Firefly Energy Inc. has increased its power. The battery firm that moved officially to its new home at 6533 N. Galena Road today will now allow the high-tech spinoff of Caterpillar Inc. to manufacture battery components in addition to expanding its research efforts. Firefly Energy Inc. • Origin: Peoria-based battery company was started with technology spun out of Caterpillar Inc. in 2003. • Goal: To develop a lightweight, high-tech lead acid battery to provide a more efficient and longer-lasting power source for a variety of vehicles. • Market: The lead acid battery represents a $25 billion market worldwide. • Accomplishments: Firefly has contracts with the U.S. Army on developing a battery for use in military vehicles. The company also looks to enter the truck market with its Oasis battery early next year. • Employees: 45 • Opening: Firefly cuts the ribbon on its new facility at 6533 N. Galena Road at noon today. "We're running prototype batteries now but our goal is to be in full production by the first quarter of 2009," said CEO Edward Williams. Full production could mean providing foam components for up to 200,000 batteries a year, he said. The lightweight foam component would be shipped to battery manufacturers around the country for inclusion in the finished battery, said Williams. The first product off the Firefly assembly line is the company's Oasis truck battery, designed to take advantage of the huge U.S. truck market, ...
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Firefly Energy Inc. has increased its power. The battery firm that moved officially to its new home at 6533 N. Galena Road today will now allow the high-tech spinoff of Caterpillar Inc. to manufacture battery components in addition to expanding its research efforts. Firefly Energy Inc. • Origin: Peoria-based battery company was started with technology spun out of Caterpillar Inc. in 2003. • Goal: To develop a lightweight, high-tech lead acid battery to provide a more efficient and longer-lasting power source for a variety of vehicles. • Market: The lead acid battery represents a $25 billion market worldwide. • Accomplishments: Firefly has contracts with the U.S. Army on developing a battery for use in military vehicles. The company also looks to enter the truck market with its Oasis battery early next year. • Employees: 45 • Opening: Firefly cuts the ribbon on its new facility at 6533 N. Galena Road at noon today. "We're running prototype batteries now but our goal is to be in full production by the first quarter of 2009," said CEO Edward Williams. Full production could mean providing foam components for up to 200,000 batteries a year, he said. The lightweight foam component would be shipped to battery manufacturers around the country for inclusion in the finished battery, said Williams. The first product off the Firefly assembly line is the company's Oasis truck battery, designed to take advantage of the huge U.S. truck market, ...