Dragonfly Energy Holdings (NASDAQ:DFLI) shares are gliding higher today after the maker of lithium-ion batteries announced a key patent win.
Dragonfly expects to be granted a patent after a notice of allowance from the U.S. Patent and Trademark Office for the look and design of the assembly case for DFLI’s GC3 battery pack.
The new design offers a higher energy density and even more flexible solutions versus traditional lead acid and lithium batteries. The GC3 deep cycle battery is commercially available under DFLI’s Battle Born brand of batteries and Dr. Denis Phares, the CEO of DFLI commented, “Our signature deep cycle batteries are well known in our core markets and position us to expand into new industries.”
Importantly, the new design allows custom installations and further boosts DFLI’s strong intellectual property portfolio of over 55 issued and pending patents.
Despite today’s price gains, Dragonfly shares are still down nearly 84% over the past year. Additionally, short interest in the stock remains elevated at ~12.4% at present.
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