EV Popularity Is On The Rise, But What About Specialty Vehicles? Dragonfly Energy (NASDAQ:DFLI) Is Electrifying RVs And More

RENO, NV / ACCESSWIRE / June 13, 2023 / As the clean energy sector expands and countries push for environmental regulations, batteries are becoming more and more crucial. Lithium-ion batteries are highly relevant for many modern electronic devices. They are both lightweight and have good rechargeability rates, making them the go-to battery for anything from vaping devices to cellphones, e-bikes, toothbrushes, solar backup storage, and more. However, the vast majority of the growing demand is coming from an expanded interest in electric vehicles (EVs) and energy storage systems.

The global battery market is projected to reach $423.9 billion by 2030 and is projected to grow more than fourfold between 2021 and 2030. While there is no shortage of companies researching and developing clean battery alternatives for the more popular automobile classes, there is less research and development for more specialty vehicles and appliances.

Dragonfly Energy Corp. (NASDAQ:DFLI) is working to fill that void. Dragonfly Energy is a leading manufacturer of deep-cycle lithium-ion batteries that are disrupting the energy storage industry. The company's innovative battery products are sold directly to consumers under the Battle Born Batteries brand and to original equipment manufacturers like Keystone RV and Airstream.

The company designs and assembles its batteries in the United States and is driving research and development initiatives for its non-toxic deep-cycle LiFePO4 batteries. Their batteries are replacing lead-acid batteries across a wide range of markets, including RVs, marine vessels, residential off-grid and backup storage, and industrial applications. Dragonfly Energy is also working on proprietary and patented non-flammable solid-state battery cell technology, which will enable a more sustainable and reliable smart grid.

Dragonfly Energy's Battle Born Batteries have become a game-changer and disrupter in the RV industry. These batteries provide significant weight savings, up to three times the power, and five times faster charging compared to traditional batteries. Additionally, they have a much longer lifespan, lasting over ten times longer than traditional batteries. The success in the RV world has led to the adoption of Battle Born Batteries in other industries like marine vessels and trucking. The battery's integration into popular brand offerings like Airstream, Tiffin, Leisure Travel Vans and Keystone RV is a testament to the scalability of the brand's lithium-ion batteries.

The company's innovation in bringing clean energy to the RV world is especially important due to the rise in popularity of the RV and off-the-grid lifestyle that began after the pandemic. In 2021, RV manufacturers shipped a record-breaking 600,240 RVs and although 2022 numbers were fewer than 2021, there were still more RVs shipped than in 2019 and 2020. The pandemic marked an increased consumer interest in RVs and a more mobile, minimalist lifestyle. The electrification of RVs in light of the rise in RV demand helps contribute to a cleaner environment, and Dragonfly's products like its residential off-grid and backup storage support offerings are supporting the growing popularity of off-the-grid lifestyles.

In the coming years, the clean energy sector is set to continue to grow, and companies like Dragonfly Energy could be essential to extending lithium-ion batteries in all sectors of the economy. With growing domestic demand driven by changing lifestyles as well as evolving regulations, it's also important for materials to be sourced and developed domestically, and Dragonfly intends to set up a fully vertically integrated lithium battery cycle from mining to production to recycling entirely in the U.S. The company's track record and dedication to R&D initiatives could position them to be a strong player in a growing field - supporting lifestyle choices and helping the environment.

Featured photo courtesy of Dragonfly Energy.

Contact:

Sioban Hickie, ICR, Inc.
DragonflyIR@icrinc.com

SOURCE: Dragonfly Energy