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Dragonfly Energy and Ioneer Sign Lithium Supply Agreement
Partnership Strengthens Domestic Supply Chain The agreement moves Dragonfly Energy closer to achieving the Company’s mission of establishing a vertically
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[{"type":"text","content":"Partnership Strengthens Domestic Supply Chain\nThe agreement moves Dragonfly Energy closer to achieving the Company’s mission of establishing a vertically integrated lithium battery cycle, from mining to production to recyclingNevada Gov. Joe Lombardo states the importance of partnerships like those between Dragonfly Energy and Ioneer are vital to strengthening and diversifying Nevada economyAgreement advances Nevada production and manufacturing of critical minerals and accelerates domestic electrification pipeline for Lithium battery components RENO, Nev., May 09, 2023 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (“Dragonfly” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage, and Ioneer Ltd. (“Ioneer”) (Nasdaq: IONR, ASX: INR), an emerging lithium-boron producer, today announced a commercial offtake agreement that the Company believes will strengthen U.S. battery supply chains and invest in the production and manufacturing of Nevada-sourced lithium. The agreement between the two Nevada-based companies is expected to pave the way for continued investment in the state and provide Dragonfly with a domestic supply of lithium carbonate, a critical component in lithium iron phosphate battery cells. The agreement builds on an effort to produce, utilize and recycle lithium, closing the lithium loop in Nevada that Gov. Joe Lombardo has prioritized for his administration, detailed in both his recent State of the State address and his Five Year Strategic Plan. “This agreement between Dragonfly Energy and Ioneer, and hopefully more like it in the future, are vital to our economy as we work to develop this new industry, secure Nevada’s energy independence and close the lithium loop,” said Nevada Governor Lombardo. “In the future, we hope to see more Nevada companies creating innovative partnerships like this one, which will help strengthen our economy and demonstrate how Nevada is the lithium capital of North America.” “Deploying our innovative dry powder coating cell manufacturing process is exciting. But ultimately, cell production is only made possible by access to lithium,” Dr. Denis Phares, CEO of Dragonfly Energy, said. “This agreement gives us the opportunity to bring our entire manufacturing process not only to the U.S. but to Nevada, from mining to manufacturing to recycling .” “As the world’s demand for...