Dragonfly Energy enters $30M licensing agreement with Stryten Energy

Dragonfly Energy announced a strategic partnership with Stryten Energy for the licensing of the Dragonfly Energy’s Battle Born Batteries brand of lithium-ion batteries. The agreement, with a potential value of up to $30 million, grants Stryten Energy a license to market and distribute Dragonfly Energy’s Battle Born Batteries globally. Stryten Energy plans to leverage its vast distributor and customer network to introduce Battle Born Batteries branded products to new business-to-business markets, including military, automotive, marine, power sports, lawn & garden and golf carts. Dragonfly Energy will receive an initial licensing fee of $5 million and have the right to mid-single digit royalty payments for up to an additional $25 million.