The Peoria, Ill., startup capped off a $16 million third round of funding to continue developing and marketing its carbon and graphite foam-based battery technologies for commercial and military use. Khosla Ventures and Infield Capital, which signed on as new investors to lead the deal, were joined by Stark Capital, Caterpillar and other previous investors.
Firefly, which claims its lead acid batteries are cheaper, lighter and more powerful than conventional ones, will release the Oasis battery this summer. Intended for use in long-haul trucks, the battery will power sleeper cabs when the truck’s diesel engine is idling to reduce fuel emissions. This idea isn’t totally unique; Glacier Bay intends to do the same thing with small generators.
