RENO, NEVADA. (November 11, 2022) – Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy”), headquartered in Reno and an industry leader in energy storage and producer of deep cycle lithium-ion storage batteries, is selected as Economic Development Authority of Western Nevada’s (“EDAWN”) recipient of the Manufacturing Excellence in the large company category at the 10th annual Existing Industry Awards.
The Existing Industry Awards recognize companies in western Nevada that provide employment to thousands of Nevadans and contribute significantly to the region’s economic vitality. EDAWN is a private/public partnership committed to adding quality jobs to the region by recruiting new companies, supporting the success of existing companies and assisting newly formed companies in their success while diversifying the economy and having a positive impact on the quality of life in the region.
“We are honored to be recognized by EDAWN for excellence in manufacturing,” Dr. Denis Phares, Dragonfly Energy CEO, said. “Our mission is not only to facilitate the widespread deployment of energy storage on and off the grid, but also to innovate our manufacturing processes to make it economically feasible to manufacture domestically, while still competing on the world stage. We will continue to bring more jobs to northern Nevada and do our part to onshore production, helping ensure that American technology and innovation grows the American economy.”
Dragonfly Energy has quickly become an industry leader in lithium-ion battery technology due to numerous patents and alignment with some of the industry’s leading consumer products, such as Keystone RV and others. In 2021, Dragonfly Energy significantly increased in size and manufacturing capacity, allowing for increased production and sales across all products. Just last month, Dragonfly Energy completed its business combination and commenced trading on the Nasdaq under the ticker “DFLI,” marking the beginning of the next phase of its growth and development here in Nevada. With a mission to make renewable energy affordable and accessible for all, Dragonfly Energy is also an industry leader in research and technology, continuing to shape the renewable energy landscape.
About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada, is a leading supplier of deep cycle lithium-ion batteries. Dragonfly’s research and development initiatives are revolutionizing the energy storage industry through innovative technologies and manufacturing processes. Today, Dragonfly’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 is also focused on delivering an energy storage solution to enable a more sustainable and reliable smart grid through the future deployment of the Company’s proprietary and patented solid-state cell technology. To learn more, visit www.dragonflyenergy.com/investors.
Forward-Looking Statements This 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 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. Factors that may impact such forward-looking statements include, but are not limited to: the Company’s ability to recognize the anticipated benefits of the of the Company’s recent business combination with Chardan NexTech Acquisition 2 Corp. and related transactions; the Company’s ability to successfully increase market penetration into target markets; the growth of the addressable markets that the Company intends to target; the Company’s ability to retain members of its senior management team and other key personnel; the Company’s ability to maintain relationships with key suppliers including suppliers in China; the Company’s ability to maintain relationships with key customers; the Company’s ability to access capital as and when needed under its $150 million ChEF Equity Facility; the Company’s ability to protect its patents and other intellectual property; the Company’s ability to successfully optimize solid state cells and to produce commercially viable solid state cells in a timely manner or at all, and to scale to mass production; the Company’s ability to achieve the anticipated benefits of its customer arrangements with THOR Industries and THOR Industries’ affiliated brands (including Keystone RV Company); the impact of the coronavirus disease pandemic, including any mutations or variants thereof and/or the Russian/Ukrainian conflict; the Company’s ability to generate revenue from future product sales and its ability to achieve and maintain profitability; and the Company’s ability to compete with other manufacturers in the industry and its ability to engage target customers and successfully convert these customers into meaningful orders in the future. These and other risks and uncertainties are described more fully in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Registration Statement on Form S-4 relating to the business combination declared effective by the U.S. Securities and Exchange Commission the (“SEC”) on September 16, 2022, in the Company’s Current Report on Form 8-K filed with the SEC on October 7, 2022, as amended by the Amendment No. 1 to the Current Report on Form 8-K/A filed with the SEC on October 12, 2022, and in the Company’s subsequent filings with the SEC.
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.
Sioban Hickie, ICR, Inc.
Ronele Dotson / Amy Demuth
RAD Strategies Inc. for Dragonfly Energy
[email protected] / 775-323-6333