Dragonfly Energy Expands Lithium Battery Market with Key Partnerships and Government Support

Saving the planet while saving companies’ money is the mantra for Dragonfly Energy (NASDAQ: DFLI). This was recently showcased as the company announced a series of wins leading up to the Fourth of July. Dragonfly is gaining recognition in the lithium battery market with its powerful Battle Born Batteries® and the development of a patented dry electrode cell manufacturing process.

One of the significant milestones for Dragonfly Energy is its new deal with Refreshment Services Pepsi, a privately held independent bottler and distributor for Pepsi-Cola® products. This partnership involves providing lithium-based liftgate power solutions, which are more cost-effective and environmentally friendly compared to traditional lead acid batteries.

Dragonfly Energy reports that its lithium-based Battle Born Batteries have demonstrated superior performance in tests, offering more liftgate cycles, a longer lifespan, and lower overall costs due to reduced replacement frequency and maintenance requirements. A whitepaper study by the company revealed that lithium batteries outperform lead acid batteries by 54% in cycle life, leading to fewer replacements and decreased costs in materials, labor, and vehicle downtime.

With Battle Born Batteries, Refreshment Services Pepsi anticipates significant fuel savings by being able to turn off truck engines at each stop without compromising liftgate operation. This eliminates the need to idle engines to maintain battery power, resulting in substantial cost reductions and environmental benefits.

“Liftgates, though seemingly small, can greatly impact our business in terms of cost, sustainability, and productivity,” said William Funk, delivery supervisor at Refreshment Services Pepsi. “Lead acid batteries have always presented challenges for us. Dragonfly Energy's lithium solution is not only better for the environment but also helps reduce costs.”

In addition to securing partnerships with major clients, Dragonfly Energy is also expanding its presence in local and federal government initiatives. The company aims for vertical integration by incorporating its battery technology into essential infrastructure and workforce development projects.

Recently, Dragonfly Energy hosted an event featuring U.S. Secretary of Commerce Gina Raimondo and Nevada Senator Jacky Rosen. During the event, Senator Rosen announced a $21 million investment in Nevada’s tech hub, part of a nationwide effort to scale the production of critical technologies, including lithium batteries. Dragonfly Energy was highlighted as a leader in Nevada’s expanding lithium industry, showcasing its advanced battery technology and manufacturing capabilities.

“This is a vote of confidence in Nevada,” Secretary Raimondo stated. “I spend all of my days thinking about how we can outcompete the world, how we can outcompete China, how America can lead in the world. And that’s what this is all about – investing in America, one community at a time, to create industries of the future.”

Nevada is becoming a pivotal player in the lithium sector, housing the only currently operating lithium mine in the United States and a robust pipeline of new projects nearing development. This includes Ioneer’s Rhyoite Ridge Project, for which Dragonfly Energy has secured an offtake agreement for critical lithium supply.

Beyond its business ventures, Dragonfly Energy is committed to community engagement. The company partnered with the John Lennon Educational Tour Bus, actor Jeremy Renner, and his non-profit Rennervation Foundation. Together, they facilitated a project where young people wrote, recorded, and premiered an original song and music video titled Imagine: A Musical Collaboration with Jeremy Renner. The video premiered at Artown, an annual 31-day celebration in Reno, Nevada, known as the largest arts and culture festival in the western United States.

Dragonfly Energy powered the John Lennon Educational Tour Bus with its nontoxic lithium Battle Born Batteries, enhancing the mobile recording studio's sustainability and cost-effectiveness. The company states that this transition to lithium power brought improved mobility and extended runtime, especially with the availability of solar power.

“There are a few projects that go beyond the business side of what we do, and this is definitely one,” said Tyler Bourns, chief marketing officer for Dragonfly Energy. “We see this as our gift to the community and an opportunity to celebrate and cheer for our youth while at the same time helping a worthwhile nonprofit move toward sustainability. We hope this project has an impact beyond those involved, and together, our community can continue to encourage young minds that they can do anything.”

Featured photo and other photos courtesy of Dragonfly Energy.

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