Powering the Future: Dr. Denis Phares on Dragonfly Energy’s Path to Sustainable Lithium Innovation

The Digital Executive | Coruzant Technologies | Ep 1113 | September 17, 2025

Episode Overview

This episode features Dr. Denis Phares, President and CEO of Dragonfly Energy, in a rapid, insight-packed conversation with host Brian Thomas. The main focus: Dragonfly Energy’s journey from academia-driven R&D to industry leader in lithium-ion battery innovation, with a special emphasis on sustainable American manufacturing, the “Battle Born Batteries” brand, and the ambitious vision to close the lithium loop in Nevada.

Key Discussion Points & Insights

1. From Academia to Entrepreneurship

• Personal Journey & Motivation

  • Dr. Phares left a tenured engineering professorship at USC to found Dragonfly Energy, prioritizing real-world impact over academic research.
  • His research expertise in energy, nanotechnology, and climate issues inspired him to commercialize his patents, culminating in Dragonfly’s founding.

• Quote:

  “I decided that the most impactful way for me to move forward if I was bringing new technology into the world, was to do it through my own company. So that was really the impetus initially.”
  (Dr. Phares, [01:29])

• Commercialization Lessons

  • Phares highlights the difficulties of balancing academia and entrepreneurship, eventually opting to get an MBA and fully commit to the business.

2. Building a Brand-First Battery Business

• Early Go-To-Market Strategy

  • Dragonfly Energy focused on profitability and brand-building from the start, rare for “hard tech” companies which often chase VC funding over sales.
  • The “Battle Born Batteries” brand revolutionized the RV battery market by replacing unpopular lead-acid batteries, enabling true off-grid experiences.

• Quote:

  “Tech companies, often especially hard tech companies... tend to overlook the fact that the focus really should be on revenue rather than just going out and trying to get capital. That's a less risky way to run a tech company.”
  (Dr. Phares, [03:28])

• Self-Sustaining Growth

  • Early profitability funded further R&D and patent development, positioning Dragonfly Energy as a complete lithium-ion battery technology company.

3. Innovating American Battery Manufacturing

• Proprietary Dry Electrode Technology

  • Dragonfly developed a unique dry electrode cell manufacturing process, shielding it with strong intellectual property.
  • The goal: achieve competitive, efficient, and cost-effective domestic production despite cheaper overseas alternatives.

• Domestic Advantage Through Vertical Integration

  • By establishing a solid brand and customer base before scaling manufacturing, Dragonfly avoids the pitfalls that doomed other U.S. battery startups.

• Quote:

  “When we are manufacturing cells domestically, we actually have a place to put those cells. We don't have to go look for customers because we've already found them. And in fact we're our own customer."
  (Dr. Phares, [05:49])

• Different Path to Scaling

  • Dragonfly’s approach: secure the offtake (customers and brand) first, then invest in manufacturing—opposite the typical VC-fueled gamble.

4. Growth, Industry Impact, and the Nevada Lithium Loop

• Recent Business Milestones

  • As of July 2025: 23% YoY growth in Q2 sales, and reduced EBITDA losses, signalling a return to profitability after COVID- and interest-rate-driven RV market swings.

• Quote:

  “One thing that's really nice about being able to have a company that has revenue is that we can focus on revenue growth and start driving the profitability again. And that's exactly what we've done over the last few quarters.”
  (Dr. Phares, [08:52])

• Expansion Plans

  • Moving beyond RVs into heavy-duty trucking and other industrial applications where off-grid, robust battery solutions are needed.

• Vision for U.S. Manufacturing

  • Plans to manufacture battery cells domestically in Nevada, leveraging the state’s rich lithium resources and government support for the “lithium loop”: extraction, production, use, and recycling—all in-state.

• Quote:

  “We're actually in a great place. We're in the state of Nevada where we're very proud of the infrastructure that we're building here... the ability to take lithium out of the ground, produce cells, packs, and then recycle the lithium. And that's all in the state of Nevada. So we're really proud to be part of this whole ecosystem.”
  (Dr. Phares, [09:50])

Memorable Quotes & Moments

• “The most impactful way to bring that new tech or make the world a better place... is by having control of it, having a company leading that charge and bringing those solutions again to the world.”
  (Brian Thomas, [02:46])
• “You built out this strong brand initially which helped solidify your customer base when products came off the line... you are your own customer and I think that's pretty cool.”
  (Brian Thomas, [07:52])
• “Lithium ion batteries are well known to be manufactured primarily overseas. So it's an industry that has to be grown domestically.”
  (Dr. Phares, [09:23])

Timestamps for Key Segments

• 00:52 – Dr. Phares introduces his background and inspiration for founding Dragonfly Energy
• 03:28 – Discussing the unique go-to-market strategy with the Battle Born Batteries brand
• 05:49 – The importance and challenge of onshoring battery manufacturing and Dragonfly’s differentiated approach
• 08:52 – Operational results and future outlook: Expansion beyond RVs and into new markets
• 09:50 – The Nevada lithium ecosystem and Dragonfly’s commitment to domestic innovation

Episode Tone & Takeaways

The conversation is pragmatic yet optimistic, highlighting the gritty realities of battery manufacturing, the importance of being revenue-focused, and the role of homegrown innovation in America’s energy future. Dr. Phares comes across as both visionary and grounded—a rare blend in the clean tech startup space. His drive to create real-world impact through innovation, paired with disciplined business strategy, underpins much of Dragonfly’s success story as told in this episode.

For listeners seeking a blueprint for tech entrepreneurship in sustainable manufacturing or insights into the U.S. battery industry’s future, this episode offers concise, actionable inspiration.