Curated News
By: NewsRamp Editorial Staff
August 01, 2024
Stryten Energy and Dragonfly Energy Holdings Corp. ink significant licensing agreement
TLDR
- Stryten Energy gains a significant advantage by expanding its lithium battery operations through a new licensing agreement with Dragonfly Energy, positioning itself as a leader in the industry.
- The partnership allows Stryten to offer customers more sustainable and longer-lasting power solutions by integrating Dragonfly Energy’s advanced technology into a lineup of lithium battery products across various industries.
- The collaboration focuses on sustainability, leveraging Stryten's existing battery recycling infrastructure to create a closed-loop system for Battle Born Batteries products, benefiting the planet and enhancing the overall value proposition for customers.
- Dragonfly Energy's patented dry electrode battery manufacturing technology is revolutionizing the industry, setting a new standard for environmentally friendly battery production and driving initiatives for a greener future.
Impact - Why it Matters
This news matters because it signifies a significant collaboration between two leading battery manufacturers, aiming to cater to the growing demand for long-lasting batteries in consumer markets while focusing on sustainability. The deal also highlights the push for domestic battery manufacturing and energy independence in the U.S., impacting the country's industrial base and sustainability goals.
Summary
Stryten Energy and Dragonfly Energy Holdings Corp. have inked a significant licensing agreement to use Dragonfly Energy’s Battle Born Batteries brand in a lineup of lithium battery products for various applications. The deal is potentially worth over $30 million in licensing fees alone and is expected to be the beginning of a broader partnership, with Dragonfly Energy providing custom battery design services tailored to the new market needs. The collaboration aims to create a one-stop shop for battery solutions, catering to the growing demand for long-lasting batteries in consumer markets. Additionally, the partnership focuses on sustainability, with Stryten leveraging its existing battery recycling infrastructure to create a closed-loop system for Battle Born Batteries products, ensuring proper disposal or recycling of returned products.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Stryten Energy and Dragonfly Energy Holdings Corp. ink significant licensing agreement
