A local lithium-ion battery manufacturing company says its products are about to be distributed across the world after it signed a $30 million deal late last night.
Dragonfly Energy in Reno has entered a licensing agreement with North American battery manufacturer Stryten. Stryten will sell ‘Battle Born Batteries’ to retailers working in military, automotive, marine, power sports, lawn and garden and golf cart applications.
“(Stryten is) interested in getting into lithium batteries … They actually identified Battle Born Batteries as the most reputable brand on the market and came to us,” said Dragonfly Energy CEO Denis Phares.
Phares says he plans to use the additional revenue from the deal to invest more in research and development.
“When we are able to develop the infrastructure here to actually make our own cells using Nevada resources, I mean, we’re selling globally, we’re putting Nevada on the map,” Phares said.
Other industry leaders agree.
“In our estimation, this is us building on – or our members like Dragonfly – building on the foundation that we have here in the state of Nevada and really propelling the state into the national conversation,” said Caleb Cage, executive director of the Nevada Battery Coalition.
He added that Nevada is the only state that has all seven stages of the lithium supply chain represented – from mining to manufacturing and recycling lithium-ion batteries.
“Dragonfly and others are showing how important we are to the nation,” Cage said.
