Dragonfly Energy to be Awarded Nevada Tech Hub Funding to Advance Battery Manufacturing and Workforce Development
Nevada Tech Hub selects Dragonfly Energy for first-round funding, with contract finalization in progress
Funding to support manufacturing upgrades that are expected to improve efficiency and reduce costs
Project to expand Nevada’s skilled battery workforce through new training and hiring initiatives
RENO, Nev., Oct. 02, 2025 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage and maker of Battle Born Batteries®, announced today that Nevada Tech Hub, a program designed to strengthen Nevada’s lithium battery supply chain, has selected the Company for funding in its first round of awards. The contract is currently being finalized.
Nevada Tech Hub is one of 31 Tech Hubs nationwide designated by the federal government as playing a key role in a critical key technology focus area. Its mission is to support the further development of the state’s lithium battery and critical materials ecosystem. With the support of state funding, Nevada Tech Hub awarded Dragonfly Energy for its contribution to lithium battery manufacturing capacity and workforce development.
Dr. Denis Phares, chief executive officer of Dragonfly Energy, said:
This award is more than just an investment in Dragonfly Energy, it is an investment in Nevada’s future,
“As a homegrown Nevada company, we are proud to contribute to the state’s vision of becoming the nation’s center for lithium battery innovation. By modernizing our operations and expanding our skilled workforce, we believe we can both drive efficiencies that benefit our shareholders, customers, and employees by creating long-term economic growth and high-value jobs across the state. This non-dilutive capital is highly beneficial to our growth strategy.”
The award, expected to total approximately $300,000, will be applied toward high-impact modernization and workforce development initiatives. Key elements of the project include advancing toward ISO 9001 certification, modernizing production systems, and upgrading the Company’s battery manufacturing lines. These initiatives have the potential to result in six-figure annual savings, enabling reinvestment into workforce training and development with partners such as Truckee Meadows Community College and the University of Nevada, Reno.
In addition, Dragonfly Energy plans to recruit and upskill production floor personnel, expanding career opportunities in machining, automation, and maintenance. With nearly 400,000 square feet of manufacturing space in South Reno, the Company believes it is positioned to scale operations while anchoring high-value clean energy jobs in Nevada.
Dick Bartholet, regional innovation officer for Nevada Tech Hub, said,
Supporting industry leaders like Dragonfly Energy is central to Nevada Tech Hub’s mission,
“By providing funding for projects that advance both manufacturing capacity and workforce development, we are strengthening multiple segments of Nevada’s lithium battery and EV materials loop. Investments like these not only modernize production but also create opportunities for more Nevadans to gain the skills needed to thrive in the critical materials and energy storage economy.”
Dragonfly Energy’s collaboration with Nevada Tech Hub and Nevada’s academic community highlights its role in advancing regional innovation. We believe these upgrades will improve efficiency, support revenue growth, and deepen integration into Nevada’s “Lithium Loop” of domestic extraction, processing, manufacturing, and recycling.
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Dragonfly Energy to be Awarded Nevada Tech Hub Funding to Advance Battery Manufacturing and Workforce Development, source
