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KULR Enters into an Agreement with Lockheed Martin for Heat Sink Advancements in Precision Missile Electronics

San Diego, CA – March 26, 2024 – KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in sustainable energy management, today proudly announces receiving a six-figure contract from Lockheed Martin (NYSE: LMT) for developing phase change material (“PCM”) heat sinks that are pivotal for the thermal regulation of essential electronics within long-range precision missiles. This achievement follows a series of successful evaluations that showcased the efficiency of KULR’s solutions in cooling critical onboard systems.  With over two decades of pioneering work in heat dissipation technologies, KULR has become a trusted provider for demanding sectors, including defense, aerospace, and beyond. This latest contract with Lockheed Martin underscores KULR’s role as a source of innovative cooling solutions.

 

KULR’s PCM heat sinks stand out for their efficient, lightweight, and durable design, ideal for managing the heat loads of systems requiring intense, short bursts of power. Such capabilities are crucial for maintaining the reliability and performance of sophisticated missile electronics. Lockheed Martin’s selection of KULR for this project reflects confidence in the company’s ability to meet the high standards required for aerospace and defense applications.

 

Ted Krupp, KULR’s VP of Sales and Marketing, expressed pride in this collaboration, stating, “Our partnership with Lockheed Martin validates our drive for excellence and innovation in managing high-stakes thermal challenges. Our work is critical for enhancing the capabilities of precision-guided weaponry.” KULR remains at the forefront of thermal regulation technology, continuously evolving its solutions to support safer, more efficient electronic and battery systems across a variety of applications.

 

According to Straits Research, the global electronic warfare market size is estimated to reach an expected value of USD 27.79 billion by 2030, registering a CAGR of 5.8% during the forecast period of 2022 to 2030.

 

For more information about KULR Technology Group and its innovative solutions, please visit http://www.kulrtechnology.com.

 

About KULR Technology Group Inc.

 

KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit www.kulrtechnology.com.

 

Safe Harbor Statement

 

This press 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 with the Securities and Exchange Commission on March 28, 2023, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. 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:

KULR Technology Group, Inc.

Phone: 858-866-8478 x 847

Email: ir@kulrtechnology.com

 

Source:  KULR Technology Group, Inc.

KULR Approaches Final Milestone in Upsized U.S. Army Contract for Advanced Battery Prototypes

San Diego, CA – March 21, 2024 – KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in sustainable energy management, today proudly announces the receipt of an additional purchase order from the United States Army, increasing the total contract value to $1.81 million. This latest order propels the project into its final phase, scheduled for completion by August 2024, with KULR having already achieved significant milestones in the development of next-generation battery solutions for advanced aviation applications.

 

In the concluding phase, KULR will deliver two distinct prototypes of its innovative battery systems, each tailored to meet the rigorous operational demands of the U.S. Army. This strategic development represents a culmination of the Company’s tireless efforts in navigating the initial two phases of the agreement with exceptional success.

 

The final prototypes will leverage KULR’s advanced energy management platform, KULR ONE Design Solutions, which integrates state-of-the-art safety measures and thermal management technologies. The KULR engineering team’s use of comprehensive design and testing methodologies, including Fractional Thermal Runaway Calorimetry, bomb calorimetry, and impingement zone mapping, has been instrumental in guiding the design process.

 

KULR CEO Michael Mo expressed, “As we progress to the final stages of our collaboration with the U.S. Army, our commitment to excellence and innovation remains unwavering. The trust placed in KULR to develop these advanced prototypes reflects our shared dedication to enhancing the operational capabilities of our armed forces. The forthcoming evaluation of our prototypes will set the stage for future phases, furthering our contribution to the military’s mission readiness with superior energy solutions.”

 

As the sole provider of cell screening technology for NASA, KULR continues to cultivate a solid foundation of trust while exhibiting sound technical expertise throughout its ongoing partnership with the U.S. Army. The Company continues to establish its role as a key player in advancing the safety and efficiency of energy storage and management solutions.

 

For further information about KULR Technology Group and its innovative solutions, please visit http://www.kulrtechnology.com.

 

About KULR Technology Group Inc.

KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit www.kulrtechnology.com.

 

Safe Harbor Statement

This press 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 with the Securities and Exchange Commission on March 28, 2023, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. 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:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com

 

SOURCE: KULR Technology Group, Inc.

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

 

CellCheck Intelligence Allows Customers to Monitor Lifetime Health of Batteries in Real-Time

 

San Diego, CA – December 13, 2022KULR Technology Group, Inc. (NYSE American: KULR) (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.

 

About KULR Technology Group Inc.

 

KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. 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 with the Securities and Exchange Commission on March 28, 2022. 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:
Tom Colton or John Yi
Gateway Group
Main: (949) 574-3860
KULR@gatewayir.com

 

Public Relations:
Robert Collins / Zach Kadletz / Anna Rutter
Gateway Group
Main: (949) 574-3860
KULR@gatewayir.com

 
Brokers and Analysts:
Chesapeake Group
Main: (410) 825-3930
info@chesapeakegp.com

 

SOURCE:  KULR Technology Group, Inc.

KULR TECHNOLOGY GROUP EXPANDS KULR VIBE WITH SCALABLE CENTRALIZED ARTIFICIAL INTELLIGENCE SERVER PLATFORM

Powered by NVIDIA Accelerators, KULR VIBE’s Expanded Technology Offers Customers Enhanced Scalability and Data Security Along with NASA-Proven Battery Safety Solutions and Energy Efficiency  

 

KULR VIBE Provides Superior Vibration Elimination for Entire Spectrum of Aviation Platforms, Industrial Motors, and Wind Energy Farms for Significant Efficiency, Longevity and Energy Output Improvements

 

San Diego, CA –  December 07, 2022 –  KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading energy management platform company accelerating the global transition to a sustainable electrification economy, today announced that it will be expanding its vibration reduction solution KULR VIBE offering with the launch of a scalable, centralized artificial intelligence (“AI”) server platform. Powered by NVIDIA (NASDAQ: NVDA) accelerators, the updated KULR VIBE system will deliver faster processing speeds and data capture for remote access. Of particular interest and request from KULR’s enterprise customers, the cornerstone of this expansion will bring enhanced security to protect customer data, mission-critical projects and intellectual against potential cyber security risks.

 

The KULR VIBE suite of products and services has provided vibration analysis and mitigation to commercial and military helicopter application for over two decades. Advances in measurement and computing have allowed the KULR VIBE technologies to offer transformative, scalable solutions across aviation, transportation, renewable energy (wind), manufacturing, industrial, performance racing and autonomous aerial (drone) applications. The new KULR VIBE AI platform allows for advanced, trajectory-altering maintenance capable of optimizing craft performance and systems to prioritize safety, allow for lower maintenance costs and increase the lifespan of sensitive and expensive equipment in the field resulting in longer commercial use.

 

“Providing enhanced security and faster remote diagnoses for managing the vibration and balancing needs of high-performance machines and systems are essential for today’s commercial and enterprise businesses that are looking to be more competitive in the market by ensuring their systems are operating as safely as possible,” said Michael Mo, CEO of KULR. “We look forward to scaling up with our customers to bring the enhanced KULR VIBE platform further into the design, production and ongoing maintenance of their critical systems.”

 

As a leader in the global electrification movement, the KULR VIBE AI platform also allows the Company to bring optimized battery safety and improved kinetic energy efficiency to customers across industries, including electric vehicles, aircraft, e-mobility, power tools and other motorized systems. Powered by AMD (NASDAQ: AMD) CPUs and NVIDIA accelerators running in KULR’s on-premises data center, this technology expansion gives customers access to industry-standard toolsets while simultaneously engaging with KULR’s proprietary intelligent algorithms.

 

The Company will demonstrate the KULR VIBE technology with remote AI system support at the upcoming 2023 International Consumer Electronics Show.

 

About KULR Technology Group Inc.

 

KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit https://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 with the Securities and Exchange Commission on March 28, 2022. 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:
Tom Colton or John Yi
Gateway Group
Main: (949) 574-3860
KULR@gatewayir.com

 

Public Relations:
Robert Collins / Zach Kadletz / Anna Rutter
Gateway Group
Main: (949) 574-3860
KULR@gatewayir.com

Brokers and Analysts:
Chesapeake Group
Main: (410) 825-3930
info@chesapeakegp.com

 

SOURCE:  KULR Technology Group, Inc.

KULR Receives Initial Passive Propagation Resistant Battery Safety Order  from Lockheed Martin

SAN DIEGO, CA – November 30, 2021 – KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced the Company has received an initial order totaling approximately $500,000 for its passive propagation resistant (“PPR”) battery systems from the Lockheed Martin Corporation (NYSE: LMT) (“LMT”). This initial order is for immediate delivery and is the starting point in the partnership as LMT leverages KULR’s technological advancements in PPR energy products for its Advanced Energy Systems.

 

KULR’s PPR energy products include the Thermal Runaway Shield (“TRS”), the Internal Short Circuit (“ISC”), its full suite of proprietary battery design and testing methodologies, as well as the battery cell screening and monitoring system KULR developed for its aerospace and U.S. Department of Defense (“DoD”) customers.

 

“KULR’s heritage is hardware thermal energy management components incorporating our patented carbon fiber architecture,” stated KULR CEO Michael Mo. “We are very pleased and honored to have Lockheed Martin Corporation as a partner advancing our integrated battery design, testing and management platform. As the industry leader serving DoD and aerospace customers, Lockheed Martin brings tremendous expertise and resources to help us perfect our solutions to serve the most mission critical applications in the world.”

 

About KULR Technology Group Inc.

 

KULR Technology Group Inc. (NYSE American: 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 with the Securities and Exchange Commission on March 19, 2021. 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:

Tom Colton or Matt Glover

Gateway Investor Relations

Main: (949) 574-3860

KULR@gatewayir.com

 

SOURCE:  KULR Technology Group Inc.

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/

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