CAMPBELL, CA
-- November 01, 2018 -- InvestorsHub
NewsWire -- KULR Technology Group,
Inc. (OTCQB: KUTG), (the
“Company” or “KULR”), today announced that it will provide
specific-use thermal management material to Leidos (NYSE: LDOS) for ongoing testing,
research and development on defense-related
projects.
Details of the agreement,
the specific materials, and proposed projects are under security
restrictions and will not be released but company leaders
highlighted the importance of the relationship to continued
programs within Leidos and with other partners.
“Whether in space,
aerospace, defense or in consumer electronics, managing the heat of
high-performance, high-demand components is always mission critical
– too much heat, or not enough of it, in the wrong place at the
wrong time can impair system performance or in the worst case be
catastrophic,” said Dr. Timothy Knowles, co-founder and Chief
Technology Officer at KULR. “We are proud to continue our work on
safe and efficient thermal solutions with industry and research
leaders such as Leidos.”
“The design and development
of next-generation products and systems requires next-generation
energy management or thermal management solutions,” said Vice
President Billy Schaefer, Leidos Business Manager for Directed
Energy. “Partnering with KULR will help us create these innovative
products from conception to implementation for the customer.”
Though it’s not the company’s only thermal product, KULR’s core
technology is a 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. Partners, including NASA and multiple defense agencies
and contractors, have contributed decades of research and
development on KULR’s thermal technology
solutions.
“New areas of defense
technology like directed energy systems, for example, require
upgraded, optimal thermal systems, even just to test them,” said
Michael G. Carpenter, Vice-President of Engineering at KULR
Technology. “That’s why agreements with companies such as Leidos
are so exciting for us.” Directed energy research programs are
similar to those being promoted by the Directed Energy Professional
Society.
About KULR
Technology Group, Inc.
KULR Technology Group, Inc., through its wholly-owned subsidiary
KULR Technology Corporation ("KULR"), develops and commercializes
high-performance, space-used thermal management technologies for
electronics, batteries and other components across an array of
applications such as electrical vehicle, autonomous driving,
AI/Cloud computing, energy storage and 5G communications
technologies known collectively as e-Mobility. KULR's proprietary,
core technology is a carbon fiber material with roots in aerospace
and defense that provides superior thermal conductivity and heat
dissipation in an ultra-lightweight, pliable material. By
leveraging this break-through cooling solution, and its
longstanding development partnerships with NASA, the Jet Propulsion
Lab and others, KULR makes e-Mobility and other products safer and
cooler. https://www.kulrtechnology.com
About
Leidos:
Leidos is a Fortune 500® information technology,
engineering, and science solutions and services leader working to
solve the world’s toughest challenges in the defense, intelligence,
homeland security, civil, and health markets. The company’s 32,000
employees support vital missions for government and commercial
customers. Headquartered in Reston, Virginia, Leidos reported
annual revenues of approximately $10.17 billion for the fiscal year
ended December 29, 2017. For more information, visit www.Leidos.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.
KULR Technology Group, Inc.INVESTOR RELATIONS AND MEDIA CONTACT: Derek NewtonHead of Investor and Media Relations(786) 499-8998