
Shares of Dragonfly Energy Holdings Corp (NASDAQ:DFLI) are trading higher Friday morning. The stock is higher by 100% this week after the company announced it has been selected by Nevada Tech Hub for first-round funding. The contract is currently being finalized.
What To Know: The funding will support the advancement of Dragonfly’s battery manufacturing capabilities and workforce development. The award, expected to be approximately $300,000, will be used to modernize production systems, upgrade the company’s Battle Born Batteries manufacturing lines and work toward ISO 9001 certification. These initiatives are expected to improve efficiency and reduce costs.