KULR Receives Follow-On Phase Change Material Heat Sink Order from Lockheed Martin
June 29 2022 - 06:45AM
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,
announced today it received a follow-on order for its
space-developed phase change material (“PCM”) heat sink technology
from leading aerospace and defense company Lockheed Martin
Corporation (NYSE: LMT).
Phase change material heat sink technology reduces system
temperature excursions and extends both the life of key components
within the thermal storage process. The solution is most useful for
compact and high-performance devices that require bursts of
computational power in short time intervals. KULR’s PCM heat sink
technology is compact, reliable, and lightweight and has been
utilized by leaders in the U.S. aerospace and defense
industries.
“Repeat business like this is a testament to our reliable
engineering, testing, and design capabilities that meet the
stringent requirements of long-range weapon systems,” said Keith
Cochran, President & COO of KULR Technology Group, Inc. “Our
many years of experience designing lightweight and durable heat
sink technologies positions us well to capture additional share of
the thermal design market for military precision strike weapons.
Lockheed is a valuable customer to us, and we look forward to the
continued partnership in providing them the best thermal management
technologies for crucial aerospace, defense and other systems.”
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
StatementThis 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 Matt Glover Gateway Investor
RelationsMain: (949) 574-3860 KULR@gatewayir.com
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