Firefly Energy Closes Series B $10 Million Equity Financing

Firefly Energy Inc., the Peoria-based spin out of Caterpillar Inc. now developing a carbon-graphite foam lead acid battery for commercial and military uses, recently announced it has completed a $10 million Series B equity round of financing.

Participating in this equity round is new investor Stark Investments, LP, as well as existing investors Caterpillar, KB Partners, the Illinois Finance Authority and the Tri-County Venture Capital Fund.

Firefly Energy will use its new capital to accelerate product development, expand existing lab facilities, implement manufacturing partnerships, advance product awareness in new markets, and continue the support of commercial and military customers.

“The level of interest from our current and new investors reinforces the momentum we’re seeing in the marketplace for next generation battery performance that utilizes safe, cost-effective, lead-acid battery chemistry,” said Edward F. Williams, Chief Executive Officer of Firefly Energy. Regarding the newest financing, Williams said “The additional capital provides the financial depth and support Firefly Energy will need as our accelerated growth continues in these markets hungry for innovative energy storage solutions.”

For more Information, visit: www.fireflyenergy.com