Dragonfly Energy to be Granted U.S. Patent in Continued Momentum Toward Domestic Non-Flammable Lithium Battery Production
15 June 2023 - 9:30PM
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy”
or the “Company”), an industry leader in energy storage and
producer of deep cycle lithium-ion storage batteries, is to be
awarded a new US patent based on allowed US Patent Application No.
16/329/914 by the United States Patent and Trademark Office
(USPTO). The patent is for the “preparation and powder film
deposition of pre-coated powders” and specifically addresses the
feedstock material portion of the process in the production of
conventional Li-ion ion batteries and nonflammable solid-state
lithium batteries, paving the way for Dragonfly Energy to bring
nonflammable LiFePO4 storage batteries to market.
The Company believes this allowance represents
another important achievement and a major step forward in the
Company’s mission to produce nonflammable lithium batteries here in
the U.S. Solvent-free cell production is known to have a
significant cost advantage over traditional slurry coating, and the
Company has successfully applied the process to a variety of
different battery chemistries – including all-solid-state cells.
The Company intends to continue to innovate and work to bring the
safest and most cost-effective products to market to revolutionize
how we store energy on the grid.
Manufacturability at scale remains one of the
biggest challenges to the commercialization of solid-state
batteries. The Company’s new patent enables Dragonfly Energy to use
a powder-coating process that eliminates the need for large drying
rooms, replacing methods which require a significant amount of time
and expensive heavy machinery; making the process highly scalable
within a reduced footprint, and allowing for increased production
in a reduced time frame and at a lower cost.
Dragonfly Energy’s nonflammable all solid-state
batteries will contain a solid electrolyte rather than liquid,
making them lighter, smaller, non-flammable, and potentially
cheaper to manufacture than conventional batteries. Dragonfly
Energy has validated its cell manufacturing technology and is
optimizing its cell chemistry in preparation for commercialization,
recently cycling a prototype cells over 1,000 cycles.
About Dragonfly EnergyDragonfly
Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada,
is a leading supplier of deep cycle lithium-ion batteries.
Dragonfly Energy’s research and development initiatives are
revolutionizing the energy storage industry through innovative
technologies and manufacturing processes. Today, Dragonfly Energy’s
non-toxic deep cycle lithium-ion batteries are displacing lead-acid
batteries across a wide range of end-markets, including RVs, marine
vessels, off-grid installations, and other storage applications.
Dragonfly Energy is also focused on delivering an energy storage
solution to enable a more sustainable and reliable smart grid
through the future deployment of its proprietary and patented
solid-state cell technology. To learn more,
visit www.dragonflyenergy.com/investors.
Forward-Looking StatementsThis
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, 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, 2022 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 Sioban Hickie, ICR,
Inc.DragonflyIR@icrinc.com
Media RelationsAmy Demuth, RAD Strategies
Inc.team@radstrategiesinc.com
Source: Dragonfly Energy Holdings Corp.
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