Firefly Energy Announces Key Personnel Appointments
Posted on June 22nd, 2004

Moves Further Strengthen Management Team and Advisory Board

Peoria, IL – June 22, 2004 – 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 appointment of Eric Dix to the position of Vice President of Engineering, and Michael Kepros to the company’s Advisory Board.

Eric Dix brings to Firefly Energy 22 years of leadership experience in designing, developing and commercializing highly engineered chemical products and processes. This includes 10 years in advanced rechargeable battery technology applications, product design and new technology commercialization. Dix has extensive management experience in R & D, Product Engineering, Process Engineering, Product Marketing, Equipment Engineering, Quality Systems and Manufacturing Operations. “Eric has been at the forefront in taking advanced battery technologies from beaker to full volume production,” said Ed Williams, Chief Executive Officer of Firefly Energy. “Our objective is to innovate not only in terms of battery performance but also in advanced manufacturing techniques. Eric’s expertise will help Firefly ensure these critical objectives are met”, Williams concluded. Dix had recently served with Ultralife Batteries as Vice President of Technology, successfully leading the commercialization of their advanced lithium ion polymer battery program. He was subsequently promoted to Vice President and General Manager of the Rechargeable Battery Division at Ultralife. Immediately prior to joining Firefly Energy, Dix led the R&D and Engineering departments at the $100 million Advanced Films Division of Saint Gobain.

Firefly also announced the appointment of Michael Kepros to the company’s Advisory Board. Kepros brings over 30 years of experience in research and development of electrochemical energy storage systems. His battery expertise covers both primary (i.e., non-rechargeable) as well as secondary (i.e., rechargeable) battery technologies. “Mike Kepros brings a tremendous depth and breadth of experience in terms of the subtle yet critical nuances of battery chemistries” said Mil Ovan, Senior Vice President and co-founder of Firefly Energy. “We’re delighted that yet another expert of this caliber sees the vast potential of Firefly’s technology and wants to become an active part of our continued success” Ovan concluded.

Kepros joins existing Advisory Board members Dr. Robert Nelson, founder of the Advanced Lead Acid Battery Consortium (ALABC), and Chuck Mahan, former Lieutenant General of the U.S. Army, who was responsible for the entire Army's logistics.

For more information, contact Mil Ovan, Senior Vice President and Co-Founder, Firefly Energy Inc. at 309.999.1081 or movan@fireflyenergy.com.

About Firefly Energy (www.fireflyenergy.com): Firefly Energy Inc. (“Firefly”) is in the business to produce and license advanced lead-acid battery technologies. Firefly Energy’s technology was created by Caterpillar Inc. as part of its $600+ million annual research & development operations. Firefly has developed a next generation lead-acid battery technology that has the opportunity for a major impact in the $30 billion worldwide lead-acid 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).