Dragonfly Energy Holdings Corp. ( DFLI ) shares are trading higher Wednesday after the company announced the issuance of a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its Dragonfly IntelLigence battery communication technology.

DFLI shares are powering higher on strong volume. Get the market research here.

What To Know: The USPTO has issued a Notice of Allowance for Dragonfly Energy’s latest patent application, expanding the company’s growing portfolio of U.S. intellectual property.

The newly allowed patent covers technology enabling multiple battery systems and wireless devices to communicate over a connected mesh network. Through this technology, key operating data can be shared and warning codes can be propagated even if one of the battery systems is powered down.

"This patent strengthens our Dragonfly IntelLigence platform and represents a major step forward in connected battery technology," said CEO Denis Phares.

"By giving our batteries the ability to communicate directly with one another via our Battle Born HUB product, we’re enabling a more intelligent, adaptive, and efficient energy ecosystem."

Dragonfly said the milestone expands its U.S. intellectual property portfolio and supports its goal of advancing American battery technology and manufacturing.

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DFLI Price Action: At the time of writing, Dragonfly shares are trading 28.76% higher at $1.97, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.