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Dragonfly Energy Holdings Corp. reports developments in lithium battery technology, battery pack assembly, and integrated power systems under the Dragonfly Energy and Battle Born Batteries brands. News commonly covers financial results, OEM and direct-to-consumer sales channels, product launches, heavy-duty trucking power systems, RV and industrial applications, and expansion of the Battle Born energy-storage portfolio into solar products.
Company updates also address research and development for lithium cell manufacturing, its patented dry electrode manufacturing platform, solid-state battery materials, patent activity, technology funding, supply-chain and validation work, capital actions, cost-structure initiatives, and Nasdaq listing compliance matters.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) announces several executive promotions to enhance its leadership team, effective immediately. Ms. Nicole Harvey becomes Chief Legal Officer, overseeing corporate law and governance. Mr. Wade Seaburg is appointed Chief Revenue Officer, focusing on sales and business development, while Mr. Tyler Bourns is promoted to Chief Marketing Officer, bringing extensive media experience. The leadership changes come after Dragonfly's recent Nasdaq listing, following the departure of COO Sean Nichols to pursue other interests. These decisions are aimed at supporting the company's growth in energy storage solutions.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) announced its participation in the Nasdaq Opening Bell Ceremony on October 21, 2022, to celebrate its business combination closure and trading commencement on October 7, 2022. CEO Dr. Denis Phares expressed enthusiasm about going public and the company's commitment to providing lithium-ion batteries to replace lead-acid batteries across various markets. Dragonfly focuses on innovative energy storage solutions, including solid-state technology, targeting a more sustainable smart grid.
Dragonfly Energy Holdings Corp. has completed its merger with Chardan NexTech Acquisition 2 Corp, now trading under the ticker DFLI on Nasdaq. The transaction generated approximately $250 million in gross proceeds, including a $75 million loan and a $150 million equity facility. Dragonfly aims to enhance market penetration, primarily focusing on its All-Solid-State-Battery technology. The company reported revenues of $78 million in 2021 with a CAGR of 119% over three years and has achieved 17 consecutive profitable quarters.
Chardan NexTech Acquisition 2 Corp. (CNTQ) announced shareholder approval for its business combination with Dragonfly Energy Corp. during a special meeting held on October 6, 2022. Over 99.9% of votes supported the merger. CNTQ will submit the meeting results to the SEC via Form 8-K. Dragonfly Energy specializes in deep cycle lithium-ion batteries and aims to innovate energy storage solutions. This combination is expected to enhance Dragonfly's market position and technological advancements in sustainable energy solutions.
Dragonfly Energy Corp. expands its partnership with Keystone RV, ensuring all Keystone RV units shipped through 2022 will be equipped with Dragonfly's lithium-ion batteries. This announcement reinforces the existing agreement for Dragonfly batteries to be standard or optional equipment on Keystone RV travel trailers and fifth-wheels. Dragonfly’s batteries promise superior performance compared to traditional lead-acid options, boasting a 10x longer lifespan and faster charging. The strategic collaboration aims to enhance customer experience and leverages Dragonfly's innovative technology as part of Keystone's commitment to industry standards.