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Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) is a pioneering manufacturer of deep-cycle lithium-ion batteries that cater to a diverse range of applications including RVs, marine vessels, and off-grid solar systems. Headquartered in Nevada, the company has established itself as a leader in the market with its innovative, non-toxic Lithium Iron Phosphate (LFP) batteries, designed to replace traditional lead-acid batteries.
The company's LFP batteries offer numerous advantages, such as being environmentally friendly, non-toxic, and not reliant on scarce or controversial metals. These batteries are highly cost-effective, provide significant weight savings, and deliver up to three times the power and five times faster charging compared to conventional batteries. They also boast a longer lifespan, lasting over ten times longer than traditional batteries, and are maintenance-free.
Dragonfly Energy has filed and holds over 85 patents, showcasing its strong commitment to research and development. The company's innovative battery technology is fundamental to its new ventures into the off-grid solar sector. Partnering with companies like Ameresco and Connexa, Dragonfly Energy is now expanding into industrial remote applications, offering self-sustaining, reliable, and scalable solar energy storage solutions.
The company is also known for its stringent safety and quality standards. Its batteries undergo rigorous testing and have received multiple certifications, including ETL Listing by Intertek Lab, and conformance to UL, CSA, and UN standards. This dedication to safety and quality allows Dragonfly Energy to seamlessly transition into new markets, setting it apart from competitors.
With the stationary battery storage market expected to reach $870 billion by 2032, Dragonfly Energy is strategically positioned to capitalize on this growth. Its diverse product line addresses various energy needs, making it a key player in the renewable energy sector. The company's Battle Born Batteries are already gaining traction in the RV industry, being adopted as standard equipment by luxury coach divisions.
Dragonfly Energy's commitment to innovation and sustainability makes it a pivotal company in the renewable energy landscape. Its focus on developing solid-state lithium-ion cells and vertically integrated energy solutions ensures it remains at the forefront of the industry.
Dragonfly Energy (Nasdaq: DFLI), maker of Battle Born Batteries® and an energy storage leader, will release its Q3 2024 financial results on November 14, 2024, after market close. The announcement will be followed by a conference call at 5:00 PM Eastern Time. Investors can access the live webcast through the company's investor relations website or join via telephone by dialing (800) 549-8228 (North America) or +1 (289) 819-1520 (International) with conference ID: 64729.
Dragonfly Energy (NASDAQ: DFLI) reported Q2 2024 financial results, highlighting strategic partnerships and market expansion. Key developments include:
1. A $30 million licensing agreement with Stryten Energy for Battle Born Batteries®
2. Partnership with Highway Transport to integrate all-electric APUs into 500+ trucks
3. Collaboration with Fraserway RV and Meyer Distributing to expand RV market presence
Financial highlights:
- Net Sales: $13.2 million (down from $19.3 million in Q2 2023)
- Gross Profit: $3.2 million
- Net Loss: $(13.6) million
- EBITDA: $(8.4) million
Q3 2024 Guidance:
- Net Sales: $13.5 - $15.0 million
- Gross Margin: 24% - 26%
- Operating Expenses: $(10.0) - $(10.5) million
Dragonfly Energy (Nasdaq: DFLI) is partnering with Highway Transport to integrate the Battle Born All-Electric APU into their fleet of over 500 trucks. This lithium-ion battery system provides auxiliary power for trucks, allowing operation of HVAC and electronics while the engine is off. The system is expected to reduce fuel costs and increase sustainability through emission reductions.
Highway Transport's commitment aligns with their Green Treads sustainability initiative. Initial trials have shown promising results, with the APU demonstrating the ability to power hotel loads for 12-16 hours, even in extreme heat. This partnership marks a significant step for Dragonfly Energy in penetrating the commercial trucking industry with lithium power solutions, potentially paving the way for wider adoption in the sector.
Dragonfly Energy (Nasdaq: DFLI) has entered into a $30 million licensing agreement with Stryten Energy for its Battle Born Batteries® brand. The deal grants Stryten exclusive rights to market and distribute Battle Born Batteries in new B2B markets, including military, automotive, marine, power sports, lawn and garden, and golf cart applications.
The agreement includes an initial $5 million licensing fee and potential mid-single digit royalty payments up to an additional $25 million. Dragonfly Energy will continue its operations in existing markets such as RV, off-grid properties, and stationary storage. The partnership aims to expand brand awareness and market reach while offering Stryten's customers reliable lithium-based power solutions.
Stryten Energy and Dragonfly Energy (Nasdaq: DFLI) have announced a strategic partnership worth potentially over $30 million. Stryten will gain exclusive rights to market and distribute Dragonfly's Battle Born Batteries brand of lithium-ion batteries globally in most B2B markets. The agreement also includes domestic contract manufacturing of Battle Born products for Stryten's sale.
This partnership aims to provide Stryten's customers with a complete lithium battery portfolio, meeting growing consumer demand across multiple industries, including marine, golf cart, and power sports applications. The collaboration will support a U.S.-based vertically integrated supply chain and an end-of-life battery collection and recycling program for consumer lithium batteries in the retail aftermarket.
Stryten plans to launch production in early 2025, initially supporting military and industrial customers. The company will utilize Advanced Manufacturing Production Credits to accelerate its investment in domestic lithium battery assembly production.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), a leading energy storage company and maker of Battle Born Batteries®, has announced its plans to release second quarter 2024 financial and operational results on August 14, 2024, after market close. The company will host a conference call and live webcast on the same day at 5:00 PM Eastern Time to discuss the results.
Investors and interested parties can access the webcast through a link provided or via the Events and Presentations page on Dragonfly Energy's investor relations website. For those preferring to join by phone, toll-free and international dial-in numbers are available. Participants are advised to log in or dial in at least 10 minutes before the event starts. An archive of the webcast and the earnings press release will be made available on the company's website shortly after the call.
Dragonfly Energy has announced a strategic partnership with Fraserway RV, Canada's largest coast-to-coast RV dealer. This collaboration will see Fraserway RV stock and install Dragonfly Energy's Battle Born Batteries, enhancing their customer offerings with sustainable and powerful energy solutions. With the Canadian RV market experiencing a significant growth, this partnership is well-timed to capitalize on the increased demand for outdoor recreation. Since 2014, camping households in Canada have increased by 68%, making it a lucrative market for Dragonfly Energy. The company aims to provide enhanced, eco-friendly customer experiences with this expansion.
United States Secretary of Commerce Gina Raimondo and Nevada Senator Jacky Rosen announced a $21 million federal investment in the Nevada Tech Hub at Dragonfly Energy's headquarters in Reno. The Tech Hub program aims to scale up the production of critical technologies, create jobs, and accelerate the growth of Nevada's lithium industry. Dragonfly Energy, a leader in energy storage and lithium-ion battery manufacturing, showcased its robust technology to the officials. This investment supports Dragonfly Energy's goal of vertical integration within Nevada, fostering infrastructure and workforce development initiatives.
Senator Rosen highlighted the importance of the lithium loop Tech Hub for advancing the U.S. energy goals and investing in STEM education and workforce training. Secretary Raimondo emphasized the investment as a strategic move to boost American manufacturing and technological innovation, enhancing U.S. economic competitiveness. Dragonfly Energy CEO, Dr. Denis Phares, reiterated the company's commitment to innovation and global competition.
Dragonfly Energy (Nasdaq: DFLI) collaborated with actor Jeremy Renner, The John Lennon Educational Tour Bus, and Big Brothers Big Sisters of Northern Nevada to produce an original song and music video, premiered at Artown in Reno, Nevada. Six youth aged 14-16 participated, supported by Dragonfly's nontoxic lithium Battle Born Batteries powering the bus toward sustainability. The initiative aligns with Dragonfly's community engagement and environmental goals, aiming to inspire young minds and foster creativity. The event highlighted the company's commitment to social responsibility while promoting their energy storage solutions.
Dragonfly Energy, a leader in energy storage and maker of Battle Born Batteries, has partnered with Refreshment Services Pepsi to integrate lithium-ion batteries into their fleet for liftgate operations.
This transition from lead-acid batteries to Dragonfly's lithium technology will offer significant cost savings, environmental benefits, reduced downtime, and a longer lifespan. The switch will also lead to fuel savings by allowing trucks to turn off their engines at every stop without compromising liftgate operation.
Dragonfly Energy's lithium batteries are expected to outperform lead-acid batteries by 54% in cycle life, reducing replacement frequency and costs. This partnership signifies Dragonfly's growth in the medium and heavy-duty trucking industry.
Implementation will begin in late July at Refreshment Services Pepsi’s Terre Haute, Indiana facility.
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