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Sad news for those of you waiting for a next-gen lead acid battery. It isn't coming. At least not from Firefly Energy. Originally spun off from Caterpillar, the Illinois company had developed a carbon graphite foam lead-acid battery that was supposed to have a bright future in the military and trucking industry. Instead, the company has just filed for Chapter 7 bankruptcy.

The carbon-graphite foam, lead acid batteries created by Firefly Energy are a bit closer to production now that the company today announced a MoU with lead acid battery maker NorthStar Battery Company. This agreement means Firefly's 3D batteries should be in production by the fourth quarter of this year.

As we mentioned the other day, Firefly Energy is setting out to change the way we think of lead-acid batteries. Mil Ovan, Firefly Energy co-founder, spoke with AutoblogGreen about this new battery technology and what it might mean for PHEVs and EVs.

Firefly Energy Inc., of Peoria, Ill has patented a new type of lead acid battery they claim would be an excellent choice for hybrid and electric vehicle use. The battery is of a lead acid design, but differs from traditional lead acid batteries by using a carbon-graphite foam grid instead of a conventional lead grid. They claim that this will reduce weight significantly, ease manufacturing concerns, allow the batteries to charge quicker and increase the available form factors of conventional lea