Dragonfly Energy secures a significant order from Stevens Transport to convert its fleet to hybrid electrification solutions.
Quiver AI Summary
Dragonfly Energy Holdings Corp. announced a significant purchase order for its Battle Born All-Electric APUs from Stevens Transport, a major temperature-controlled freight carrier. This partnership supports Stevens Transport's initiative to enhance sustainability in the trucking industry by transitioning its fleet of 2,500 trucks to hybrid electrification using Dragonfly Energy's lithium power solutions. The initial implementation will involve equipping 100 trucks in the first quarter of 2025. This collaboration highlights a commitment to reducing carbon emissions and improving operational efficiency through advanced technology. Both companies aim to set a standard for sustainable practices in the logistics sector, with Stevens Transport's leadership acknowledging the effectiveness of Dragonfly Energy's solutions during testing and pilot phases.
Potential Positives
- Dragonfly Energy secured a significant purchase order from Stevens Transport, signaling strong demand for its Battle Born All-Electric APUs in the commercial trucking sector.
- The partnership with Stevens Transport emphasizes Dragonfly Energy's role as a key technology provider in advancing hybrid electrification solutions, enhancing the company's market position in the energy storage industry.
- This initiative represents a commitment by Stevens Transport to transition its entire fleet of 2,500 trucks to Dragonfly Energy's lithium power solutions, indicating long-term potential for growth and revenue for the company.
- The integration of Dragonfly Energy's technology is expected to improve fuel efficiency and reduce carbon emissions, aligning with industry trends towards sustainability and enhancing the company's brand reputation as a leader in clean energy solutions.
Potential Negatives
- The mention of risks and uncertainties related to forward-looking statements may raise concerns among investors about the company's future performance and financial stability.
- The emphasis on hybrid electrification may suggest that the company is not fully aligned with the push for complete electrification in the industry, potentially limiting future market relevance.
- The large purchase order may create pressure on the company to meet expectations in performance and reliability, as mentioned in the press release, and failure to do so could adversely affect its reputation.
FAQ
What is the latest announcement from Dragonfly Energy?
Dragonfly Energy announced a large purchase order for its Battle Born All-Electric APUs from Stevens Transport.
How many trucks will Stevens Transport convert?
Stevens Transport will transition its fleet of 2,500 trucks to Dragonfly Energy's lithium power solutions.
What is the implementation timeline for the APUs?
The implementation will begin in Q1 2025, starting with 100 trucks and continuing through the entire fleet.
What benefits do the Battle Born APUs provide?
The APUs enhance fuel efficiency, reduce emissions, and improve driver comfort in transportation operations.
What is the hybrid electrification approach?
Hybrid electrification combines combustion engines with lithium iron phosphate batteries for a sustainable and cost-effective solution.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
RENO, Nev., Dec. 19, 2024 (GLOBE NEWSWIRE) --
Dragonfly Energy Holdings Corp
.
(Nasdaq: DFLI) ("Dragonfly Energy" or the "Company"), an industry leader in energy storage and battery technology, today announced that it has secured a large purchase order for delivery of the Company's Battle Born
All-Electric APUs from Stevens Transport, Inc. ("Stevens Transport"), one of the largest temperature-controlled freight carriers in North America. This partnership represents the latest milestone in Stevens Transport's ongoing mission to lead the trucking industry in adopting advanced, environmentally sustainable transportation solutions. As a family-owned and operated full truckload (FTL) carrier with operations across North America, Stevens Transport continues to demonstrate its commitment to state-of-the-art technology, efficiency, and sustainability.
After extensive testing and trials, Stevens Transport has committed to transitioning its entire fleet of 2,500 trucks to Dragonfly Energy's lithium power solutions. Implementation will begin with equipping 100 trucks with the Battle Born All-Electric APUs in the first quarter of 2025, continuing through entire fleet completion. This commitment solidifies Dragonfly Energy as a key technology partner in the advancement of Stevens Transport's fleet and furthering their commitment to reducing carbon emissions, enhancing fuel efficiency, and leading the logistics industry in practical, scalable green initiatives.
While many companies in the transportation industry remain focused on the full electrification of fleets, Stevens Transport and Dragonfly Energy are championing a more immediate and attainable approach: hybrid electrification. This strategy combines a combustion engine alongside lithium iron phosphate (LiFePO4) batteries, providing a cost-effective, sustainable solution that enhances fleet performance and decreases operational costs.
"Stevens Transport's decision to partner with Dragonfly Energy underscores their recognition that hybrid electrification is the practical next step in fleet sustainability," said Wade Seaburg, chief revenue officer for Dragonfly Energy. "Our All-Electric APU system is designed to deliver real-world benefits, combining reduced emissions with cost efficiencies and enhanced driver comfort. We're proud to support Stevens Transport as they lead the charge toward a more sustainable future."
By integrating Dragonfly Energy's Battle Born All-Electric APU system into its operations, Stevens Transport is reaffirming its position as a forward-thinking leader in the logistics sector. As more companies recognize the benefits of hybridization, this partnership sets a compelling precedent for sustainable innovation in trucking.
"At Stevens Transport, we're committed to integrating innovative, high-performance technologies into our operations," said Clay Aaron, president of Stevens Transport. "Dragonfly Energy's advanced battery solutions made them the clear choice for this partnership. The results from our testing and pilot phase exceeded our expectations in both performance and reliability. This initiative sets a new standard in not only enhancing our operational efficiency but in redefining the future of transportation."
For more information about Dragonfly Energy and its innovative energy solutions, please visit
DragonflyEnergy.com
. For more information on Stevens Transport visit
StevensTransport.com
.
About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries
brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy's patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company's overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.
To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit
.
About Stevens Transport, Inc.
Stevens Transport, Inc. is a premier transportation and logistics company based in Dallas, Texas. With over 40 years of experience, the company has earned a reputation for delivering innovative, reliable, and personalized solutions to its clients in the transportation industry. Stevens Transport specializes in temperature-controlled commodities offering a comprehensive range of services that include truckload, intermodal, dedicated, 3PL, and logistics solutions. To learn more about Stevens Transport, visit .
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company's intent, belief, or expectations, including, but not limited to, statements regarding Stevens Transport, Inc. the Company's future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "plan," "targets," "projects," "could," "would," "continue," "forecast" or the negatives of these terms or variations of them or similar expressions.
These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company's control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's subsequent filings with the SEC available at
www.sec.gov
. If any of these risks materialize or any of the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Relations
Caldwell Bailey, ICR, Inc.
DragonflyIR@icrinc.com
Media Relations
Amy Demuth, RAD Strategies Inc.
dragonfly@radstrategiesinc.com
Susan Fall, LaunchIT PR
susan@launchitpr.com
Source: Dragonfly Energy Holdings Corp.
A photo accompanying this announcement is available at
