Dragonfly Energy Partners with Stevens Transport, Inc. to Transition Entire Fleet to Hybrid Battery Solutions
Dragonfly Energy (Nasdaq: DFLI) has secured a major purchase order from Stevens Transport for its Battle Born® All-Electric APUs. Stevens Transport, one of North America's largest temperature-controlled freight carriers, will transition its entire fleet of 2,500 trucks to Dragonfly's lithium power solutions. The implementation begins with 100 trucks in Q1 2025.
The partnership focuses on hybrid electrification, combining combustion engines with lithium iron phosphate batteries, rather than full fleet electrification. This approach aims to provide a cost-effective, sustainable solution while enhancing fleet performance and reducing operational costs. The initiative represents Stevens Transport's commitment to environmental sustainability and operational efficiency in the trucking industry.
Dragonfly Energy (Nasdaq: DFLI) ha ottenuto un importante ordine d'acquisto da Stevens Transport per i suoi APU completamente elettrici Battle Born®. Stevens Transport, uno dei maggiori trasportatori di merci a temperatura controllata in Nord America, convertirà l'intera flotta di 2.500 camion alle soluzioni di energia al litio di Dragonfly. L'implementazione inizierà con 100 camion nel primo trimestre del 2025.
La partnership si concentra sull'elettrificazione ibrida, combinando motori a combustione con batterie al litio ferro fosfato, anziché sull'elettrificazione totale della flotta. Questo approccio mira a fornire una soluzione sostenibile ed economica, migliorando le prestazioni della flotta e riducendo i costi operativi. L'iniziativa rappresenta l'impegno di Stevens Transport per la sostenibilità ambientale e l'efficienza operativa nel settore dei trasporti su strada.
Dragonfly Energy (Nasdaq: DFLI) ha asegurado un importante pedido de compra de Stevens Transport para sus APU 100% eléctricos Battle Born®. Stevens Transport, uno de los mayores transportistas de carga de temperatura controlada en América del Norte, convertirá toda su flota de 2,500 camiones a las soluciones de energía de litio de Dragonfly. La implementación comenzará con 100 camiones en el primer trimestre de 2025.
La asociación se centra en la electrificación híbrida, combinando motores de combustión con baterías de fosfato de hierro de litio, en lugar de la electrificación total de la flota. Este enfoque busca proporcionar una solución rentable y sostenible, mejorando el rendimiento de la flota y reduciendo los costos operativos. La iniciativa representa el compromiso de Stevens Transport con la sostenibilidad ambiental y la eficiencia operativa en la industria del transporte por carretera.
Dragonfly Energy (Nasdaq: DFLI)는 Stevens Transport로부터 Battle Born® 전기 APU에 대한 대규모 구매 주문을 확보했습니다. 북미 최대의 온도 조절 화물 운송업체 중 하나인 Stevens Transport는 2,500대의 트럭 전체를 Dragonfly의 리튬 전력 솔루션으로 전환할 예정입니다. 구현은 2025년 1분기에 100대의 트럭으로 시작됩니다.
파트너십은 전체 함대 전기화 대신 내연기관과 리튬 철 인산 배터리를 결합한 하이브리드 전기화에 중점을 두고 있습니다. 이러한 접근 방식은 비용 효율적이고 지속 가능한 솔루션을 제공하면서 함대 성능을 향상시키고 운영 비용을 줄이는 것을 목표로 합니다. 이 이니셔티브는 트럭 산업에서 Stevens Transport의 환경 지속 가능성 및 운영 효율성에 대한 약속을 나타냅니다.
Dragonfly Energy (Nasdaq: DFLI) a obtenu une commande importante de Stevens Transport pour ses APU entièrement électriques Battle Born®. Stevens Transport, l'un des plus grands transporteurs de fret à température contrôlée en Amérique du Nord, va convertir toute sa flotte de 2 500 camions aux solutions énergétiques au lithium de Dragonfly. La mise en œuvre commencera avec 100 camions au premier trimestre 2025.
Le partenariat se concentre sur l'électrification hybride, combinant moteurs à combustion et batteries au phosphate de fer lithium, plutôt que sur l'électrification complète de la flotte. Cette approche vise à fournir une solution économique et durable, tout en améliorant les performances de la flotte et en réduisant les coûts opérationnels. Cette initiative représente l'engagement de Stevens Transport en faveur de la durabilité environnementale et de l'efficacité opérationnelle dans l'industrie du transport routier.
Dragonfly Energy (Nasdaq: DFLI) hat einen großen Bestellauftrag von Stevens Transport für seine Battle Born® vollelektrischen APU gesichert. Stevens Transport, eines der größten temperaturkontrollierten Frachtunternehmen in Nordamerika, wird seine gesamte Flotte von 2.500 Lkw auf die Lithium-Energielösungen von Dragonfly umstellen. Die Implementierung beginnt im ersten Quartal 2025 mit 100 Lkw.
Die Partnerschaft konzentriert sich auf hybride Elektrifizierung, die Verbrennungsmotoren mit Lithiumeisenphosphat-Batterien kombiniert, anstatt die gesamte Flotte zu elektrifizieren. Dieser Ansatz zielt darauf ab, eine kostengünstige, nachhaltige Lösung zu bieten, die die Flottenleistung verbessert und die Betriebskosten senkt. Diese Initiative stellt das Engagement von Stevens Transport für Umweltverträglichkeit und betriebliche Effizienz in der Transportbranche dar.
- Secured large purchase order for Battle Born All-Electric APUs
- Contract covers transition of entire 2,500-truck fleet
- Initial implementation of 100 trucks in Q1 2025
- Partnership with major industry player validates technology
- Extended implementation timeline for full fleet transition
- Revenue impact and financial terms not disclosed
Insights
This transformative deal with Stevens Transport represents a significant milestone for Dragonfly Energy. The implementation of Battle Born All-Electric APUs across Stevens' entire fleet of 2,500 trucks starting Q1 2025 marks a substantial revenue opportunity and market validation. The initial order of 100 trucks provides immediate revenue visibility, while the full fleet commitment establishes a strong foundation for recurring business.
The hybrid electrification approach is particularly strategic in the current market environment. While full EV adoption faces infrastructure and cost barriers, hybrid solutions offer an achievable middle ground that delivers immediate benefits in fuel efficiency and emissions reduction. This positions Dragonfly Energy favorably in the commercial transportation sector's green transition.
For context, Stevens Transport is among the top 50 largest trucking companies in the US, making this partnership a powerful reference case that could accelerate adoption among other fleet operators. The deal could potentially unlock a broader market opportunity in the temperature-controlled freight segment, where efficient power management is crucial.
The Battle Born All-Electric APU system's selection by a major fleet operator validates Dragonfly's LiFePO4 battery technology in demanding commercial applications. The hybrid approach combining traditional combustion engines with advanced battery systems represents a pragmatic solution that addresses current market needs while building towards future electrification goals.
Key technical advantages include:
- LiFePO4 chemistry offering superior safety and longevity compared to traditional lead-acid batteries
- Integrated power management systems enabling efficient energy utilization
- Proven reliability in real-world testing conditions
RENO, Nev., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) ("Dragonfly Energy" or the "Company"), an industry leader in energy storage and battery technology, today announced that it has secured a large purchase order for delivery of the Company’s Battle Born® All-Electric APUs from Stevens Transport, Inc. (“Stevens Transport”), one of the largest temperature-controlled freight carriers in North America. This partnership represents the latest milestone in Stevens Transport’s ongoing mission to lead the trucking industry in adopting advanced, environmentally sustainable transportation solutions. As a family-owned and operated full truckload (FTL) carrier with operations across North America, Stevens Transport continues to demonstrate its commitment to state-of-the-art technology, efficiency, and sustainability.
After extensive testing and trials, Stevens Transport has committed to transitioning its entire fleet of 2,500 trucks to Dragonfly Energy’s lithium power solutions. Implementation will begin with equipping 100 trucks with the Battle Born All-Electric APUs in the first quarter of 2025, continuing through entire fleet completion. This commitment solidifies Dragonfly Energy as a key technology partner in the advancement of Stevens Transport’s fleet and furthering their commitment to reducing carbon emissions, enhancing fuel efficiency, and leading the logistics industry in practical, scalable green initiatives.
While many companies in the transportation industry remain focused on the full electrification of fleets, Stevens Transport and Dragonfly Energy are championing a more immediate and attainable approach: hybrid electrification. This strategy combines a combustion engine alongside lithium iron phosphate (LiFePO4) batteries, providing a cost-effective, sustainable solution that enhances fleet performance and decreases operational costs.
“Stevens Transport’s decision to partner with Dragonfly Energy underscores their recognition that hybrid electrification is the practical next step in fleet sustainability,” said Wade Seaburg, chief revenue officer for Dragonfly Energy. “Our All-Electric APU system is designed to deliver real-world benefits, combining reduced emissions with cost efficiencies and enhanced driver comfort. We’re proud to support Stevens Transport as they lead the charge toward a more sustainable future.”
By integrating Dragonfly Energy’s Battle Born All-Electric APU system into its operations, Stevens Transport is reaffirming its position as a forward-thinking leader in the logistics sector. As more companies recognize the benefits of hybridization, this partnership sets a compelling precedent for sustainable innovation in trucking.
“At Stevens Transport, we’re committed to integrating innovative, high-performance technologies into our operations,” said Clay Aaron, president of Stevens Transport. “Dragonfly Energy’s advanced battery solutions made them the clear choice for this partnership. The results from our testing and pilot phase exceeded our expectations in both performance and reliability. This initiative sets a new standard in not only enhancing our operational efficiency but in redefining the future of transportation.”
For more information about Dragonfly Energy and its innovative energy solutions, please visit DragonflyEnergy.com. For more information on Stevens Transport visit StevensTransport.com.
About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy's patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company's overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.
To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit www.investors.dragonflyenergy.com.
About Stevens Transport, Inc.
Stevens Transport, Inc. is a premier transportation and logistics company based in Dallas, Texas. With over 40 years of experience, the company has earned a reputation for delivering innovative, reliable, and personalized solutions to its clients in the transportation industry. Stevens Transport specializes in temperature-controlled commodities offering a comprehensive range of services that include truckload, intermodal, dedicated, 3PL, and logistics solutions. To learn more about Stevens Transport, visit www.stevenstransport.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company's intent, belief, or expectations, including, but not limited to, statements regarding Stevens Transport, Inc. the Company's future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "plan," "targets," "projects," "could," "would," "continue," "forecast" or the negatives of these terms or variations of them or similar expressions.
These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company's control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's subsequent filings with the SEC available at www.sec.gov. If any of these risks materialize or any of the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Relations
Caldwell Bailey, ICR, Inc.
DragonflyIR@icrinc.com
Media Relations
Amy Demuth, RAD Strategies Inc.
dragonfly@radstrategiesinc.com
Susan Fall, LaunchIT PR
susan@launchitpr.com
Source: Dragonfly Energy Holdings Corp.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e99cb0f7-b015-482d-9e15-6436b6e61a23
FAQ
How many trucks will Stevens Transport equip with DFLI's Battle Born All-Electric APUs?
What type of battery technology is DFLI using for Stevens Transport's fleet?
When will DFLI begin implementing the Stevens Transport fleet transition?
What is the significance of DFLI's hybrid electrification approach versus full electrification?
