NovoFuel, Inc.
NovoFuel, Inc. Logo
Merion Station, PA 19066, US
Alternative & Renewable Energy
www.alumifuelpowercorp.com
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.
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Summary
Prior Year Revenue Current Year Revenue Next Year Revenue
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Company Age Employees Sub-Industry
8 years, 4 months 3 Other Alternative & Renewable Energy
Products / Services
NovoFuel high capacity lithium-ion batteries and hybrid Renewable Energy Systems solutions.
NovoFuel is producing and marketing high capacity lithium-ion batteries (2.5kWh- 20kWh) as a stand-alone product for backup power, and as part of its overall hybrid Renewable Energy Systems (RES) solutions -- which also include 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. The NovoFuel RES components are designed to provide critical backup power for a variety of applications, including homes, small businesses, telecom sites, power-hungry medical cannabis grow operations, as well as many rural and remote applications where grid power is unavailable or insufficient.
Management
President Executive Officer
David J. Cade
David J. Cade• 22years as executive in renewable energy field
• 20 years experience as successful CEO, 18 years in public companies
• Brought lithium battery company and hydrogen generation company from development stage to production stage
• Previous management positions with AT&T, Martin Marietta, COMSAT, InterDigital Communications, and DoD
Battle-tested and proven CEO in the high technology arena with subject matter expertise across all functional areas, extensive business/financial community relationships, and solid track record in maximizing shareholder value. Known for innovation, ingenuity, initiative and persistence. Senior leadership roles in development/expansion stage companies, with special industry focus on: alternative energy (including hydrogen fuel and lithium batteries), wireless telecommunications, electronics, and national security systems.
General Technology Officer
John F. Boyle
• One of nation’s foremost experts in industrial gas applications, systems design, engineering, safety and innovative technologies/products
• Over 30 years experience in industrial gas industry – 18 years with Air Products in various engineering and executive capacities
• Natural Gas and Hydrogen industry safety codes based on his analyses & designs
Technical direction, engineering and safety support for the development systems to generate gaseous hydrogen utilizing the aluminum-water shift reaction. Directs the technical portfolio in support of the business objectives. Develops hydrogen generation systems and applications-specific equipment.
Provides consulting services to the industrial gas industry including application system design, market assessments, site and system safety reviews, and work process improvement.
Investors / Lenders
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Individual Investor
AlumiFuel Power Corporation
AlumiFuel Power CorporationPublicly traded parent company has provided all NovoFuel funding to dat
