Dragonfly Energy Launches Smart Lithium

New Lithium Battery Communication Technology, Off-grid Power Solutions and Accompanying Accessories Coming Spring 2023

RENO, Nev., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. ("Dragonfly Energy" or the "Company") (Nasdaq: DFLI), maker of Battle Born Batteries and an industry leader in energy storage, announces the impending launch of Dragonfly IntelLigence™, along with a host of accompanying products and accessories, which provide advancements in the lithium-ion battery space for backup power and off grid energy storage solutions.

Dragonfly IntelLigence™ technology will provide Battle Born Batteries with reliable communication capabilities via unique mesh network connectivity, enabling accurate remote monitoring for entire lithium battery banks via the Dragonfly Energy Mobile App. Customers can ensure they will have power when they need it, with full visibility into the status of their power system based on the ability to monitor voltage, temperature, current load, battery health, system balance and more.

One of the key products within the Dragonfly IntelLigence™ family is the new Dragonfly Wing™, an expandable power storage solution that is easy to install and configure for a variety of energy storage applications including home, industrial and mobile. Featuring LiFePO4 Battery chemistry, this energy storage system is not only safe and reliable, but features a number of new patented technologies including hybrid balancing, selectable voltage and built-in soft start.

An extensive line of Dragonfly IntelLigence™ compatible accessories will also be available from Dragonfly Energy, expanding the capabilities of a smart lithium battery power system with features designed to protect and optimize the batteries and system as a whole.

"Dragonfly IntelLigence™ technology provides robust communication protocols with data collection and analysis to ensure that storage solutions operate at peak performance. We believe our new technologies expand capabilities and give customers confidence in their power system at all times, especially as they work toward backup and off-grid energy storage solutions," said Dr. Denis Phares, CEO of Dragonfly Energy. "Our engineering and R&D teams are continually working to support changing industry needs and to provide solutions to minimize the complexity that comes with many lithium-ion battery systems. Our new suite of products is a direct result of identifying these needs and creating intuitive solutions that put safety and reliability first."

Dragonfly IntelLigence™ and accessories will be available spring of 2023. To stay informed on Battle Born Batteries and Dragonfly IntelLigence™ products, visit www.DragonflyEnergy.com/dragonflyintelligence and sign up for email notifications to be the first to know about preorders, product launches and availability.

To learn more about Dragonfly Energy, visit DragonflyEnergy.com.

About Dragonfly EnergyDragonfly Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada, is a leading supplier of deep-cycle lithium-ion batteries. Dragonfly Energy's research and development initiatives are revolutionizing the energy storage industry through innovative technologies and manufacturing processes. Today, Dragonfly Energy's non-toxic deep cycle lithium-ion batteries are displacing lead-acid batteries across a wide range of end-markets, including RVs, marine vessels, off-grid installations, and other storage applications. Dragonfly Energy is also focused on delivering an energy storage solution to enable a more sustainable and reliable smart grid through the future deployment of its proprietary and patented solid-state cell technology. To learn more, visit www.dragonflyenergy.com/investors.

Forward-Looking StatementsThis 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 the Company's new technology, 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. Factors that may impact such forward-looking statements include, but are not limited to: the Company's ability to recognize the anticipated benefits of the Company's recent business combination with Chardan NexTech Acquisition 2 Corp. and related transactions; the Company's ability to successfully increase market penetration into target markets; the growth of the addressable markets that the Company intends to target; the Company's ability to protect its patents and other intellectual property; and the Company's ability to generate revenue from future product sales and its ability to achieve and maintain profitability. These and other risks and uncertainties are described more fully in the Company's Registration Statement on Form S-4 (File No. 333-266273) relating to the business combination declared effective by the U.S. Securities and Exchange Commission the ("SEC") on September 16, 2022 and any subsequent filings with the SEC.

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 Sioban Hickie, ICR, [email protected]

Media RelationsAmy Demuth, RAD Strategies [email protected]

Source: Dragonfly Energy Holdings Corp.

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