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- Stryten Energy and Dragonfly Energy Announce $30M Strategic Partnership
Stryten Energy and Dragonfly Energy Announce $30M Strategic Partnership
Slice of Energy Team
August 05, 2024
Key Highlights:
Stryten Energy licenses Dragonfly Energy’s Battle Born Batteries brand of lithium-ion batteries.
$30 million agreement for exclusive global distribution and domestic manufacturing.
Enhances Stryten's lithium battery portfolio for multiple industries, including marine, golf cart, and power sports applications.
Source (Business Wire)
Notable Quotes:
"This partnership creates a path for Stryten to incorporate Dragonfly Energy’s future production of lithium battery cells in North America into batteries assembled in our facilities, a critical component to establishing a strong industrial base and achieving our country’s energy independence and sustainability goals.”
"The love and trust our customers have placed in our products has been humbling, and the potential to see our lithium batteries on shelves at major retailers, alongside other leading brands’ components, not only is a testament to their enduring quality but makes them more accessible to consumers nationwide.”
Our Take:
This strategic partnership between Stryten Energy and Dragonfly Energy represents a significant step forward in the U.S. energy storage market. By leveraging Dragonfly's established brand and Stryten's extensive distribution network, both companies stand to benefit immensely. The focus on domestic manufacturing and a circular economy for lithium batteries aligns perfectly with the increasing demand for sustainable and reliable energy solutions. This collaboration not only strengthens the U.S. battery supply chain but also positions both companies as key players in the pursuit of energy independence and sustainability goals.