Firefly Energy, Inc. Joins the Electric Drive Transportation Association
WASHINGTON--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 EDTA 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) , 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.