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Dragonfly Energy: Develops, manufactures deep-cycle lithium-ion batteries for energy storage; serves consumers, OEMs in RV, marine, off-grid.
Based in Reno, Nevada, Dragonfly Energy develops and manufactures advanced deep-cycle lithium-ion batteries designed for mobile, off-grid recreation, and emerging stationary energy storage applications. The company distributes its energy storage systems directly to retail consumers under the Battle Born Batteries brand and supplies original equipment manufacturers across the recreational vehicle and marine sectors. Dragonfly Energy provides its lithium-ion technology to prominent corporate customers such as Keystone RV and has pursued public market entry through a special purpose acquisition company merger with Chardan NexTech. The organization has conducted over 10 years of dedicated research and development focused on proprietary battery manufacturing processes. This ongoing research aims to advance clean energy commercialization and domestic production capabilities within the broader energy transition landscape. Dragonfly Energy was founded in 2012 by Dr. Denis Phares and Sean Nichols.
Dragonfly Energy has raised $25.0M across 1 funding round.
Dragonfly Energy has raised $25.0M in total across 1 funding round.
Dragonfly Energy has raised $25.0M in total across 1 funding round.
Dragonfly Energy's investors include Alter Domus.
Dragonfly Energy is a Reno, Nevada-based technology company specializing in lithium-ion battery manufacturing, particularly deep-cycle LiFePO4 batteries and innovative energy storage systems for RVs, marine vessels, off-grid residences, industrial operations, and emerging applications like electric vehicles.[1][5][6] It serves OEMs, businesses, and residential users by solving key challenges in energy storage, such as replacing toxic lead-acid batteries with safer, more efficient, sustainable alternatives that enable energy independence and reduce downtime.[1][6] The company has demonstrated strong growth momentum, including going public on Nasdaq (DFLI) via a SPAC merger in 2022, expanding to a 100,000 sq. ft. facility, securing OEM customers, and winning the 2025 Battery Technology Company of the Year award from CleanTech Breakthrough for its patented dry electrode process and Dragonfly IntelLigence® technology.[2][3][5][6]
Founded in 2012 in Reno, Nevada—amid the region's lithium-rich ecosystem—Dragonfly Energy began as a pioneer in deep-cycle LiFePO4 batteries, bringing the first such product to market and rapidly scaling sales to hit the 10,000th unit by 2018.[1][5] Key early milestones included securing its first OEM customer in 2018, launching the Gamechanger 3.0 battery, and expanding facilities, all while investing over 10 years in R&D for advanced manufacturing.[1][5] The company went public in 2022 through a business combination with Chardan NexTech Acquisition 2 Corp., listing on Nasdaq as DFLI to fund commercialization of proprietary technologies like all-solid-state batteries.[6] Leadership, including CEO Dr. Denis Phares, has driven this evolution from battery packs to full cell manufacturing and system integration.[8]
Dragonfly Energy rides the surge in renewable energy storage and electrification trends, capitalizing on U.S. pushes for domestic battery supply chains amid lithium abundance in Nevada's "Lithium Loop."[1][5] Its dry electrode tech addresses market forces like supply chain vulnerabilities, environmental regulations on PFAS/solvents, and demand for grid-stabilizing, decentralized storage to make renewables competitive with fossils.[2][6] By enabling efficient off-grid power, EV integration, and circular recycling, it influences the ecosystem through job creation in Nevada, OEM partnerships, and tech like AI-optimized cells that extend battery life and reduce reliance on imports.[1][4] The timing aligns with post-2022 IRA incentives and 2025 award recognition, positioning it as a key player in sustainable energy independence.[2][3]
Dragonfly Energy is poised to scale its dry electrode factories and deploy all-solid-state batteries, targeting broader EV, consumer electronics, and grid applications with proceeds from its public listing.[2][6] Trends like AI-enhanced batteries, recycling mandates, and decentralized renewables will accelerate its growth, potentially evolving its influence from RV/marine niche to a broader U.S. manufacturing leader.[1][4] As domestic production benchmarks rise, expect deeper OEM integrations and ecosystem impact, reinforcing its role in a cleaner energy future—much like its origins replacing lead-acid batteries transformed mobile power.
Dragonfly Energy has raised $25.0M across 1 funding round. Most recently, it raised $25.0M Series B in October 2025.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 20, 2025 | $25.0M Series B | Alter Domus |