Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy”
or the “Company”), maker of Battle Born Batteries™, now brings its
leading energy storage solutions to the heavy-duty trucking
industry with the introduction of the new Battle Born All-Electric
APU (auxiliary power unit). Dragonfly Energy's advanced lithium-ion
battery system provides ample wattage to run auxiliary power on
trucks, even when such trucks are not running. This transition to
lithium-based APU systems presents a significant opportunity for
the trucking industry to potentially save billions of dollars on
fuel costs and reduce harmful emissions during idle periods.
“As the trucking industry faces stricter
regulations, we believe an all-electric APU is a crucial first step
in reducing fuel consumption and emissions,” said Wade Seaburg,
Chief Revenue Officer of Dragonfly Energy. “We are entering this
growing market and have secured pilot programs with fleets
representing roughly 15 percent of the North American heavy-duty
trucking market. We believe this is a significant opportunity for
Dragonfly Energy to diversify and grow its revenue while providing
a compelling return on investment to fleet operators.”
Heavy-duty trucking is a large and growing
market, and Dragonfly Energy believes it is well-positioned to
capitalize on this growth. The Company is leveraging its
experience, having deployed hundreds of thousands of systems in
adjacent markets, to produce APU systems that are ideal for
heavy-duty trucks. The Battle Born All-Electric APU is a more
reliable, efficient, and environmentally friendly way to power the
hotel loads on sleeper trucks used in long haul trucking as
compared to traditional lead-acid batteries. Sleeper trucks are an
essential part of the trucking industry, and they play a vital role
in the transportation of goods across the country.
“Over the years, there have been many attempts
to eliminate unnecessary engine idling by harnessing electric APUs.
Recently, lithium-ion batteries are proving to dramatically improve
upon the mixed results generated by previous attempts,” said John
Larkin, transportation industry veteran and analyst. “The ability
to address these problems today, rather than waiting for BEVs
(“Battery Electric Vehicles”), can lead to immediate major
operational savings for fleet operators.”
Dragonfly Energy has pilot programs underway
with some of the industry’s top transportation companies, whose
combined fleets include over 65,000 total trucks. The expansion
into the heavy-duty trucking market represents a significant
opportunity for the Company to diversify and grow its business. The
new Battle Born All-Electric APU is expected to help fleets improve
their operating model by increasing uptime, driver retention, and
progress toward sustainability goals as well as help reduce
greenhouse gas emissions by improving fuel efficiency and reducing
idle time, a major source of emissions in the transportation
sector.
The Argonne National Laboratory estimates idling
trucks could consume up to one billion gallons of fuel annually,
costing upwards of $5 billion in fuel loss. In addition, Argonne
estimates that rest period idling results in the emission of
approximately 11 million tons of carbon dioxide, 55,000 tons of
nitrogen oxide and 400 tons of particulate matter each year. The
team at Dragonfly Energy designed the Battle Born All-Electric APU
specifically for the heavy-duty truck market to address these
energy and fuel consumption problems.
The Battle Born All-Electric APU allows truckers
to operate HVAC, appliances, and other electronics while the truck
is off, with zero harmful emissions and no loud engine idling. The
unit also recharges while the truck is being driven. With one-fifth
of the weight compared to traditional lead-acid batteries in the
same physical space, the Battle Born All-Electric APU provides
truckers with more capacity for their payload.
“We’ve seen positive feedback from our pilot
programs, with more programs expected to be initiated soon,” Steven
Carlson, Original Equipment Manufacturer Product Manager at
Dragonfly Energy, said. “Because this product provides a number of
benefits to not only the driver directly, but to the trucking
company as a whole, we believe this is a win-win.”
To learn more about Dragonfly Energy, visit
DragonflyEnergy.com.
About Dragonfly EnergyDragonfly
Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada,
is a leading supplier of deep cycle lithium-ion batteries.
Dragonfly Energy’s research and development initiatives are
revolutionizing the energy storage industry through innovative
technologies and manufacturing processes. Today, Dragonfly Energy’s
non-toxic deep cycle lithium-ion batteries are displacing lead-acid
batteries across a wide range of end-markets, including RVs, marine
vessels, off-grid installations, and other storage applications.
Dragonfly Energy is also focused on delivering an energy storage
solution to enable a more sustainable and reliable smart grid
through the future deployment of its proprietary and patented
solid-state cell technology. To learn more,
visit www.dragonflyenergy.com/investors.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking statements include all statements that
are not historical statements of fact and statements regarding the
Company’s intent, belief, or expectations, including, but not
limited to, statements regarding the Company’s products as related
to the trucking industry, the Company’s future results of
operations and financial position, planned products and services,
business strategy and plans, market size and growth opportunities,
competitive position and technological and market trends. Some of
these forward-looking statements can be identified by the use of
forward-looking words, including “may,” “should,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“plan,” “targets,” “projects,” “could,” “would,” “continue,”
“forecast” or the negatives of these terms or variations of them or
similar expressions.
These forward-looking statements are subject to
risks, uncertainties, and other factors (some of which are beyond
the Company’s control) which could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements. Such factors include those set forth in the sections
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in the Company’s Annual Report on Form
10-K for the year ended December 31, 2022 and in the Company’s
subsequent filings with the SEC available at www.sec.gov. If
any of these risks materialize or any of the Company’s assumptions
prove incorrect, actual results could differ materially from the
results implied by these forward-looking statements. There may be
additional risks that the Company presently does not know or that
it currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. All forward-looking statements contained in this press
release speak only as of the date they were made. Except to the
extent required by law, the Company undertakes no obligation to
update such statements to reflect events that occur or
circumstances that exist after the date on which they were
made.
Investor Relations Sioban Hickie, ICR,
Inc.DragonflyIR@icrinc.com
Media RelationsAmy Demuth, RAD Strategies
Inc.media@radstrategiesinc.com
Source: Dragonfly Energy Holdings Corp.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4eaf7193-6ad9-46ac-a9d5-e3ce6e359945
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