Storing lithium products, especially lithium-ion batteries, involves certain fire hazards due to their chemical properties and energy density. Here are some key points regarding these hazards:

Chemical Reactions:
Thermal Runaway: This is a significant risk where an increase in temperature causes further reactions, leading to even higher temperatures. This cycle can result in fire or explosion if not controlled.
Oxygen Release: Lithium can react with moisture in the air, potentially releasing oxygen which can then support combustion.

Specific Hazards:
Overheating: Lithium batteries can overheat if they are damaged, short-circuited, or if there’s an internal manufacturing defect.
Physical Damage: Any puncture or crush can lead to short circuits inside the battery, initiating thermal runaway.
Charging Issues: Overcharging or using an incompatible charger can cause overheating.
Incompatible Storage: Storing batteries near flammable materials or in environments where they can be exposed to extreme temperatures can exacerbate risks.

Mitigation Strategies:
Proper Storage:
Keep lithium products in a cool, dry place away from direct sunlight.
Use fire-resistant containers or cabinets designed for battery storage.
Avoid stacking batteries if possible, to prevent pressure points that could lead to damage.
Temperature Control:
Maintain storage temperatures between 15°C to 25°C (59°F to 77°F) where possible.
Isolation:
Store batteries away from other chemicals or reactive materials.
Ensure there’s enough space between units to prevent the spread of fire.
Monitoring and Equipment:
Use smoke detectors and consider installing specific gas detectors for lithium fires since they can produce toxic gases like hydrogen fluoride.
Have appropriate fire suppression systems; water might not be effective for lithium fires, so consider dry powder agents or specialized fire blankets.
Regular Checks:
Inspect batteries for signs of damage, swelling, or leakage. Damaged batteries should be handled with care and disposed of according to local regulations.

Emergency Response:
In case of a fire, do not use water unless it’s specifically treated for lithium fires; use Class D fire extinguishers or sand to smother the fire.
Evacuate the area and call emergency services immediately if a fire breaks out.

Regulatory and Best Practices:
Follow local regulations for the storage of lithium batteries, which might include specific guidelines on quantity, type of storage, and emergency procedures.

Understanding these hazards and implementing safety measures can significantly reduce the risk of incidents when storing lithium products. If you deal with large quantities or commercial storage,
it might be beneficial to consult with safety experts or adhere to industry standards like those from NFPA (National Fire Protection Association) or
UL (Underwriters Laboratories) for detailed guidance.