KULR Technology Group, Inc. (OTCQB: KULR)

Get Top Rated Stock Alerts Active Traders Depend On

Sign Up Today For FREE News Driven Alerts

KULR Technology Group Partners with Airbus to Provide Battery Safety Solutions

Partnership with leading global aerospace company underscores KULR’s commitment to battery safety worldwide

 

San Diego, CA – October 6, 2020 KULR Technology Group, Inc. (OTCQB: KULR), (the “Company” or “KULR”) today announces it is partnering with Airbus Defense and Space to provide KULR’s passive propagation resistant (PPR) battery design solutions for ongoing research into lithium-ion battery testing and safety for flight applications. The electrical engineers at Airbus (OTC: EADSY) (Euronext: AIR) do research and develop safe battery solutions for defense, space, helicopter, and aircraft applications.

 

KULR’s PPR design combines HYDRA Thermal Runaway Shield (TRS), LYRA internal short circuit, and NASA’s Fractional Thermal Runaway Calorimeter cell analysis technologies to provide an integrated total solution for battery testing and safety. HYDRA TRS is a sleeve-like shield that surrounds and separates individual cells in multi-cell packs and contains carbon fiber core and liquid coolant. The unique combination and configuration of the shield passively draws intense heat of cell failures away from nearby cells while dousing the failed area in a cooling and fire-prevention liquid.

 

Though weight and volume of thermal management solutions are the most critical constraints in flight applications, KULR’ carbon fiber architecture offers superior mass and weight advantages.

 

“We are excited to work with Airbus to refine and enhance its battery safety research, an agreement that further demonstrates our commitment to battery safety in consumer and commercial applications,” said Michael Mo, CEO of KULR.  “We believe our TRS technology can provide a lightweight and effective solution to mitigate thermal runaway propagation risk for Airbus’ high-performance batteries.”

 

KULR’s HYDRA TRS is proven by various government testing authorities to stop or mitigate the impacts of dangerous lithium-ion battery failures known as thermal runaway propagation. Last year, Leidos (NYSE: LDOS) and NASA used KULR’s HYDRA TRS technology to safely ship to and store batteries aboard the International Space Station. In addition, NASA’s Marshall Space Flight Center (MSFC) recently awarded KULR a dual-use technology development agreement to build 3D printed battery systems for manned and robotic space applications.

 

About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.

 

Safe Harbor Statement

 

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time.  In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services.  We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

 

Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
derek.newton@kulrtechnology.com

 

Investor Relations:

KULR Technology Group, Inc.

Main: (888) 367-5559

ir@kulrtechnology.com

 

Source:  KULR Technology Group, Inc.

KULR Technology Group and Hazmat Safety Consulting Begin Work to Improve Industry Standards for Commercial Shipments of Batteries

Comes on the heels of KULR’s recent announcement on its participation in meetings with the United Nations Transport of Dangerous Goods Sub-Committee Informal Working Group

  

San Diego, CASeptember 02, 2020 KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”) today announced that the Company has commenced work on helping establish updated industry safety standards for lithium battery packaging used to ship batteries commercially. In April 2020, the Company announced a partnership with Hazmat Safety Consulting (“Hazmat”), an organization with over 60 years of combined experience in developing, influencing, and interpreting lithium battery safety regulations for the safe transport of lithium batteries.

 

This week, KULR is participating in meetings of the United Nations Transport of Dangerous Goods Sub-Committee Informal Working Group to establish test methods and criteria by which lithium batteries can be more effectively regulated based on their inherent hazards. On September 15, 2020, the Company will present to a subcommittee of the Transportation Research Board on the Prevention of Thermal Runaway Propagation in Lithium Batteries. KULR’s passive propagation resistant (PPR) design solutions prevent dangerous cell-to-cell thermal runaway propagation. KULR’s PPR solutions were recently adopted by NASA for use in future space missions.

 

Lithium battery fires — such as the incidents that destroyed a UPS plane in 2010 and a FedEx truck in 2016– have increasingly become a public safety concern. The National Transportation Safety Board (NTSB) has called for stricter testing and shipping standards for lithium batteries and submitted safety recommendations to the Pipeline and Hazardous Materials Safety Administration (PHMSA), a division of the Department of Transportation responsible for developing, issuing, and enforcing safety regulations for the transport of hazardous materials, in May 2020.

 

“Bob Richard, President of Hazmat, who formerly served as the Deputy Associate Administrator for the PHMSA and Chairman of the UN Sub-Committee of Experts on the Transport of Dangerous Goods, will be instrumental in guiding us through the steps required to implement minimum packaging standards required to ship lithium batteries,” said Michael Mo, CEO of KULR. “Our PPR technologies are world-class solutions for preventing dangerous battery fires, and we share the NTSB’s, concerns about current safety standards. Requiring that lithium batteries be shipped in packaging capable of preventing thermal runaway propagation makes logical sense and should be taken into serious consideration by the PHMSA.”

 

According to Verified Market Research, the global lithium ion battery market was valued at $36.35 Billion in 2019 and is projected to reach $115.98 Billion by 2027, growing at a CAGR of 15.6% from 2020 to 2027.

 

Last year, NASA used the Company’s PPR technology to safely transport to and store lithium batteries aboard the International Space Station as well as collaborated with KULR on NASA’s high-voltage battery safety guide. Earlier this year, KULR licensed its technologies to Americase, which provides the world’s most widely used return packaging solution for damaged, defective, or recalled batteries.

 

About KULR Technology Group, Inc.

 

KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.

 

 About Hazmat Safety Consulting
HSC has over 60 years of combined experience in developing, influencing, and interpreting lithium battery safety regulations for the safe transport of lithium batteries. The Company specializes in applying years of experience working with US and international regulators, shippers, carriers, freight forwarders, standards body officials and others related to the transport of dangerous goods.  For more information, please visit, https://www.hazmatsafety.com.

 

Safe Harbor Statement

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time.  In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services.  We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

 

Investor Relations:

Keith Pinder

Landon Capital

Main: (404) 995-6671

kpinder@landoncapital.net

 

Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
derek.newton@kulrtechnology.com

 

Source:  KULR Technology Group, Inc.

KULR Technology Group to Participate in United Nations Working Group on Lithium Battery Classification

Company to apply its experience and expertise on UN Working Group’s new lithium battery classification system

 

San Diego, CA – August 31, 2020 – KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”) today announces that it will participate in meetings of the United Nations Transport of Dangerous Goods Sub-Committee Informal Working Group to establish test methods and criteria by which lithium batteries can be more effectively regulated based on their inherent hazards. The event will take place in Brussels, Belgium, and virtually online on August 31- September 2, 2020.

 

Regulatory agencies and international organizations are increasingly concerned with the prevention of battery fires in transport, such as those that have sporadically occurred aboard aircrafts and trucks. The UN Working Group is considering regulations and a new classification system of lithium batteries based on risk factors such as chemistry, form factor, quantities of flame, heat and gas released, and whether they propagate when a cell is intentionally forced into thermal runaway.

 

A new classification system would require lithium battery manufacturers to test batteries to assess and better understand the risk they pose in transport. The objective is to incentivize battery manufacturers to understand the risks posed and to design safer batteries.

 

Of particular interest to regulatory bodies are KULR’s passive propagation resistant (PPR) design and proprietary internal short circuit (ISC) battery safety testing technology. As a provider of space-proven expertise in the design, manufacturing, testing and development of innovative risk mitigation solutions to enhance lithium battery safety, KULR strongly supports regulatory initiatives that promote the development of safer lithium batteries.

 

“KULR agrees with regulators and industry experts that sound battery design, testing and packaging play a critical role in reducing the likelihood of cells and batteries experiencing thermal events. These factors are also crucial in reducing the hazards when a cell or battery experiences a thermal event,” said Michael Mo, CEO of KULR. “Reducing the probability and limiting the effects of mass thermal runaway propagation is an absolute must. KULR is strategically suited to support the UN Working Group’s initiatives and is eager to provide solutions to meet current and future regulatory requirements. We look forward to participating in this incredible meeting to pursue next-level safety standards for today’s battery technology.”

 

About KULR Technology Group, Inc.KULR Technology Group, Inc. (OTCQB: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.

 

Safe Harbor Statement

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time.  In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services.  We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

 

Investor Relations:
Keith Pinder
Landon Capital
Main: (404) 995-6671
kpinder@landoncapital.net

 

Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
derek.newton@kulrtechnology.com

 

Source: KULR Technology Group, Inc.

About KULR Technology Group


DISRUPTIVE THERMAL MANAGEMENT SOLUTIONS

 

KULR’s disruptive thermal management technologies strive to fulfill an addressable $24 Billion thermal management systems market. KULR’s integrated design approach offers comprehensive solutions in thermal interface materials, lightweight heat exchangers, and protection against lithium-ion battery thermal runaway propagation. Our high-performance solutions can be designed to fit almost any power or electronic configuration, including extremely demanding spaces or for applications where size and weight restrictions are a concern.

 

MAKING THE WORLD OF ELECTRONICS COOLER, LIGHTER, AND SAFER

 

Since 2016 we have witnessed dramatic changes in the world of electronics with an automotive industry transitioning into the electrification of vehicles and the advent of 5G communications technologies that will accelerate cloud computing growth. Such applications have progressively become more powerful and often require improved forms of thermal management or electronics and battery cooling technologies.

 

Our plan of execution starts with providing our customers with the best battery testing methodologies as well as cost-effective cooling technologies that outperform traditional solutions, delivering a reliable, safer, and more energy-efficient product to the end-user.

 

MANAGEMENT

 

KULR Technology Group, Inc. was founded by some of the foremost experts in energy, thermal management, semiconductor and industrial manufacturing. Our investors and advisors include industry leaders from the US, Japan, and China, all from a variety of different fields, including electric vehicles, communications, energy management, and semiconductors.

 

MICHAEL MO
Chief Executive Officer

 

Mr. Mo is a technology entrepreneur and successful investor with over 20 years of experience in technology management, product development and marketing. From 2007 to 2015, Mr. Mo served as Senior Director of Business Development at Amlogic, Inc. Prior to Amlogic, he was co-founder and CEO of Sympeer Technology, a peer-to-peer network company. Mr. Mo received a Master’s degree in Electrical Engineering from UC Santa Barbara in 1995.

 

DR. TIMOTHY KNOWLES
Chief Technology Officer

 

Dr. Knowles has over 30 years of thermal management R&D experience having led teams that developed high-performance thermal management products for numerous high-caliber aerospace and industrial applications. Previously, he served as president of Energy Science Laboratories, where his team developed the core Carbon Fiber Cooling technology utilized in KULR’s products today. Dr. Knowles received a Ph.D. in Physics from UC San Diego in 1977.

 

SIMON WESTBROOK
Chief Financial Officer

 

In 2009, Mr. Westbrook founded Aargo, Inc., a company specializing in financial consulting services to corporations in various tech-related industries. Prior to Aargo, Mr. Westbrook was CFO of Amber Networks, Inc., and the Chief Financial Officer of Sage, Inc. (NASDAQ: SAGI), a Silicon Valley company specializing in flat panel displays. Before Sage, Mr. Westbrook held senior level financial positions at Creative Technology (NASDAQ: CREAF) and Atari Corp (AMEX: ATC). Simon is a Chartered Accountant and holds a Master’s degree in Economics from Trinity College, Cambridge University.

 

MICHAEL G. CARPENTER
Vice President of Engineering

 

Mr. Carpenter was former Director and Safety Officer of Energy Science Laboratories PCM Heatsink Group. He also served as Quality Manager and Facility Security Officer in the Defense Industrial Security Program from 1988 to 1995. Mr. Carpenter received a B.S. in Applied Mechanics from UC San Diego in 1983.

 

SARA FEULNER
Vice President of Human Resources

 

Ms. Feulner has 20 years of HR and Operations experience in the technology industry. The majority of her career was spent at ARM as the Global Vice President of Human Resources. During her tenure the organization grew from 500 to 3000 employees and $100M to over $1Bn in revenue. She has lived and worked internationally and now specializes in leading edge HR and operations consulting for small to medium size tech companies. Sara is an alumnus of Harvard Business School’s Program for Leadership Development and holds a Master’s Degree from Trinity University in San Antonio, Texas.

 

SOURCE:  https://kulrtechnology.com/

Disclaimer

FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates electronic information through multiple online media channels. FNMG’s intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company’s publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated forty five hundred dollars for KULR Technology Group, Inc. current news coverage by a non-affiliated third party.  FNMG HOLDS NO SHARES OF KULR Technology Group, Inc.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

Sign Up & Get FREE News Alerts From FNM Today!