In the words of EarthQuaker Devices:

Sunn O))) and EarthQuaker Devices are pleased to bring you the Life Pedal Volume III. The Life Pedal V3 circuit has been meticulously tweaked from the original to squeeze every last drop of heavy crushing tone available. The octave section has been fine tuned to make it more pronounced without losing the bottom end and we added a third footswitch, utilizing Flexi-Switch Technology, for the octave to allow an additional method of quick and radical tone shaping. We are excited to have this back in permanent production, it is a true labor of love.