Peoria-based Start-up Lands Military Battery Contract

The company's first-ever military contract is part of more than $280 million in federal spending bound for Illinois this year under a defense bill recently signed by President Bush.

Published: 26-Jan-2006

A Peoria company founded less than three years ago has landed a $2.5 million contract to develop its new generation of lighter, more powerful batteries for the U.S. military, officials said Tuesday.

Firefly Energy Inc. officials say the deal could ultimately put the fledgling company in line for supply contracts that amount to about $35 million a year for Army vehicle batteries alone.

"There's a big market. They're going through batteries ... in Iraq like crazy," said Mil Ovan, Firefly's senior vice president and co-founder.

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