Encell was founded to enable the lowest cost for flexible electricity storage while at the same time being environmentally and socially responsible. The Company achieved this objective with the commercial release of its nickel iron (“NiFe”) batteries based on its proprietary Fused IronTM technology and an advanced 21st century design of the NiFe battery. Traditional nickel iron batteries, invented and championed by Thomas Edison, have been known for their incredibly long cycle-life, abuse tolerance, and safety for 118 years. Encell has redesigned the NiFe battery and dramatically improved the chemistry’s performance through more than a decade of research and development. Encell’s advancements include even longer cycle life, much better efficiency, higher rate capability, and significantly lower production costs. These advancements have resulted 113 U.S. and foreign patents pending, and 25 U.S. and 10 foreign patents issued. Encell’s NiFe batteries long cycle-life, coupled with its low upfront cost, driven by the abundant availability of the core raw materials, results in the lowest cost of storage (“LCOS”) available today. Encell’s LCOS enables, for the first time, an economically viable solution for the disintermediation of the supply of power from a historically based fossil fuel, and heavily regulated central distribution model to a modern renewable energy driven decentralized smart grid.