Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) has announced a significant licensing agreement with Stryten Energy, a move that could exceed $30 million in licensing fees. This partnership allows Stryten Energy to utilize Dragonfly Energy's Battle Born Batteries® brand across a variety of lithium battery products, targeting sectors such as military, automotive, and marine applications. The collaboration is set to broaden the market reach of Battle Born Batteries, leveraging Stryten Energy's extensive manufacturing and distribution network.
The agreement between Dragonfly Energy and Stryten Energy is not just about distribution; it includes Dragonfly Energy manufacturing lithium battery models for Stryten and offering custom battery design services. This initiative aims to meet the increasing demand for durable and sustainable power sources in various industries. A notable aspect of this partnership is the emphasis on sustainability, with plans to integrate Stryten Energy's battery recycling infrastructure to establish a closed-loop system for Battle Born Batteries products.
This deal arrives as the demand for lithium batteries continues to rise across multiple sectors. Dragonfly Energy's innovative dry electrode battery manufacturing technology has been recognized for its cost competitiveness and environmental benefits, including the elimination of toxic solvents and reduced energy consumption. The partnership also supports the U.S. government's objectives for domestic battery production and energy independence, as highlighted by Stryten Energy's CEO, Mike Judd.
Beyond the Stryten Energy deal, Dragonfly Energy has been actively forming partnerships, such as providing power solutions to Refreshment Services Pepsi, showcasing its expanding role in the energy storage sector. With over 90 patents in battery technology, Dragonfly Energy is at the forefront of innovation, ready to meet the growing need for advanced energy storage solutions. The $30 million licensing agreement with Stryten Energy represents a pivotal moment for Dragonfly Energy, promising further growth in the lithium battery market and contributing to the global shift towards sustainable energy solutions.
