Palm Beach, FL – December 13, 2022 – FinancialNewsMedia.com News Commentary – A battery management system (BMS) is described as an electronic system that controls and monitors the charging and discharging of batteries and provides notifications about the status and condition of battery packs. In addition, providing critical safeguards to protect batteries from damage is one of the primary functions of the battery management system. The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels. By application, the market is segmented into stationary, portable, and transportation. A report from Mordor Intelligence projected that the global battery management system market is expected to reach USD 8.53 billion by the end of the year (2022), and it is projected to register a CAGR of over 4.85% during the forecast period (2027). The report said: “Over the medium term, the growing demand for battery management systems is expected to stimulate the market growth of battery management systems. Furthermore, the increasing adoption of electric vehicles, the need for robust charging infrastructure, and the focus on increasing the energy efficiency of batteries are also expected to drive the growth of the market studied. Nevertheless, technological advancements in battery management systems with advantages, such as reduced complexity, better efficiency, and improved reliability, among others, are expected to provide growth opportunities in the forecast period. The Asian-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the rapid rise in sales of electric vehicles in countries like China and Japan. This rise has been due to the extensive efforts of the governments to reduce greenhouse gas emissions.” Active stocks in news today include: KULR Technology Group, Inc. (NYSE: KULR), Microsoft Corp. (NASDAQ: MSFT), QuantumScape Corporation (NYSE: QS), FREYR Battery (NYSE: FREY), Solid Power, Inc. (NASDAQ: SLDP).
It concluded: “The global production of batteries for electric vehicles is mainly concentrated in the Asian-Pacific region, with Chinese, Japanese, and South Korean companies dominating the sector and building European factories to conserve their supremacy. China’s significant market share in the midstream and downstream value chain of li-ion batteries makes it the largest producer of li-ion batteries globally. The country is also making efforts to reduce air pollution levels, which is expected to register a high growth rate in the sales of electric vehicles and lead to high demand for EV batteries. Additionally, China is the global hotspot for electric vehicle battery manufacturing. There are 93 Giga factories in China, and the country is projected to have around 130 by 2030; the country is expected to dominate the market during the forecast period. This, in turn, is expected to create tremendous demand scope for battery management systems in the country.”
KULR Technology Group, Inc. (NYSE American: KULR) BREAKING NEWS – KULR’S CELLCHECK BATTERY MONITORING SYSTEM LAUNCHES ON MICROSOFT’S AZURE CLOUD COMPUTING SERVICE – Built on Azure Cloud, the Modular Battery Management System Platform Leverages Azure Cloud’s Advanced AI Functionality to Collect and Analyze Data From all KULR products – KULR Technology Group, (the “Company” or “KULR”), a leading energy management platform company accelerating the global transition to a sustainable electrification economy, today announced that its CellCheck Battery Monitoring System is now running on the Azure Cloud Computing Service by Microsoft (NASDAQ: MSFT). This next-generation battery safety technology captures real-time and lifetime battery data allowing it to detect adverse electrical, environmental and physical events resulting in maximum battery safety, reliability, and performance. In its new iteration, CellCheck devices can wirelessly transmit live sensor data from the edge to the Azure Cloud where it is displayed on an extensive dashboard system.
“Electrifying the circular economy will generate vast streams of high-value data,” said Keith Cochran, President and COO of KULR Technology Group. “We are developing cutting-edge solutions that enable our customers to realize the full value of this data – from using predictive analytics for preventing thermal runaway, to using battery intelligence data for enhancement of operational performance, to using sustainability data to visualize ESG and climate impact. CellCheck technology will dramatically increase the safety of battery packs by providing instant analysis of current and historic health. We believe this to be a game-changing product for the $44 billion lithium-ion battery market.”
Through CellCheck, individuals, companies, municipalities or manufacturers can monitor the lifetime health of singular batteries, larger battery modules, or battery-powered systems remotely and in real-time using this scalable cloud infrastructure.
CellCheck data facilitates a path toward Battery Safety Artificial Intelligence (“AI”) and may be integrated by original equipment manufacturers (“OEM”) into battery modules for use across e-mobility, power tools, drones, vehicles, industrial equipment and local or remote UPS systems, along with a wide range of other mission-critical, battery-powered applications.
KULR will demonstrate CellCheck on Azure Cloud with live sensor data capture at the upcoming 2023 International Consumer Electronics Show in Las Vegas on January 5-8, 2023. CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In other industry news of note includes:
Microsoft Corp. (NASDAQ: MSFT) recently announced it agreed to buy a 4% stake in London Stock Exchange Group Plc in a $2.8 billion cloud-computing deal that pushes big tech further into financial markets.
As part of the agreement, LSEG said it will spend at least that amount on cloud services with Microsoft over the next 10 years. The partnership will speed up the migration of its markets to the cloud and allow it to develop new products and services, it said Monday.
The transaction adds to a recent trend of exchanges and tech firms linking up after similar partnerships between Nasdaq Inc. and Amazon.com Inc., as well as Alphabet Inc.’s Google and CME Group. It points to increased demand from investors for information that gives them an edge in increasingly fast electronic markets.
QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries, recently announced its business and financial results for the third quarter of 2022, which ended September 30.
The company posted a letter to shareholders on its Investor Relations website, ir.quantumscape.com, that details third-quarter financial results and provides a business update. QuantumScape recently hosted a live webcast accessible via its IR Events page. Jagdeep Singh, co-founder and chief executive officer, and Kevin Hettrich, chief financial officer, participated on the call. An archive of the webcast will be available after the call for 12 months.
FREYR Battery (NYSE: FREY), a developer of clean, next-generation battery cell production capacity, and Nidec Corporation (“Nidec”), a globally leading producer of high-efficiency electric motors and a leader in the energy storage systems (“ESS”) space, have recently announced that they have established a downstream joint venture, now called Nidec Energy AS (“Nidec Energy”).
The newly established Nidec Energy aims to develop and supply highly competitive, integrated battery energy storage solutions (“BESS”) and products with low environmental impact. Mass production is expected to commence in 2025, with the ambition to manufacture more than 8 GWh per year of battery modules and packs from 2027, and 12 GWh per year by 2030.
Solid Power, Inc. (NASDAQ: SLDP), an industry-leading developer of all-solid-state battery cells for electric vehicles, recently announced that Douglas Campbell has decided to retire from his role as Chief Executive Officer and a member of the Board of Directors, effective immediately. The Solid Power Board has appointed David Jansen, the company’s Chair and President, as Interim Chief Executive Officer.
Solid Power’s Board of Directors has commenced a comprehensive search process to identify a permanent CEO with the assistance of a leading, independent executive search firm and will consider internal and external candidates. “Since co-founding Solid Power in 2011, Doug has served as a passionate entrepreneur, beginning with the company’s earliest stages as a spin-off from the University of Colorado,” said John Stephens, Lead Independent Director. “He oversaw the company during key inflection points, including the initial research and development of the company’s battery technologies, securing key partnerships with governmental agencies and industry-leading automotive manufacturers, and its successful de-SPAC transaction in 2021. On behalf of the Board of Directors, I want to thank Doug for all he has done for Solid Power.”
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