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Firefly Energy raises $16M for powered-up lead acid batteries
Jeremy Jacquot | May 5th, 2008 |
The Peoria, Ill., startup capped off a $16 million third round of funding to continue developing and marketing its carbon and graphite foam-based battery technologies for commercial and military use. Khosla Ventures and Infield Capital, which signed on as new investors to lead the deal, were joined by Stark Capital, Caterpillar and other previous investors.

Firefly, which claims its lead acid batteries are cheaper, lighter and more powerful than conventional ones, will release the Oasis battery this summer. Intended for use in long-haul trucks, the battery will power sleeper cabs when the truck’s diesel engine is idling to reduce fuel emissions. This idea isn’t totally unique; Glacier Bay intends to do the same thing with small generators.

With more states adopting tougher anti-idling regulations, the company sees a lot of room for growth. Oasis should also help provide some relief to truck drivers angry over high diesel costs by improving fuel efficiency. Firefly claims it will provide a 50% run time boost over competitors’ batteries.

The company has also released a battery designed for the plug-in hybrid market, which should play well with growing consumer demand for more fuel efficient vehicles and the recent release of Hymotion’s plug-in hybrid kit. It has received over $3.2 million in federal funding from the DOE to develop its 3D advanced batteries.

http://venturebeat.com/2008/05/05/firefly-energy-raises-16m-for-powered-up-lead-acid-batteries/