Stryten Energy Signs Licensing Deal with Dragonfly Energy for Lithium Based Battle Born Batteries® Expansion

Stryten Energy LLC, a U.S. manufacturer specializing in advanced energy storage solutions, has announced a strategic collaboration with Dragonfly Energy Holdings Corp., a leader in green energy storage. This partnership involves licensing Dragonfly Energy’s Battle Born Batteries brand of lithium-ion batteries. Valued at potentially over $30 million, the agreement grants Stryten exclusive rights to market and distribute Battle Born Batteries globally across most B2B markets and includes provisions for domestic contract manufacturing of these products for Stryten Energy.

Mike Judd, CEO and President of Stryten Energy, stated, “Integrating Dragonfly Energy’s Battle Born Batteries into our transportation product lineup allows us to offer a renowned brand of high-quality lithium batteries to our customers. This partnership enables Stryten to provide a comprehensive lithium battery portfolio that addresses diverse industry needs. Dragonfly Energy’s commitment to American-made lithium batteries aligns with Stryten’s goal of offering a domestic supply chain and supporting a circular economy for lithium batteries.”

This partnership will offer Stryten's customers a comprehensive solution for all battery technologies, addressing the increasing demand for long-lasting batteries, especially in marine, golf cart, and power sports applications. Stryten will distribute both current Battle Born Batteries assembled at Dragonfly Energy’s Northern Nevada facility and collaborate on developing new battery models designed specifically for Stryten’s target markets.

Dr. Denis Phares, CEO of Dragonfly Energy, remarked, "We are thrilled to see the Battle Born Batteries brand expanding into new markets. The trust and loyalty our customers have shown our products have been incredibly rewarding. Seeing our lithium batteries alongside other top brands on store shelves not only highlights their lasting quality but also makes them more accessible to consumers nationwide. We are confident that Stryten's broad reach and shared dedication to innovation will make this partnership highly advantageous for both companies, driving significant growth."

The partnership establishes a robust U.S.-based supply chain with vertical integration, alongside a comprehensive end-of-life battery collection and recycling program for consumer lithium batteries in the retail aftermarket. Stryten will extend its lithium battery collection and recycling services to customers, leveraging its existing sustainable lead battery circular economy model. This initiative will ensure that consumer lithium batteries returned to retail locations are properly collected, either disposed of or recycled, thereby preventing them from ending up in landfills.

“Stryten Energy is investing in domestic lithium battery assembly to advance the production of next-generation lithium batteries for military, essential power, and industrial uses,” said Judd. “This partnership paves the way for integrating Dragonfly Energy’s future lithium battery cell production in North America with batteries assembled at our facilities. This is crucial for building a robust industrial base and achieving our nation's energy independence and sustainability objectives.”

Stryten will leverage the Advanced Manufacturing Production Credits under Section 45X of the Internal Revenue Code to fast-track its investment in domestic lithium battery assembly. The company aims to source all lithium cells domestically as the U.S. lithium battery supply chain and manufacturing capabilities develop. Production is set to begin in early 2025 and will initially cater to Stryten’s military and industrial clients.