Firefly Energy Expands Board of Directors
Posted on January 6th, 2006
Firefly Energy Inc. (www.fireflyenergy.com) formed to create the next generation of lead acid battery technology based on a material sciences innovation discovered by Caterpillar Inc., today announced the addition of two new members to its board of directors. They are Mark Pflederer, vice president with responsibility for the Technology & Solutions Division and chief technology officer of Caterpillar and Mak Mirhakimi, general manager for Caterpillar’s OEM Solutions Group.
“It is clear that Mark and Maks’ extensive engineering and new product development experience will be invaluable to Firefly Energy,” said Edward F. Williams, CEO of Firefly Energy. “Both executives have fostered a culture of excellence within Caterpillar, contributing to this company’s industry leadership position. We look forward to their tenured knowledge enhancing Firefly Energy’s strategies and execution as we bring innovative battery products to market.”
Pflederer and Mirhakimi join six other prominent leaders from industry, finance and government on the Firefly Energy board.
About Firefly Energy (www.fireflyenergy.com):
Firefly Energy Inc. (“Firefly”) is in the business to produce and license advanced lead-acid battery technologies, which hold the opportunity for a major impact in the $30 billion worldwide battery market. The battery technology can deliver a combination of high performance and extremely low weight along with reduced cost using a traditional but non-corrosive lead-acid chemistry. Firefly’s technology delivers a performance associated with advanced materials (Nickel Metal Hydride & Lithium) at a cost similar to lead acid batteries. The company was launched as a spin-out from Caterpillar (www.cat.com) on May 1, 2003, and is headed by co-founders Edward Williams (CEO), Mil Ovan (Senior VP), and Kurtis Kelley (Chief Scientist). Investors include Caterpillar (NYSE: CAT), BAE Systems (www.baesystems.com) (London Stock Exchange over the counter symbol: BAESY), Chicago-area Venture Capital firm KB Partners (www.kbpartners.com), the State of Illinois’ Illinois Finance Authority, and Electrolux (www.electrolux.com) (SSE: ELUX-B).
