KULR Acquires IP Rights from Centropy AB
December 07 2021 - 6:45AM
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, today announced it has
acquired the patented intellectual property (“IP”) rights from
Centropy AB ("Centropy"). The acquisition brings advanced carbon
fiber based heatsink technology for high power computing (“HPC”)
applications that strengthen KULR’s portfolio of thermal management
solutions for cloud computing, AI, and crypto mining applications.
Centropy's cooling solutions will be integrated into KULR's
existing technology portfolio – targeting air and liquid-cooling of
HPC applications such as crypto mining, cloud computing, and AR/VR
simulations. Combining Centropy's proprietary process of utilizing
carbon fibers in cooling technology for electronic components used
in aerospace, automotive, data centers, and other high-performance
applications with KULR's innovation, productization, and
commercialization capabilities, provides a dependable tailwind for
the Company’s HPC technology development going forward.
High power computing applications, such as industrial bitcoin
mining operations, are comprised of thousands of computers stacked
on shelves in warehouses surrounded by large-scale fans where
electricity can account for about 80% of a miner’s operating cost.
With the joint capabilities of Centropy and KULR’s technology,
crypto miners would now be able to conduct operations more
efficiently and effectively.
"We appreciate the dedication and innovation Centropy put into
this technology," said KULR CEO, Michael Mo. "I believe KULR will
be a great home for the technologies that the Centropy team has
dedicated their hard work towards because we know firsthand it
takes tremendous resources and innovation to invent a solution,
productize it, and a tremendous amount of diligence and
infrastructure to commercialize it. KULR intends to be a staunch
custodian and conduit for Centropy’s cutting-edge technology,
advancing a complete suite of solutions as well as other innovative
thermal management technologies that will result from IP
acquisitions.”
Jesper Eman, CEO of Centropy AB added: "We are very pleased and
proud to work with KULR as we look to leverage our IP and take it
to commercialization. We also realize it takes a lot of expertise
and resources in productization, manufacturing and
commercialization to take our technologies to mass markets. The
partner to help us get there is KULR, which is the leader in carbon
fiber thermal management technologies for the most advanced and
demanding applications. Their products are trusted and used by NASA
and other well-respected commercial and governmental partners. We
look forward to the times ahead, as we strongly believe KULR is the
ideal home for our technologies to realize their full
potential."
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,
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Forward-looking statements in this release are based on information
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Media Relations:Annika HarperThe Antenna
GroupKULR@antennagroup.com
Investor Relations:Tom Colton or Matt Glover
Gateway Investor RelationsMain: (949) 574-3860
KULR@gatewayir.com
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