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Firefly batteries set for production in 4th QTR 2007

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  • Noel Adams
    Peoria, IL-based Firefly Energy will have its innovative carbon- graphite foam, lead-acid battery ready for production by the fourth quarter of 2007, following
    Message 1 of 1 , Nov 14, 2006
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      Peoria, IL-based Firefly Energy will have its innovative carbon-
      graphite foam, lead-acid battery ready for production by the fourth
      quarter of 2007, following today's announcement that the Caterpillar
      spin-off has completed a $10 million Series B equity round of
      financing (more information is included in the news release pasted
      below my e-signature).

      The Firefly Energy battery, which introduces the first significant
      improvement on lead acid battery technology in more than 150 years,
      is currently under development for use by the U.S. military and by
      lawn and equipment giant Husqvarna. After its initial production,
      Firefly will work to develop their advanced batteries for hybrid
      electric vehicles and hybrid trucks.

      When compared to the current generation of lead-acid batteries, the
      Firefly Energy battery has clear advantages:

      - four times greater power density or less than 1/4 the weight
      - double the life expectancy
      - seven times faster recharge rate
      - environmentally safer, using 80 percent less lead

      The battery also is 1/10th the manufacturing cost of nickel metal
      hydride and lithium ion options.

      Milwaukee, WI-based Stark Investments is the latest company to back
      Firefly, joining supporting businesses from Illinois: Caterpillar, KB
      Partners, the Illinois Finance Authority and the Tri-County Venture
      Capital Fund.
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