KULR Announces Lithium-Ion Battery Safety Solutions for Maritime Passenger Industry
January 19 2022 - 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,
announced today the release of a passive propagation resistant
(“PPR”) solution in its KULR-Tech Safe Case product family for
maritime lithium-ion battery safety. The PPR solution is critical
for the upcoming United States Coast Guard's new safety
requirements for the passenger vessel industry, and provides
additional battery safety options for the cargo, fishing, and
cruise verticals. The Company’s solution prevents cell to cell
thermal runaway propagation and prevents heat, fire, and explosion
from exiting the KULR-Tech Safe Case enclosure.
The KULR-Tech Safe Case, based upon successful
space-designed solutions for NASA, has been used on the
International Space Station for safely storing laptop lithium-ion
batteries since 2019. The KULR-Tech Safe Case is one of the
Company’s recent product lines tailored for the commercial
lithium-ion battery markets. By way of its patented, NASA-proven
Thermal Runaway Shield technology, KULR is the only company in the
world with a product approved by the United States Department of
Transportation for storage and transport of lithium-ion batteries
that can manage up to a capacity of 2.1 kWh for recycled, prototype
and DDR (damaged, defective and recall) batteries. The KULR-Tech
Safe Case is also designed to be reusable – creating a greener and
healthier environment for ourselves and for future generations. The
Company looks forward to providing important news about product
development partnerships throughout 2022.
The KULR-Tech Safe Case was developed using KULR’s
Thermal Runaway Shield (“TRS”), its Internal Short Circuit (“ISC”)
device’s destructive testing and instrumentation, and extensive
expertise in thermal management and safety design. KULR’s Thermal
Runaway Shield has been proven by various government testing
authorities to stop or mitigate the impacts of dangerous
lithium-ion battery failures known as thermal runaway.
"We are proud to provide our space-proven thermal
solutions for the maritime passenger industry, with the aligned
goal of helping provide a safer and greener environment for
everyone,” said Michael Mo, CEO of KULR. “The KULR-Tech Safe Case
solution may be the best possible defense against thermal runaway
propagation. We are dedicated to promoting the interests and
well-being of passenger vessel owners and operators, while
promoting safety and a secure maritime operating environment for
passengers, crews and the public at-large.”
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 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 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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