Dragonfly Energy Achieves Key Milestone with Successful Cathode Electrode Dry Deposition at Scale for American Lithium Batteries
05 Octubre 2023 - 6:30AM
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy”
or the “Company”), maker of Battle Born BatteriesTM and an industry
leader in energy storage, today announced the successful deposition
of cathode electrodes, and double-sided dry deposition of both
anode and cathode electrodes, both at scale, using the Company’s
patented dry electrode battery manufacturing process. Achievement
of this key technological milestone puts Dragonfly Energy on track
for the production of its American-made lithium cells by the end of
2023.
“With the successful scaled-up deposition of
cathode electrodes, we can now say that Dragonfly Energy has passed
the last anticipated major technological hurdle as we work towards
lithium battery cell production right here in Nevada,” Dr. Denis
Phares, chief executive officer of Dragonfly Energy, said.
“Graphite anodes and LiFePO4 cathodes have fundamentally different
physical and mechanical properties, so we’re proud to say this is a
significant achievement for our whole team and an incredibly
exciting time for the industry as a whole. I believe it validates
the strength of our chemistry agnostic manufacturing process as
economically deployable and scalable.”
Dragonfly Energy's dry deposition technology
eliminates the use of toxic solvents which are used in traditional
cell manufacturing. In addition, the Company’s manufacturing
process enables a significantly reduced footprint, occupying less
than 150 square feet per electrode. As a result, Dragonfly Energy’s
patented approach is expected to not only enhance environmental
sustainability but also drive cost efficiency.
Dragonfly Energy’s dry electrode manufacturing
process is also applicable for use in the co-deposition of
electrodes and solid electrolytes. This is expected to be a pivotal
factor in the development of the Company’s non-flammable storage
cells. The successful development of this technology is anticipated
to contribute significantly to the distributed grid storage model
of the future.
Dragonfly Energy is continuing to make progress
on its mission to produce fully American-made lithium batteries and
eliminate reliance on overseas manufacturers. With demand for
lithium batteries expected to grow more than five-fold by the end
of this decade, and the U.S. expected to only capture 30 percent of
the value of cell production1, Dragonfly Energy believes it is
poised to perform a leading role in American-made lithium cells and
bolster the government’s efforts to ensuring energy
independence.
Dragonfly Energy also expects to announce new
Battle Born BatteriesTM products that incorporate these new cells
beginning in 2024.
To learn more about Dragonfly Energy, visit
DragonflyEnergy.com.
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, statements regarding the Company’s manufacturing
processes, 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.media@radstrategiesinc.com
Source: Dragonfly Energy Holdings Corp.
________________________________1 Source: Reuters:
https://www.reuters.com/markets/commodities/global-demand-lithium-batteries-leap-five-fold-by-2030-li-bridge-2023-02-15/#:~:text=Demand%20for%20lithium%20batteries%20in,for%20supply%2C%20the%20report%20added
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