Dragonfly Energy Unveils Next-Generation of Power Charging Solutions Under the Company’s Wakespeed® Product Line

Wakespeed 500 Pro Bluetooth Alternator Regulator and 48V/12V Bi-Directional DC-DC Converter

Wakespeed 500 Pro Bluetooth Alternator Regulator and 48V/12V Bi-Directional DC-DC Converter Unlock Faster Charging Speeds and Increased Efficiency

RENO, NEVADA (June 20, 2024)– Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage, today announced the expansion of its Wakespeed® product line with two innovative additions: the Wakespeed 500 Pro Bluetooth Alternator Regulator (WS500 Pro) and the Wakespeed 48V/12V Bi-Directional DC-DC Converter (WS48-12x). These new products empower users to optimize their mobile power systems, unlocking faster charging speeds, increased efficiency, and seamless integration with numerous battery systems, including the Company’s Battle Born Batteries® brand of products.

The WS500 Pro builds upon the success of the popular WS500, introducing Bluetooth® connectivity for improved convenience. Paired with the Wakespeed mobile app, users can now wirelessly configure, update, and monitor their alternator charging directly from their smartphones. This newly integrated communication technology and intuitive app, available for both iPhone and Android, unlocks the potential for future features, ensuring the Wakespeed 500 Pro remains at the forefront of power management innovation.

The WS48-12x simplifies installation and streamlines power distribution within mobile applications utilizing both 12v and 48v DC systems. This truly bi-directional intelligent DC-DC Converter manages power between 12v and 48v, sending power from where it is available to where it is needed while respecting the needs and capabilities of both the 12v and 48v systems.  Whether using the existing chassis alternator to charge the 48v battery or supporting legacy 12v loads from the 48v battery, the WS48-12x offers a high level of efficiency. Designed to work exclusively in combination with the WS500 and WS500 Pro, with or without a high output 48v alternator, this powerful converter unlocks full charging potential while greatly simplifying system installation. By seamlessly converting power bidirectionally from 48 to 12 volts, this innovative device empower original equipment manufacturers (“OEMs”) and system integrators to manage energy sourced from alternators efficiently, ensuring optimal performance and reliability across diverse applications.

“The demand for larger and higher voltage battery banks in mobile applications continues to grow. However, physical space constraints often limit such expansion. We believe our new Wakespeed products address this challenge by enabling significantly faster alternator charging while maintaining safety and reliability, effectively extending the capabilities of existing battery systems,” said Wade Seaburg, chief revenue officer of Dragonfly Energy. “This represents a significant leap forward in mobile power management, with the potential to transform how we design and build energy systems for these applications.”

The Wakespeed product line caters to the growing demand for increased power capacity in mobile applications, particularly within the van-life, recreational vehicle (RV) and marine industries. These innovative solutions integrate seamlessly with Dragonfly Energy’s industry-leading Battle Born Batteries®, while maintaining compatibility with an additional wide range of thoroughly bench-tested, lead-acid and lithium batteries. Wakespeed products are a trusted choice across various industries, with a strong presence in marine, overland, and commercial applications, particularly for OEMs, further solidifying Dragonfly Energy’s commitment to diverse power management solutions.

“The evolution of these products simplifies systems significantly as we see an increase in mixed 12v and 48v deployments,” Al Thomason, senior application engineer at Dragonfly Energy and one of the founders of Wakespeed, said. “We believe Wakespeed’s proven track record for quality and innovation continues with these new products, which offer a way to include the benefits of 48v designs in a simple and easy-to-install architecture.”

The WS500 Pro will be available soon, with shipments expected to begin in late summer 2024. The WS48-12x is currently available for purchase and shipping. Customers can get a first look at these new products installed inside Boho Camper Vans’ Show Vehicle (See Video) at the Battle Born Batteries® booth (#A91) during Overland Expo PNW 2024, June 28-30th in Redmond, OR.

For more information about Dragonfly Energy, visit DragonflyEnergy.com. To learn more about the Company’s Wakespeed brand of products, visit Wakespeed.com.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

To learn more about Dragonfly Energy and its commitment to clean energy advancements, 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. 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, 2023, 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

Caldwell Bailey

ICR, Inc.

[email protected]

Media Relations

Amy Demuth

RAD Strategies Inc.

[email protected]

Source: Dragonfly Energy Holdings Corp.

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