Skip to main content

Dragonfly Energy Holdings Corp.

HardwareReno, Nevada, USAFounded 2013· One of 1805 Hardware companies tracked by AMPulse

North American lithium battery technology company specializing in LiFePO4 battery packs, dry electrode cell manufacturing, and energy storage solutions

CEO / Founder
Dr. Denis Phares
Team Size
51-200
Stage
Public
Total Funding
Publicly Traded
Latest Round
IPO
Key Investors
THOR Industries; Energy Impact Partners; Chardan Capital Markets

Technology & Products

Key Products

Battle Born LiFePO4 battery packs (consumer brand); Private label battery manufacturing for OEMs; Wakespeed advanced alternator charging; Dragonfly Intelligence communication technology; Dry electrode battery cell manufacturing; All-Solid-State Battery (in development)

Technological Advantage

Patented dry powder electrode additive manufacturing process (US10547044B2); chemistry-agnostic platform supporting LiFePO4, NMC, LCO, Sodium-Ion, and Solid-State; vertically integrated from cell manufacturing to battery pack assembly to system integration

Differentiation

Value Proposition

Domestically designed and assembled LiFePO4 battery packs with a proprietary dry electrode manufacturing process that eliminates toxic solvents, reduces factory footprint by 22%, and lowers carbon footprint by 9%

How They Differentiate

Vertically integrated domestic manufacturing with proprietary dry electrode process (no toxic solvents, lower cost, chemistry-agnostic); strong OEM relationships with major RV manufacturers; public company with Nasdaq listing; Battle Born consumer brand recognition

Market & Competition

Target Customers

RV OEMs (Keystone, Airstream, Thor), heavy-duty trucking fleets, marine, off-grid residential, industrial solar, oil & gas, backup power, and military markets

Industry Verticals

Recreational Vehicle (RV); Heavy-Duty Trucking; Marine; Industrial Solar Integration; Oil & Gas; Off-Grid Residential Backup Power; Work Truck; Industrial Equipment

Competitors

RELiON Batteries; Dakota Lithium; Lithionics Battery

Growth & Milestones

Growth Metrics

400,000+ LiFePO4 battery packs sold; $225M+ in revenue since 2021; 179% average annual OEM growth since 2021; TTM revenue $58.6M (FY2025)

Major Milestones

2013: Founded by Denis Phares and Sean Nichols; 2014: First deep cycle LiFePO4 battery to market; 2018: 10,000th battery sold; 2021: Expansion into 100,000 sq. ft. facility; 2022: THOR Industries $15M strategic investment; 2022: Public listing on Nasdaq via SPAC merger with Chardan NexTech Acquisition 2 Corp (ticker DFLI); 2023: Awarded patent for dry electrode manufacturing process; 2024: $30M licensing deal with Stryten Energy for Battle Born brand; 2025: Expanded Airstream partnership; 2026: First Japanese patent allowance for solid-state battery technology

Notable Customers

Airstream (Thor Industries); Keystone RV (Thor Industries); Stevens Transport (heavy-duty trucking); multiple fleets representing ~15% of North American heavy-duty trucking market

https://www.dragonflyenergy.com

Recent coverage of Dragonfly Energy Holdings Corp.

Why this company matters

Dragonfly Energy occupies a distinct position in the North American lithium battery market as a vertically integrated manufacturer that designs, assembles, and now produces cells domestically. Its proprietary dry powder electrode process eliminates toxic solvents like NMP and PFAS, reduces factory footprint by 22%, and lowers carbon footprint by 9%. This chemistry-agnostic platform supports LiFePO4, NMC, LCO, sodium-ion, and solid-state chemistries, giving the company flexibility to pivot across end markets without retooling.

The company's core product line includes Battle Born LiFePO4 battery packs sold through a consumer brand, private label manufacturing for OEMs, and the Wakespeed advanced alternator charging system. Dragonfly Intelligence communication technology enables remote monitoring and battery management. The company is also developing an all-solid-state battery, with a Japanese patent allowance received in 2026. Patents cover dry powder electrode additive manufacturing and powder film deposition processes.

Dragonfly Energy targets recreational vehicle OEMs, heavy-duty trucking fleets, marine, off-grid residential, industrial solar, oil and gas, and military customers. Notable customers include Airstream and Keystone RV (both Thor Industries subsidiaries) and Stevens Transport. The company reports that its batteries are used by fleets representing roughly 15% of the North American heavy-duty trucking market. More than 400,000 LiFePO4 packs have been sold, with $225 million in cumulative revenue since 2021.

The company's strategic moat rests on its proprietary dry electrode manufacturing process, strong OEM relationships, and vertical integration from cell to pack to system. A $30 million licensing deal with Stryten Energy for the Battle Born brand and a $15 million strategic investment from Thor Industries reinforce its market position. However, Dragonfly Energy faces competition from established battery pack assemblers like RELiON, Dakota Lithium, and Lithionics Battery, and must demonstrate that its dry electrode process can scale cost-effectively against conventional wet-slurry manufacturing at higher volumes.