Advanced Battery Pioneer Joins Firefly Energy Team.

PEORIA, Ill. -- 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 Dr. Robert Nelson, an industry expert in valve-regulated lead-acid (VRLA) battery product development, is moving from Firefly's Technology Advisory Board to become the company's full-time Vice President of Engineering. Dr. Nelson's move to be a permanent member of the Firefly team extends the Company's strategy to assemble a world class product development team.

"Bob's move from advisory board member to full-time executive of Firefly exemplifies the excitement that's building around the potential of Firefly to revolutionize lead acid battery technology," said Edward F. Williams, CEO of Firefly Energy. "His extensive experience and knowledge in the science of lead-acid chemistry has long been recognized by the automotive industry and Firefly's other target battery product markets. This experience, along with his achievements in leading technical battery product development teams, will significantly enhance Firefly Energy's success in bringing innovative battery products to market."

Dr. Nelson has spent 26 years in research and industry involved with VRLA batteries. For the last 7 years, he has been an independent consultant specializing in technology analyses, VRLA battery design and manufacturing optimization and trouble-shooting. He has also been an Expert Witness involving the use and misuse of VRLA batteries. He recently formed a design/manufacturing process and equipment Group to address the development of VRLA products for independent companies. Prior to this, Dr. Nelson was Vice President of Technology at Bolder Technologies, finishing up the development of their ultrathin-plate VRLA technology, targeted at high-power applications such as power tools and engine starting, including SLI batteries. Previously he spent three years with the International Lead Zinc Research Organization (ILZRO), where he was responsible for launching the Advanced Lead-Acid Battery Consortium (ALABC) and managing the first 3-year/$20 million research phase. His earlier experience includes Director of Technology for Portable Energy Products, where he helped develop their Planar Cell technology; and 13 years with Gates Energy Products, overseeing the development and successful commercialization of a variety of flat-plate and spiral-wound VRLA products for industrial applications.

"Firefly has excellent potential to bring category-changing new battery products to market, with a prototype product already winning market-leading customers," said Dr. Robert Nelson. "I decided to become involved with this technology on a daily basis as VP of Engineering because I am fascinated with its many differences from conventional VRLA technology and because of its potential to push the performance envelope for lead acid chemistry much closer to both nickel- and lithium-based chemistries. I look forward to contributing my experience to advance Firefly's product development and ultimately contributing to the success of the company."

Dr. Nelson received a B.A. Degree in Chemistry (Cum Laude) from Northwestern University in 1963 and a Ph.D. from the University of Kansas in 1966 with a major in Analytical Chemistry/Electrochemistry. He spent eleven years of university teaching and researching, producing 37 refereed journal articles and publishing two book chapters, and earned recognition as an international expert in the field of organic electrochemistry/spectroscopy. In the last 26 years, he has given numerous presentations at international conferences and has published 48 research papers in various conference proceedings and research journals. He has an international reputation in VRLA technology, particularly in glass-mat separators and thin-plate designs that are optimized for high power and long life.

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 technology can deliver a disruptive combination of high performance, extremely low weight and reduced cost in a battery utilizing 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 on May 1, 2003, and is headed by co-founders Edward Williams (CEO), Mil Ovan (Sr. VP), and Kurtis Kelley (Chief Scientist). Investors include Caterpillar, BAE Systems (London Stock Exchange NQB: BAESY), Chicago-area Venture Capital firm KB Partners, the State of Illinois' Illinois Finance Authority, and Electrolux (SSE: ELUX-B).