EXCLUSIVE: Dragonfly Energy Completes US Lithium Battery Cell Pilot Line, Begins Manufacturing Anode

Aug 16, 2023

Dragonfly Energy Holdings Corp (NASDAQ: DFLI), a manufacturer of high-quality lithium-ion deep cycle batteries, announced the completion of its U.S. lithium battery cell pilot line.

Using its patented battery production process, DFLI has begun successfully dry depositing anode electrodes using its pilot line at a level sufficient to support large-scale production.

Dragonfly estimates this pilot line can produce up to 150 MWh of domestically manufactured LiFePO4 (lithium iron phosphate) battery cells per year when operating at 70 percent efficiency.

The new pilot line requires less than 150 square feet of physical space per electrode and consumes less than 6 kW of power.

The pilot line is expected to begin producing cathode material during 3Q23, with full cells coming off the pilot line by the end of 2023.

DFLI considers constructing its pilot line and successful anode production to be a crucial step in producing battery cells domestically from its manufacturing plant in Reno, Nevada.

“Announcing that our patented dry powder coating technology is coming to fruition at scale is not only incredibly exciting on a personal level but also represents a significant turning point for the Company as we expand into cell manufacturing. The implications are considerable in terms of advancing our mission of reducing the levelized cost of energy storage and establishing a closed loop domestic supply chain,” commented Dr. Denis Phares, Chief Executive Officer of Dragonfly Energy.

Price Action: DFLI shares are trading lower by 0.52% at $1.92 premarket on Wednesday.

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