circuit conditions, allowing them to withstand higher temperatures.
Many energy storage competitors use a battery chemistry called lithium ion, which is mainly used in electric vehicles and consumer electronics due to its low cost, light weight and high energy density. However, these batteries pose a serious risk of thermal runaway. This is where a sudden increase in battery temperature causes a chain reaction that leads to total battery failure and possible combustion. Lithium ion battery fires are an ongoing problem for electric vehicles, recycling plants and e-cigarettes, among others.
Lithium ion has also been shown to have safety issues in home energy storage systems. One solar battery manufacturer recently launched a recall after five reports of "thermal events" where its lithium ion batteries caused property damage. The company explained that cells from specific lots were at risk of overheating, which could lead to fires and dangerous smoke.
NeoVolta's systems use the safe alternative: lithium iron phosphate. This chemistry provides superior thermal stability and reduces the risk of combustion while extending the life of the battery. Lithium iron phosphate is also clean and does not contain cobalt or other toxic substances.
"Most people wouldn't choose to put a toxic fire hazard in their home," said NeoVolta CEO Brent Willson. "Why do that with a storage battery? Our smart energy storage systems are engineered with a focus on safety."
NeoVolta also combines safety with performance. Its flagship NV14 energy storage system has a very high storage capacity of 14.4 kilowatt-hours, expandable to 24.0 kWh with the optional NeoVolta V24 battery-without the expense of a second inverter. NeoVolta's inverter discharges 7.7 kilowatts of instantaneous power, more than most competitors in its class. This combination of high storage capacity and high-power output maximizes the NV14/NV24's capability for backup power and utility savings.
For its safety, performance and compatibility with any solar system, new or existing, NeoVolta NV14 has been named one of Solar Power World's top storage products two years in a row.
About NeoVolta - NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage systems capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery system, a 7,680-Watt inverter and a web-based energy management system with 24/7 monitoring. By storing energy instead of sending it back to the grid, consumers can protect themselves against blackouts, avoid expensive peak demand electricity rates charged by utility companies when solar panels aren't producing, and get one step closer to grid independence. Customers can expand the NV14's capacity to an industry-leading 24.0 kWh with the optional NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is working on other industry leading improvements that will be announced soon.
Forward-Looking Statements: Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the future performance, reliability and safety of NeoVolta's NV14 storage system and the ability of the NV14 to be successfully integrated with residential backup generators. Although NeoVolta believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. NeoVolta has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the "Risk Factors" section of NeoVolta's Form 1-A filing filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. NeoVolta undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.