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Will the higher voltages damage the light?


The little Fenix LOD will get quite warm using the 10440 cell on the high setting. I would only really use the high seting for only short periods i.e. less than 5 minutes at a time. The Stobe mode on high at 120 Lumen is powerful enough to be used to disorientate and distrupt night vision as a defensive option.
On the low setting the Fenix can sometimes give a noticable flicker using the 10440 cell. The medium seting is best though giving about the same output as the high setting using a Energiser Lithium Primary AAA (which are expensive single use cells). You should have no problem with the SOS mode, which is great for emergency signalling and should give over an hours use using the 10440 cell. I generally keep a spare Energiser AAA with the LOD as well simply because of the longer run time on low mode compared to the 10440 and is better suited for personal tasking with its lower output.