Dragonfly Energy is a privately held renewable energy semiconductor manufacturing company. The company was founded in 2013 by Sean and Denis. The company has its headquarters located in Reno, Nevada, USA, and is said to house around 50-200 employees.
While fossil fuels were the primary source of energy in the past, renewable sources are the preferred sources owing to their qualities like being less polluting and readily available. While the generation of new energy is possible, Dragonfly Energy helps facilitate the storage of this clean energy.
The company focuses on developing technology that facilitates the storage of energy at the most minimal cost possible and also makes sure that the developed technology is accessible to almost everyone.
The company works on the notion that energy storage means which are accessible and effective are the renewable energy landscape of the future.
Dragonfly Energy – The Beginning
Sean and Denis are the founders of Dragonfly Energy, which operates from Reno, Nevada. Both of them met each other at the University of Nevada in Reno, while they were attending grad school. Even though they both had quite a grasp in the area of energy storage, the knowledge shared by them was distinct.
Combining both their expertise, Sean and Denis were destined to find an innovative and effective replacement for the traditional lead-acid batteries.
With proper research and studies, they came to the realization that focusing their projects on lithium-ion batteries was destined to grant them the result that they were looking for. The decision to focus on lithium-ion batteries finally gave them the needed result and they made their first battery.
As their experiments and research gave them a successful result, Sean and Denis officially opened Dragonfly Energy on March 6, 2014.
Winning the Donald W. Reynolds Governor’s Cup Collegiate Business Plan Competition two times in different categories was a reassurance for the duo that they were on the right path and that their idea did have a purpose in the future.
The competition also helped them with the needed financial assistance to open their first brick-and-mortar store, which eventually went on to become the Dragonfly Energy that we see today.
Now, the products of Dragonfly Energy which are sold under the brand Battle Born Battery, are one of the best lithium-ion batteries that are available in our market.
Dragonfly Energy – The Mission
Dragonfly Energy is one of the leading producers of deep-cycle lithium-ion batteries, which is aimed at building and providing an improved solution for effective energy storage, compared to traditional lead-acid batteries.
The batteries manufactured by Dragonfly Energies are said to power different devices and appliances, starting from simple household devices to even RVs.
The company not only manufactures the batteries but also makes sure that the green energy store is available and accessible to all. The company also carries out research in the field of lithium-ion batteries for developing a better model than the existing one and also bring new innovations and changes.
The products that are manufactured by the company are made available for customers under the name Battle Born Batteries.
Dragonfly Energy – The Team
Dragonfly Energy is an American renewable energy semiconductor manufacturing company that has its headquarters in Reno, Nevada, USA. The company was established by Sean and Denis and was officially opened in 2014.
Dr. Dennis Phares is the current president and chief executive officer of the company. Before Dragonfly Energy, Phares used to work as a tenured professor of Aerospace and Mechanical Engineering at the University of Southern California.
Phares has a minimum experience of 15 years in the field and he is also the holder of multiple patents which play a key role in the development of lithium-ion technology.
He also holds a bachelor’s degree in physics from Villanova University. He also has a master’s degree and also a Ph.D. in Environmental Engineering Science from Caltech. He earned his MBA from the University of Nevada, where he met the co-founder of the company.
John Marchetti, who used to work as the managing director and senior research analyst at Stifel, currently serves as the Chief financial officer of the company.
The remaining important personalities associated with the company include the chief revenue officer Wade Seaburg, Chief legal officer Nicole Harvey, and chief marketing officer Tyler Bourns. Dr. Denis Phares also serves as the chairman of the board of directors of the company.
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Reason To Invest In Lithium Stocks
While older times depended on lead-acid batteries for energy needs, lithium-ion batteries are destined to replace conventional ones in the coming future.
As lithium-ion batteries have a less harmful impact on nature when compared to traditional ones, lithium-ion batteries will be preferred in the coming years by almost everyone.
Also, it should be noted that being a lightweight metal, lithium is one of the key ingredients in the making of lightweight power-dense batteries which are used in electric vehicles.
As there is a global shift from traditional vehicles to electric vehicles owing to the high price of fuels and also due to the high risk of environmental pollution. Due to such reasons, there had been an almost 57% rise in the sale of electric vehicles in 2022 on a year-over-year basis.
As there is a high demand for electric vehicle batteries, the price of lithium has also seen a sudden surge. According to the available reports the price of lithium is said to have quadrupled over the 12 months to September 2022.
According to Elon Musk, who is the owner of one of the biggest electric car companies Tesla, lithium batteries will be one of the most important commodities in the future.
He has pointed out that switching to an electric vehicle might lessen the reliance on energy but people will rather start to rely on lithium batteries, which prompted him to say that “lithium batteries are the new oil.”
As there are only quite a few companies that are engaged in mining, processing, and refining lithium as of now. Other companies are just in their early stage and are still working on their lithium products.
Before investing in lithium, factors like the revenue of the company, price of lithium, quality of their products, and also the potential of the company for stock returns should also be considered.