RENO, Nev., June 23, 2026 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) ("Dragonfly Energy" or the "Company"), an industry leader in energy storage and maker of Battle Born Batteries®, today announced the appointment of Dr. Lukas Lutz to its Board of Directors.

Dr. Lutz brings a combination of deep technical expertise in battery technology and developing artificial intelligence and machine learning applications for the engineering world. Together with Luca Scherrer and Dr. Daniel Alves Dalla Corte, he is Co-Founder of Sphere Energy, a Germany-based technology company applying AI to engineering. Sphere has built an AI Operating System that enables large corporate environments to scale AI applications across their organizations. Its proprietary transformer-based models automate some of the hardest challenges in the field — from autonomously generating CAD parts from a single requirement, to optimizing complex crash scenarios, to simulating battery aging and performance from just a handful of tests.

He holds a Ph.D. in the Physical-Chemistry from the Université Paris-Sorbonne, co-chaired by the University of Oxford, a Master of Science in Physical Chemistry from ETH Zürich, and has conducted research in semiconductor materials at the University of California, Berkeley.

Dr. Lutz is actively engaged in the international battery ecosystem, including having served on several boards, such as on the Advisory Committee for The Battery Show Europe, where he helps shape industry dialogue around data-driven battery innovation, and the technology advisory board of a German Premium Power-Tooler.

"Dragonfly Energy is uniquely positioned in its ability to access and leverage extensive real-world battery data," said Dr. Lukas Lutz. "The combination of that data, proprietary battery management systems, and deployed systems in the field creates a strong foundation for applying artificial intelligence and machine learning to improve performance, accelerate development, and better understand battery behavior over time. I look forward to supporting the team as they continue to advance this opportunity."

"We are pleased to welcome Dr. Lutz to our Board of Directors," said Dr. Denis Phares, Chief Executive Officer of Dragonfly Energy. "His experience at the intersection of battery science and advanced data modeling aligns well with our focus on advancing battery technology through integrated system design and manufacturing innovation. Dragonfly Energy’s ability to connect field performance data with in-house testing and cell development, including our dry electrode manufacturing platform, is a key part of our long-term strategy. Dr. Lutz’s perspective will be valuable as we continue to build on that foundation."

The appointment reflects Dragonfly Energy’s continued focus on integrating data and advanced analytics across its technology platform. With a large installed base of Battle Born Batteries, proprietary battery management systems, and in-house research capabilities, the Company is able to study battery performance from real-world use down to the molecular level. These insights support ongoing advancements in battery design, lifecycle performance, and next-generation cell manufacturing, including its patented dry electrode and solid state technologies.

For more information about Dragonfly Energy, visit Dragonflyenergy.com.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries^® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit investors.dragonflyenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company's intent, belief, or expectations, including, but not limited to, statements regarding the Company’s new board member, the Company's future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "plan," "targets," "projects," "could," "would," "continue," "forecast" or the negatives of these terms or variations of them or similar expressions.

These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company's control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company's subsequent filings with the SEC available at www.sec.gov. If any of these risks materialize or any of the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Relations

Eric Prouty

Szymon Serowiecki

AdvisIRy Partners

DragonflyIR@advisiry.com

Dragonfly Energy Media Relations

media@dragonflyenergy.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9196ee16-8155-43db-91e5-8e0618a85c3c

Source: Dragonfly Energy Holdings Corp.

Dragonfly Energy Appoints AI and Battery Technology Innovator Dr. Lukas Lutz to Board of Directors