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Firefly Energy joining EDTA :: details

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  • Remy Chevalier
    Firefly Energy joining the Electric Drive Transportation Association (EDTA). In case you haven t heard of Firefly, the company is a spin-off of Caterpillar,
    Message 1 of 1 , Nov 13, 2006
      Firefly Energy joining the Electric Drive Transportation Association (EDTA).

      In case you haven't heard of Firefly, the company is a spin-off of
      Caterpillar, Inc., out of Peoria, IL, and has developed a new
      carbon-graphite foam lead acid battery technology.

      This is the first advancement in lead-acid batteries, a technology that's
      remained relatively unchanged since before the Civil War. Changes made by
      Firefly have lead-acid batteries a viable technology for future hybrid
      electric vehicles. The Firefly Energy battery has some key advantages
      compared to lead acid batteries currently on the market. The Firefly

      1) uses 80 percent less lead and thus is one quarter of the weight
      2) has a recharge rate that is seven times faster
      3) is more resistant to corrosion
      4) has double the life expectancy
      5) is safer for the environment when discarded at the end of its life cycle

      And, the Firefly battery stands out compared to the other popular
      alternatives of nickel metal hydride (NiMH) and lithium, as it is one-tenth
      the cost for manufacturers compared to NiMH and is much safer than unstable
      lithium technology.

      If you are interested in setting up a time to speak with Firefly Energy
      co-founders Mil Ovan and/or Ed Williams, feel free to contact me anytime and
      I will be happy to arrange an interview.

      Thank you for your time and consideration,

      Dan Green
      Media Relations Manager
      Tech Image, Ltd. - for Firefly Energy
      Office: 847-279-0022, ext. 239
      Mobile: 847-910-2731
      dan.green@ techimage.com

      Firefly Energy, Inc. Joins the Electric Drive Transportation Association

      October 31, 2006-Washington, DC-Firefly Energy, Inc., an Illinois-based
      company which has developed a next-generation lead acid battery technology,
      has joined the Electric Drive Transportation Association (EDTA), a
      Washington, DC -based trade association that represents battery, hybrid and
      fuel cell electric drive technologies.

      "Advanced batteries technologies are a critical piece of the future of
      electric drive transportation," says EDTA President Brian Wynne. "Firefly's
      carbon-graphite foam lead acid battery brings a unique technology to the $30
      billion worldwide battery marketplace."

      "Our battery technology delivers a performance associated with advanced
      battery chemistries, while reducing weight and increasing range and life,"
      says Mil Ovan, Senior Vice President and co-founder of Firefly. "Membership
      in EDTA gives us the opportunity to reach new customers and partners, and to
      work with the government to advance electric drive transportation policies
      in Washington." Firefly's membership in EDTA comes on the heels of the
      company's announcement that it had been tabbed for an appropriation of $3.25
      million in the Fiscal Year 2007 U.S. Defense Bill. Mr. Ovan will be
      speaking at the November 26-29th ETDA conference on "Defending our Future:
      Preparedness and National Security".

      About EDTA:

      EDTA is the preeminent U.S. industry association dedicated to the promotion
      of electric drive as the best means to achieve a secure and sustainable
      transportation sector. As a unified voice for the electric drive industry,
      EDTA's membership includes a diverse representation of vehicle and equipment
      manufacturers, energy providers, component suppliers and end users. EDTA
      supports the commercialization of all electric drive transportation
      technologies through public policy advocacy, research and education,
      industry networking, and international conferences and exhibitions. For more
      information on EDTA, visit www.electricdrive.org

      About Firefly Energy, Inc.:

      Firefly Energy (www.fireflyenergy.com) is a Peoria, Illinois-based company
      which has developed a next generation lead acid battery technology that has
      the opportunity to address major portions of the $30 billion worldwide
      battery marketplace. Firefly's carbon-graphite foam-based battery technology
      can deliver a unique combination of high performance, extremely low weight
      and low cost, all in a battery which utilizes the best aspects of lead acid
      chemistry while overcoming the corrosive drawbacks of this same chemistry.
      This product technology delivers to battery markets a performance associated
      with advanced battery chemistries (Nickel Metal Hydride and Lithium), but
      for one-fifth the cost, and can be both manufactured as well as recycled
      within the existing lead acid battery industry's vast infrastructure. The
      company was formed after its technology, technical founder, and initial seed
      funds were spun out of Caterpillar, Inc. (www.cat.com), a Fortune 90
      company, in May 2003, and is headed by co-founders Edward Williams (CEO),
      Mil Ovan (Senior VP), and Kurtis Kelley (Chief Technology Officer).
      Investors include Caterpillar (www.cat.com) (NYSE: CAT), BAE Systems
      (www.baesystems.com) (London Stock Exchange over the counter symbol: BAESY),
      Chicago-area Venture Capital firm KB Partners (www.kbpartners.com), the
      State of Illinois' Illinois Finance Authority, and Husqvarna
      (www.husqvarna.com). (Other OTC: HSQVY.PK). In 2006, Firefly was named
      winner of both the Frost & Sullivan Technology Innovation Award and Frost's
      Energy Storage Entrepreneurial Storage Company of the Year Award.
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