Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy”
or the “Company”), an industry leader in energy storage and maker
of Battle Born Batteries®, is now a provider of lithium based
liftgate power solutions for Refreshment Services Pepsi, a
privately-held independent bottler and distributor for Pepsi-Cola®
products. With distribution centers across the U.S., Refreshment
Services Pepsi will begin integrating the Company's Battle Born
Batteries products into their fleet to power liftgate operations.
This shift to lithium-ion technology will offer Refreshment
Services Pepsi significant cost savings and environmental
advantages compared to lead-acid batteries traditionally used in
this application.
“Liftgates, though seemingly small, can greatly
impact our business in terms of cost, sustainability and
productivity,” said William Funk, delivery supervisor at
Refreshment Services Pepsi. “Lead acid batteries have always
presented challenges for us. Dragonfly Energy's lithium solution is
not only better for the environment but also helps reduce costs.
With fewer battery replacements and no more downtime, we can better
fulfill our mission of performing with purpose and exceeding our
customers' expectations.”
Additionally, by utilizing Dragonfly Energy’s
Battle Born Batteries®, Refreshment Services Pepsi expects to
achieve notable fuel savings due to the ability to turn off the
truck engine at every stop without compromising liftgate operation.
This eliminates the need to idle the engine to maintain battery
power for the liftgate, resulting in significant cost reductions
and environmental benefits.
Addressing several challenges associated with
lead-acid batteries, the lithium iron phosphate (a specific type of
lithium battery chemistry) based Battle Born Batteries® have shown
in testing to outperform lead acid batteries with more liftgate
cycles, a longer lifespan, and a lower overall cost due to a
decrease in replacement frequency and very few maintenance
requirements. According to a whitepaper study conducted by
Dragonfly Energy, Lithium batteries outperform lead acid batteries
by 54% in cycle life, requiring fewer replacements over time and
thereby decreasing costs in materials, labor, and vehicle
downtime.
Wade Seaburg, chief revenue officer for
Dragonfly Energy, says, “Partnering with Refreshment Services Pepsi
signifies another advancement for Dragonfly Energy as we further
our expansion within the medium and heavy-duty trucking industry.
Our Battle Born Batteries® products in liftgate applications offer
reliability, cost savings, and environmental benefits. As more
companies in the industry realize these advantages, Dragonfly
Energy is poised and ready to lead the way with the benefits of
lithium technology.”
Refreshment Services Pepsi will begin outfitting
trucks with Dragonfly Energy’s liftgate power system in late July
at the company’s Terre Haute, Indiana, facility.
For more information about Dragonfly Energy,
visit DragonflyEnergy.com. To learn more about Refreshment Services
Pepsi, visit RefreshmentServicesPepsi.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.
About Refreshment Services
PepsiRefreshment Services, Inc. is a privately held
independent bottler for Pepsi-Cola products. With seven
distribution centers across the central and southern parts of the
United States, Refreshment Services Inc. is the premier distributor
for Pepsi and other brands of beverages and snacks.
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 its partnership with Refreshment
Services Pepsi, 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 BaileyICR,
Inc.DragonflyIR@icrinc.com
Media RelationsAmy Demuth, RAD Strategies
Inc.dragonfly@radstrategiesinc.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2e23692f-2239-4dab-a54e-d22234770c2a
Source: Dragonfly Energy Holdings Corp.
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