One of the main proponents of Firefly Energy receiving loan guarantees from the City of Peoria and Peoria County believes the technology is not dead yet. Firefly Energy CEO Ed Williams has announced plans to file for bankruptcy and shut down.
73rd District State Representative Dave Leitch urged both the Peoria County Board and City Council to guarantee to six-million dollar loan in 2007. Leitch thinks the product Firefly was trying to market will be back. He says everyone believes in the technology, but the right pieces have yet to be put in place. He called the recent announcements as a time to regroup.
Williams says Firefly had been working for 15 months to raise $20-million to enable the transition to full production and commercial sales. He says now that the efforts failed the only viable option is to go out of business.
