Stryten Energy Inks Licensing Agreement with Dragonfly Energy to Launch Its Battle Born Batteries® Brand of Lithium-Ion Batteries into New Consumer Retail Markets
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.
Stryten Energy e Dragonfly Energy (Nasdaq: DFLI) hanno annunciato una partnership strategica dal valore potenziale superiore a 30 milioni di dollari. Stryten otterrà diritti esclusivi per commercializzare e distribuire globalmente il marchio Battle Born Batteries di Dragonfly, dedicato a batterie agli ioni di litio, nella maggior parte dei mercati B2B. L'accordo include anche la produzione di prodotti Battle Born per la vendita di Stryten in ambito nazionale.
Questa partnership ha l'obiettivo di fornire ai clienti di Stryten un portafoglio completo di batterie al litio, rispondendo alla crescente domanda da parte di diversi settori, tra cui marino, carrelli da golf e applicazioni di sport motoristici. La collaborazione supporterà una catena di approvvigionamento integrata verticalmente negli Stati Uniti e un programma di raccolta e riciclo delle batterie a fine vita per batterie al litio destinate al mercato al dettaglio.
Stryten prevede di avviare la produzione all'inizio del 2025, inizialmente supportando clienti militari e industriali. L'azienda utilizzerà i Crediti di Produzione Avanzata per accelerare il suo investimento nella produzione di assemblaggio di batterie al litio domestiche.
Stryten Energy y Dragonfly Energy (Nasdaq: DFLI) han anunciado una asociación estratégica con un valor potencial de más de $30 millones. Stryten obtendrá derechos exclusivos para comercializar y distribuir globalmente la marca de baterías de iones de litio Battle Born Batteries de Dragonfly en la mayoría de los mercados B2B. El acuerdo también incluye la fabricación por contrato nacional de productos Battle Born para la venta de Stryten.
Esta asociación tiene como objetivo proporcionar a los clientes de Stryten un portafolio completo de baterías de litio, satisfaciendo la creciente demanda de varios sectores, incluidos los marinos, carritos de golf y aplicaciones de deportes motorizados. La colaboración apoyará una cadena de suministro integrada verticalmente basada en EE. UU. y un programa de recolección y reciclaje de baterías al final de su vida útil para baterías de litio de consumo en el mercado minorista.
Stryten planea iniciar la producción a principios de 2025, inicialmente apoyando a clientes militares e industriales. La compañía utilizará Créditos de Producción Avanzada para acelerar su inversión en la producción de ensamblaje de baterías de litio en el país.
Stryten Energy와 Dragonfly Energy (Nasdaq: DFLI)가 잠재적으로 3천만 달러 이상의 가치가 있는 전략적 파트너십을 발표했습니다. Stryten은 대부분의 B2B 시장에서 Dragonfly의 배틀본 배터리 브랜드 리튬 이온 배터리를 독점적으로 마케팅하고 배급할 수 있는 권리를 얻게 됩니다. 이 협약에는 Stryten의 판매를 위한 배틀본 제품의 국내 계약 제조 또한 포함됩니다.
이번 파트너십의 목적은 Stryten의 고객에게 다양한 산업에서 증가하는 소비자 수요를 충족시키기 위해 리튬 배터리의 완전한 포트폴리오를 제공하는 것입니다. 이 협력은 미국 기반의 수직적 통합 공급망을 지원하고 소매 후시장에서 소비자 리튬 배터리에 대한 폐기 및 재활용 프로그램을 운영할 것입니다.
Stryten은 2025년 초에 생산을 시작할 계획이며, 초기에는 군사 및 산업 고객을 지원할 것입니다. 이 회사는 국내 리튬 배터리 조립 생산에 대한 투자를 가속화하기 위해 고급 제조 생산 크레딧을 활용할 것입니다.
Stryten Energy et Dragonfly Energy (Nasdaq: DFLI) ont annoncé un partenariat stratégique d'une valeur potentielle de plus de 30 millions de dollars. Stryten obtiendra des droits exclusifs pour commercialiser et distribuer la marque de batteries lithium-ion Battle Born Batteries de Dragonfly au niveau mondial dans la plupart des marchés B2B. L'accord comprend également la fabrication de produits Battle Born pour la vente de Stryten sur le marché national.
Ce partenariat vise à fournir aux clients de Stryten un portefeuille complet de batteries lithium, répondant à la demande croissante des consommateurs dans divers secteurs, y compris le nautisme, les voiturettes de golf et les applications de sports motorisés. La collaboration soutiendra une chaîne d'approvisionnement intégrée verticalement basée aux États-Unis et un programme de collecte et de recyclage des batteries en fin de vie pour les batteries lithium de consommation sur le marché de détail.
Stryten prévoit de lancer la production début 2025, en soutenant initialement des clients militaires et industriels. L'entreprise utilisera des Crédits de Production Avancée pour accélérer son investissement dans la production locale d'assemblage de batteries lithium.
Stryten Energy und Dragonfly Energy (Nasdaq: DFLI) haben eine strategische Partnerschaft im Wert von potenziell über 30 Millionen Dollar angekündigt. Stryten erhält exklusive Rechte zur Vermarktung und zum Vertrieb der Lithium-Ionen-Batterien der Marke Battle Born Batteries von Dragonfly auf globaler Ebene in den meisten B2B-Märkten. Der Vertrag umfasst auch die nationale Auftragsfertigung von Battle Born-Produkten für den Verkauf von Stryten.
Diese Partnerschaft zielt darauf ab, Stryten-Kunden ein umfassendes Portfolio an Lithium-Batterien zu bieten, um der wachsenden Verbraucher-Nachfrage in verschiedenen Branchen, einschließlich Marine, Golf-Cart und Power-Sportanwendungen, gerecht zu werden. Die Zusammenarbeit wird eine in den USA ansässige vertikal integrierte Lieferkette sowie ein Programm zur Sammlung und zum Recycling von Altbatterien für Verbraucher-Lithium-Batterien im Einzelhandel unterstützen.
Stryten plant, die Produktion Anfang 2025 zu starten und zunächst militärische und industrielle Kunden zu unterstützen. Das Unternehmen wird Erweiterten Produktionsgutschriften nutzen, um seine Investitionen in die inländische Produktion von Lithium-Batterie-Assemblierung zu beschleunigen.
- Strategic partnership potentially worth over $30 million
- Exclusive licensing rights for Stryten to market and distribute Battle Born Batteries globally in most B2B markets
- Expansion of Stryten's product portfolio to include a well-known lithium battery brand
- Creation of a U.S.-based vertically integrated supply chain
- Establishment of an end-of-life battery collection and recycling program for consumer lithium batteries
- Utilization of Advanced Manufacturing Production Credits to accelerate investment in domestic production
- Production launch not scheduled until early 2025, potentially delaying revenue generation from this partnership
Insights
This licensing agreement between Stryten Energy and Dragonfly Energy marks a significant strategic move in the energy storage sector. With an estimated value of over
From an investor's perspective, this partnership could drive growth for both companies. Stryten gains access to a well-established brand in the lithium battery space, while Dragonfly Energy expands its reach through Stryten's distribution network. The potential for joint development of new battery models tailored to Stryten's target markets suggests opportunities for innovation and product differentiation.
The agreement's alignment with Section 45X tax credits for domestic production is another positive factor. These credits could significantly offset production costs, potentially improving profit margins. However, investors should note that production isn't slated to begin until early 2025, meaning the full financial impact won't be immediate.
While the deal appears promising, it's important to consider potential risks, such as execution challenges in integrating the new product line and meeting production targets. Overall, this partnership positions both companies to capitalize on the growing demand for lithium batteries in various industries, potentially driving long-term value for shareholders.
This licensing agreement represents a significant technological advancement in the energy storage sector. By incorporating Dragonfly Energy's Battle Born Batteries into its portfolio, Stryten Energy is positioning itself at the forefront of lithium-ion battery technology. These batteries are known for their longevity and performance, particularly in applications like marine, golf cart and power sports where multiple-season durability is crucial.
The partnership's focus on domestic production and a vertically integrated supply chain is particularly noteworthy. This approach could lead to better quality control, reduced supply chain risks and potentially faster innovation cycles. The planned domestic lithium cell production aligns with broader industry trends towards localizing critical technology manufacturing.
From a technological standpoint, the joint development of new battery models tailored to Stryten's target markets is exciting. This collaboration could lead to advancements in battery technology specifically optimized for military, automotive and other specialized applications. The potential integration of Dragonfly's future North American-produced lithium cells into Stryten's assembly process could further enhance product performance and reliability.
However, it's important to note that the lithium battery market is highly competitive and rapidly evolving. While this partnership strengthens Stryten's position, they will need to maintain a strong focus on R&D to stay competitive. The success of this venture will largely depend on their ability to innovate and efficiently scale up production to meet market demands.
This partnership between Stryten Energy and Dragonfly Energy marks a significant step towards sustainable energy storage solutions. The focus on creating a circular economy for lithium batteries is particularly commendable. By extending their existing lead battery recycling model to lithium batteries, Stryten is addressing a critical environmental concern in the energy storage industry.
The commitment to collect and recycle consumer lithium batteries from retail locations is a proactive approach to preventing these batteries from ending up in landfills. This is crucial, as improper disposal of lithium batteries can lead to environmental contamination and safety hazards. By establishing a formal recycling program, Stryten is not only mitigating these risks but also potentially recovering valuable materials, which aligns with principles of resource conservation and sustainability.
Moreover, the emphasis on domestic production and a U.S.-based vertically integrated supply chain could lead to reduced carbon emissions associated with transportation and logistics. This localization of production aligns with broader sustainability goals by potentially reducing the overall carbon footprint of battery manufacturing and distribution.
However, it's important to note that while lithium batteries are generally considered more environmentally friendly than lead-acid batteries in terms of energy density and lifespan, their production still has environmental impacts. The success of this initiative from a sustainability perspective will depend on the efficiency of the recycling processes developed and the overall life-cycle management of these batteries.
Overall, this partnership demonstrates a commitment to addressing the environmental challenges associated with energy storage technologies, which could position both companies favorably in an increasingly sustainability-conscious market.
Stryten Energy will have exclusive rights to market and distribute Battle Born Batteries for military, automotive, marine, power sports, lawn & garden and golf cart applications
From left to right: Mike Judd, Chief Executive Officer and President, and Petar Oklobdzija, Executive Vice President and Chief Financial Officer. (Photo: Business Wire)
“The addition of Dragonfly Energy’s Battle Born Batteries into our transportation product portfolio provides our customers access to a well-known brand of quality lithium batteries. With this partnership, Stryten now has a complete lithium battery portfolio to meet our customer needs across multiple industries,” said Mike Judd, CEO and President of Stryten Energy. “Dragonfly Energy’s mission to produce American-made lithium batteries complements Stryten’s vision to provide our customers access to a domestic supply chain and circular economy for lithium batteries.”
This partnership will provide Stryten’s customers with a one-stop shop for all battery technologies and answer the growing consumer demand for batteries that last multiple seasons, particularly in marine, golf cart and power sports applications. Stryten will distribute a mix of existing Battle Born Batteries assembled at Dragonfly Energy’s
"At Dragonfly Energy, we're incredibly proud to see the Battle Born Batteries brand take this leap forward into new end markets," said Dr. Denis Phares, Chief Executive Officer of Dragonfly Energy. "The love and trust our customers have placed in our products has been humbling, and the potential to see our lithium batteries on shelves at major retailers, alongside other leading brands’ components, not only is a testament to their enduring quality but makes them more accessible to consumers nationwide. We believe that Stryten's extensive reach and shared commitment to innovation will make this agreement the beginning of a truly mutually beneficial relationship, and we're confident it will unlock increased growth for both companies."
The partnership creates a strong footprint for a
“Stryten Energy is investing in domestic lithium battery assembly to support its next-generation lithium battery production for military, essential power and industrial applications,” added Judd. “This partnership creates a path for Stryten to incorporate Dragonfly Energy’s future production of lithium battery cells in
Stryten will utilize the Advanced Manufacturing Production Credits provided in Section 45X of the Internal Revenue Code to accelerate its investment in building its domestic lithium battery assembly production. Stryten plans to source 100 percent domestically made lithium cells as the
About Stryten Energy
Stryten Energy helps solve the world’s most pressing energy challenges with a broad range of energy storage solutions across the Essential Power, Motive Power, Transportation, Military and Government sectors. Headquartered in
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.dragonflyenergy.com/investors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240730401896/en/
Melissa Floyd
Vice President, Corporate Communications & Digital Marketing
678.599.9887
melissa.floyd@stryten.com
Source: Stryten Energy LLC
FAQ
What is the estimated value of the licensing agreement between Stryten Energy and Dragonfly Energy (DFLI)?
When will Stryten Energy begin production of Battle Born Batteries under this agreement?
What markets will Stryten Energy have exclusive rights to distribute Battle Born Batteries in?
How does this partnership support sustainability goals for Dragonfly Energy (DFLI) and Stryten Energy?
