Worse, they don't have a consistent raw material flow to close the import gap. While not earning the deserved headlines and being shrugged off by politicians, the United States is far less energy-independent than one would expect. The best part about DFLI products and technology is that they are greatly needed. This represents a significant turning point for the company as it expands its business interests to include cell manufacturing, a mission having the potential to reduce energy costs and establish a closed-loop domestic supply chain.Ĭontributing to National Battery Independence That's only some of what contributes to near-term growth.Īnother value driver, its patented dry powder coating technology, is coming to fruition at scale. Appreciate what's been put into play, as DFLI noted constructing its pilot line and successful anode production as a crucial step in producing battery cells domestically from its manufacturing plant in Reno. DFLI noted that the pilot line is scheduled to begin producing cathode material during 3Q23, with full cells coming off the pilot line by the end of 2023. Revenues are expected to accrue near-term, which should be pleasing to investors. It can provide that output while requiring less than 150 square feet of physical space per electrode and consuming less than 6 kW of power. Dragonfly estimates this pilot line can produce up to 150 MWh of domestically manufactured LiFePO4 (lithium iron phosphate) battery cells per year when operating at 70 percent efficiency. Critical to those wanting accretive value, DFLI checked that box in the release, adding that through its patented battery production process, they have begun successfully dry depositing anode electrodes using its pilot line at a level sufficient to support large-scale production. Last Thursday, Dragonfly Energy announced completing its U.S. Other news contributes to the bullish move. (* share price of $2.28, Yahoo! Finance, 08:46 AM EST) Dominic Sinnott, Director of Government Affairs at Dragonfly Energy, will also participate as a member in the organization. Then, DFLI announced joining the Nevada Battery Coalition (NBC) as a founding member, being granted a seat on NBC’s board of directors, which will be occupied by Dragonfly Energy’s Chief Marketing Officer Tyler Bourns. News before the open yesterday sent shares higher by 7%. That's not unwarranted speculation: DFLI is better positioned today compared to when its stock traded over 6X higher at $16.31 over the past 52 weeks. While impressive, the trend line suggests that the surge could be the precursor to significantly higher prices. In response, its share price has increased by over 40% since the start of the month. Dragonfly Energy DFLI continues to score milestone achievements.
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