CAMPBELL, CA -- October 16,
2018 -- InvestorsHub NewsWire -- KULR
Technology Group, Inc. (OTCQB: KUTG), (the “Company” or
“KULR”), today announced that NASA has placed an initial order for
the Internal Short Circuit (ISC) trigger battery cells, which can
replicate lithium-ion battery cell failures in battery pack
designs. The ISC is licensed, manufactured and distributed by KULR
under an exclusive agreement with the DOE’s National Renewable
Energy Laboratory (NREL).
“We are pleased to continue our long and productive relationship
with NASA and help them continue their pioneering work on battery
safety,” said Michael Mo, CEO of KULR Technology Group. “As the
exclusive commercialization partner for this ground-breaking
technology, we will be providing NASA with initial test cells this
quarter and ramp up commercial production in the first quarter of
2019,” Mo said.
“We have seen growing
interest in ISC trigger cells from different industries and
geographic regions. We have been working with tier-one battery cell
manufacturers to make the trigger cells in both 18650 and 21700
form factors. We expect 2019 to be a breakout year for this ISC
technology and establish it as the go-to standard for battery
design safety testing for various industries and applications. Our
ISC testing technology makes batteries safer and global battery
manufacturers are realizing it,” Mo said.
Lithium-ion batteries are
the industry and consumer standard for portable power; billions of
individual battery cells exist and billions
more are planned for production. But lithium-ion batteries
fail, sometimes with catastrophic results. Due to the relative
rarity of cell failures, scientists and researchers struggle to
reliably or accurately replicate latent defect cell failures in lab
settings, impeding research into safer battery
technology.
The cornerstone of the
E-mobility ecosystem is battery safety. Whether you're addressing
electric vehicles, charging stations, power generation, power
distribution and storage, or aerospace and defense, advancing
battery safety is essential for wider market adoption. The ISC
technology received the prestigious R&D100
Award in 2016, was runner-up NASA invention of the year in
2017 and is now part of NASA’s “Crewed Space Vehicle Battery Safety
Requirements.”
KULR’s core technology is a
NASA-developed, space-used, vertically-aligned carbon fiber
material that is lighter, more flexible, and more efficient than
traditional thermal management products. As pure carbon, KULR fiber
is perfectly heat efficient. And because it behaves like a flexible
fabric it can fit with just about any power or electronic
configuration in extremely demanding spaces with minimal contact
pressure, increasing efficiency and safety for a variety of thermal
management and energy storage uses across a range of
markets.
About KULR
Technology Group, Inc.
Founded by some of the
foremost experts in aerospace thermal management, KULR’s mission is
to utilize space technologies to make e-mobility cooler and safer.
KULR is joined by industry veterans in semiconductor and industrial
manufacturing. The Company’s investors and advisors include
industry leaders from US, Japan, and China in the field of
electrical vehicles, energy storage, communications, and
semiconductors. KULR’s proprietary carbon fiber-based solutions are
lighter, higher performance and more compliant than traditional
solutions. Some applications of the company’s carbon fiber material
include space exploration, electric vehicles, cameras and laser
displays, robotics, servers and data systems, power storage and
consumer electronics.
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 parent entity’s Form 10-K filed on April 17, 2018.
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. We assume no
obligation to update the information included in this press
release, whether as a result of new information, future events or
otherwise.
Contacts
KULR Technology
Group, Inc.
INVESTOR RELATIONS AND MEDIA CONTACT:
Derek Newton, 786-499-8998
Head of Investor and Media Relations
derek.newton@kulrtechnology.com