Dragonfly Energy Granted New US Patent Making Way for Solid State Battery Production
December 21 2022 - 7:30AM
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, announced it
has been awarded patent number US11,491,508 by the United States
Patent and Trademark Office (USPTO). The patent is for “systems and
methods for dry powder coating layers of an electrochemical cell”
and is a major step forward in the Company’s mission to provide
affordable and effective energy storage solutions, including the
domestic manufacturing of all solid-state battery cells. This new
patent adds to the Company’s extensive portfolio focused on dry
powder coating of lithium ion battery electrodes.
The patented powder coating system is part of
the lithium battery manufacturing process, replacing methods which
require a significant amount of time and expensive heavy machinery
by forming a particle layer on a substrate through a dry powder
coating spray process. The process developed by Dragonfly Energy is
groundbreaking, and Dragonfly Energy believes that this process
will enable it to significantly reduce space and cost for lithium
ion battery manufacturing. More importantly, the process is
integral to scalable production of a non-flammable solution for
lithium ion battery applications.
Dragonfly Energy’s 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 battery chemistries. Dragonfly Energy
has validated its solid-state technology and is optimizing the
cells in preparation for production. The Company’s unique
solid-state technology is designed to be cost-effective and is
expected to allow for highly scalable manufacturing. Unlike many
battery manufacturers in the industry today who focus on developing
batteries for the EV market, Dragonfly Energy’s products uniquely
focus on deep cycle storage for grid, residential and industrial
applications.
“This patent is another significant achievement
for Dragonfly Energy,” Dr. Denis Phares, CEO of Dragonfly Energy,
said. “We have been developing dry powder coating processes for
lithium-ion battery production for over a decade, and this newly
patented process is a key piece of the foundation for manufacturing
our all solid-state batteries here in the U.S. Developing a
domestically produced battery is critical to the country’s grid
stability and our ultimate goal of revolutionizing grid
storage.”
To learn more about the process and development
of all solid-state batteries from 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 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 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 the Amendment No. 2 to the Current
Report on Form 8-K/A filed with the SEC on November 14, 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.
Investor Relations Sioban Hickie, ICR,
Inc.DragonflyIR@icrinc.com
Media RelationsAmy Demuth, Rad
Strategiesteam@radstrategiesinc.com
Source: Dragonfly Energy Holdings Corp.
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