KULR Technology Group Provides Biosensing Solution for the Metaverse
May 03 2022 - 6:45AM
KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or
"KULR"), today announced it has shipped prototypes of a core
component in the sensing of electrical nerve signals to control
navigation through virtual environments to a major original
equipment manufacturer (“OEM”) of hardware and software to the
Metaverse. This multinational technology conglomerate has selected
KULR’s proprietary carbon fiber solution due to its superior
thermal and electrical qualities, as well as its comfort on the
skin.
A March 2022 report by Citi has high expectations for the
Metaverse. According to the report, users should increasingly be
able to access a host of use cases, including commerce, art, media,
advertising, healthcare, and social collaboration. A device
agnostic Metaverse would be accessible via personal computers, game
consoles, and smartphones, resulting in a large ecosystem. Using
this broad definition, Citi forecasts the total addressable market
for the Metaverse to be between $8 trillion and $13 trillion by
2030, with total Metaverse users numbering around five billion.
“We are excited to apply our carbon fiber substrate in new
emerging applications such as biosensing for the Metaverse,” said
KULR’s CEO, Michael Mo. “We have prior experience in this area
working with Yale University researchers using similar carbon fiber
materials to detect electric pulse signals from the brain. We
believe there are more opportunities to apply our design and
processing capabilities, beyond thermal management and battery
safety, around vertically oriented carbon fiber as a foundational
platform to build exciting new applications.”
Michael Mo recently sat down with Proactive to talk more about
the company's new solution.
KULR’s core thermal energy management solution is based on its
proprietary carbon fiber velvet, in which the fiber packing density
and orientation serve a wide range of applications, including
challenging thermal and chemical environments, sliding interfaces,
and interfaces with wide varying gaps. Based on this core
architecture, KULR has developed battery safety technologies to
mitigate lithium-ion battery thermal runaway propagation. KULR is
also exploring new battery configurations where its carbon fiber
velvet can increase energy density, provide faster charging
capabilities, and enhance solid state battery performances.
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
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associated with our business, which include the risk factors
disclosed in our Form 10-K filed with the Securities and Exchange
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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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