Batteries > Electrolux signs on as first customer for Firefly's advanced lead acid battery - Technology replaces the heavy lead metal historically utilized in lead acid batteries with an advanced composite material, minimizing end-of-life corrosion, maximizing battery power/energy. (BusinessWire; June 22)
At the Bizwire site: June 22, 2005 04:00 AM US Eastern Timezone
Firefly Energy and Electrolux Professional Outdoor Products Group Sign Agreement; First Customer for Advanced Battery Technology
PEORIA, Ill.--(BUSINESS WIRE)--June 22, 2005--Firefly Energy Inc., formed to create the next generation of lead acid battery technology based on a material sciences innovation discovered by Caterpillar Inc. (NYSE:CAT), today announced the company has entered into an agreement to develop and produce its revolutionary battery technology on an exclusive basis for select upcoming outdoor lawn products sold by Electrolux Outdoor Products (SSE:ELUX-B). Firefly will receive USD 1.7 million in equity and engineering funding, to develop the first version of its advanced lead acid battery for Electrolux.
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