Venture-backed battery technology company Firefly Energy signs manufacturing contract with C&D Technologies.

28 October 2008

Venture-backed battery technology company Firefly Energy has signed a manufacturing contract with electric power storage business C&D Technologies.

The contract concerns Firefly-designed battery products for the trucking and off highway equipment markets. Firefly’s microcell technology provides the trucking industry and fleets with a fuel-saving alternative for powering their trucks’ hotel loads and HVAC systems.

C&D is a North American producer and marketer of electrical power storage and conversion systems used in telecommunications, uninterrupted power supply systems, utility and other high reliability applications.

In June, Firefly completed a $15m Series C equity round of financing led by Quercus Trust, Khosla Ventures and Infield Capital. The new investors joined existing Firefly Energy investors Caterpillar, BAE Systems, Husqvarna, KB Partners, the Illinois Finance Authority and the Tri-County Venture Capital Fund.

Firefly CEO Ed Williams said, ‘We will continue to focus on product technologies, design, development and testing that compresses product development schedules while enhancing product quality and performance. We are delighted to be associated with a company of C&D’s caliber, given the stringent requirements which C&D has long met in producing batteries of the highest quality for demanding telecom and data protection customers.’

Dr Jeffery Graves, president and CEO of C&D Technologies, added, ‘Innovative technologies and innovative manufacturing techniques are being combined to produce a customer solution that is environmentally friendly, as it reduces the emissions from engine idling or diesel auxiliary power units. C&D is committed to energy storage products, processes and enterprises that preserve our environment. We look forward to a fruitful partnership with Firefly Energy.’

Copyright © 2008 NEWNet

Tags: energy storage, fuel cell, venture capital

This story was published on Tuesday, October 28th, 2008 at 3:03 pm and is filed under North America, deals, energy storage. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply