Welcome to our dedicated page for Dragonfly Energy Holdings news (Ticker: DFLI), a resource for investors and traders seeking the latest updates and insights on Dragonfly Energy Holdings stock.
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.
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.
Dragonfly Energy Holdings, a leader in energy storage, has expanded its Wakespeed product line with two new additions: the WS500 Pro Bluetooth Alternator Regulator and the WS48-12x Bi-Directional DC-DC Converter. The WS500 Pro enhances the existing WS500 by adding Bluetooth connectivity, allowing users to manage charging systems via a mobile app. The WS48-12x facilitates efficient power distribution between 12V and 48V systems, optimizing performance for mobile applications such as RVs and marine vessels.
The WS500 Pro will be available by late summer 2024, while the WS48-12x is already available for purchase. These innovations aim to meet the growing demand for higher battery capacity in confined spaces, promising faster charging, increased efficiency, and easy installation. Dragonfly Energy's new products will be showcased at the Overland Expo PNW 2024 in Redmond, OR from June 28-30.
Dragonfly Energy has partnered with Meyer Distributing to expand the distribution of its Battle Born Batteries® across North America. Meyer Distributing's extensive network of over 100 warehouses will help Dragonfly Energy reach new B2B customers in the RV and adjacent markets. This collaboration aims to provide RV and Overland enthusiasts with reliable and sustainable power solutions. Dragonfly Energy's products are known for their extended lifespan and safety, while Meyer Distributing is recognized for its exceptional service and high fill rates. This partnership is expected to enhance the RV and off-grid experience, contributing to a greener future.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), a leader in energy storage solutions, will participate in several significant conferences in June 2024. The events include Rho Motion Live in Paris, Benchmark Giga USA in Washington, D.C., and the ROTH London Conference. Key company representatives will present innovative advancements in battery manufacturing, focusing on their patented dry electrode technology and PFAS-free electrodes. The company will also discuss its latest expansion into heavy-duty trucking and oil and gas markets. These engagements aim to highlight recent research, cost assessments, and sustainability achievements.
Dragonfly Energy (Nasdaq: DFLI) reported its Q1 2024 financial results, revealing net sales of $12.5M, a decline from $18.8M in Q1 2023. Gross profit decreased to $3.1M from $4.7M, with a net loss of $10.4M compared to a net income of $4.8M last year. The decline is attributed to lower battery sales and reduced customer demand due to inflation and higher interest rates. Operating expenses were trimmed to $8.9M from $14.6M, driven by cost-cutting measures. Looking ahead, Dragonfly Energy expects Q2 net sales between $14M-$15M and a net loss between $8M-$10M. The company is expanding into the oil & gas sector and has introduced new products in the trucking industry.
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