Dragonfly Energy Secures Additional Nevada Tech Hub Funding

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Dragonfly Energy Holdings Corp., an industry leader in energy storage and maker of Battle Born Batteries®, announced it has been selected for a second consecutive round of funding through the Nevada Tech Hub. The $527,000 award will support continued investment in the Company’s battery research, development, and advanced manufacturing capabilities.

The funding will support a two-part initiative focused on expanding Dragonfly Energy’s in-house cell prototyping and testing capabilities. The project includes the acquisition of specialized equipment to produce cylindrical lithium battery cell prototypes, along with advanced validation systems to evaluate performance, qualify new materials and suppliers, and support next-generation product development.

“This second Nevada Tech Hub award reflects the progress we’ve made and the continued confidence in our approach to battery innovation,” said Dr. Denis Phares, Chief Executive Officer of Dragonfly Energy. “This investment strengthens our ability to design, build, and validate battery cells in-house, accelerating development cycles and enabling us to more rapidly translate innovation into real-world performance. This non-dilutive funding continues to be highly beneficial to our long-term growth strategy.”

The initiative builds on Dragonfly Energy’s previously awarded Nevada Tech Hub project, which focused on enhancing production operations, quality monitoring systems, and workforce development. With expanded prototyping and testing infrastructure, the Company is further integrating its battery pack expertise with cell development, creating a more efficient feedback loop between lab research, manufacturing, and field performance. This level of vertical integration, particularly the combination of deployed field data, pack design, and in-house cell prototyping, is rare outside of large-scale manufacturers in Asia.

Dragonfly Energy’s approach is differentiated by its ability to leverage data from batteries deployed across demanding applications such as RV, trucking, and industrial systems to inform cell design and performance optimization. This data-driven development process supports the advancement of the Company’s patented dry electrode battery manufacturing platform, a more efficient and scalable alternative to conventional methods.

The project is expected to run from Q2 2026 through Q2 2027 and will be supported by additional internal investment of approximately $432,000 to fund labor, engineering, and program execution.

The initiative also contributes to Nevada’s growing battery innovation ecosystem, supporting collaboration across industry, supply chain partners, and academic institutions.