LiFePO4 (Lithium Iron Phosphate) and NMC (Nickel Manganese Cobalt) are both types of lithium-ion battery chemistries. LiFePO4 is known for its safety and long cycle life. It's less energy-dense than NMC, but it's thermally stable and doesn't degrade as quickly. Often used in solar energy storage and some electric vehicles, it operates at a lower voltage (typically around 3.2V per cell). NMC, a higher energy density option, is used extensively in electric vehicles and portable electronics. It operates at around 3.7V per cell and offers better weight-to-energy ratios but can be more prone to thermal runaway.