Dragonfly Energy Holdings Corp (NASDAQ:DFLI) shares surged 20.3% in premarket trading on Thursday after the energy storage company announced it had been awarded funding from Nevada Tech Hub, a program aimed at strengthening the state’s lithium battery supply chain.
The grant, valued at around $300,000, will support modernization projects and workforce development initiatives at Battle Born Batteries, Dragonfly Energy’s manufacturing arm. The non-dilutive funding will be used to advance ISO 9001 certification, upgrade production systems, and enhance battery manufacturing lines.
These projects are expected to deliver six-figure annual savings for Dragonfly Energy, allowing reinvestment in workforce training programs with partners such as Truckee Meadows Community College and the University of Nevada, Reno.
“This award is more than just an investment in Dragonfly Energy, it is an investment in Nevada’s future,” said Dr. Denis Phares, chief executive officer of Dragonfly Energy. “This non-dilutive capital is highly beneficial to our growth strategy.”
The company plans to hire and train production-floor staff, expanding career pathways in machining, automation, and maintenance. With nearly 400,000 square feet of manufacturing space in South Reno, Dragonfly Energy aims to scale its operations while creating high-value clean energy jobs in Nevada.
Nevada Tech Hub is one of 31 federally designated Tech Hubs across the country, recognized for their role in advancing critical technology sectors. The funding agreement with Dragonfly Energy is currently being finalized.
Dragonfly Energy Holdings Corp stock price
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