KULR Secures Second Order from Fortune 20 E-Commerce and Cloud Computing Customer for Commercial Drone Delivery
August 18 2022 - 8:30AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a leading developer of next-generation
lithium-ion (“Li-ion”) battery safety and thermal management
technologies, has received two orders from a leading Fortune 20
e-commerce and cloud computing company for its next generation
Li-ion battery powered commercial drone delivery fleet.
The first order was for the proof of concept of KULR’s design;
the second follow-on order is for prototype, field testing and
certification trials. Pre-production is scheduled for 2023
with full ramp-up set to start in the second half of 2024. These
drones will feature improved safety and longer flight time. In
March of this year McKinsey & Company asserted, “As of early
2022, we estimate that more than 2,000 drone deliveries are
occurring each day worldwide. The growth rate is accelerating every
week, and we project that there will be close to 1.5 million
deliveries in 2022 as a whole, up from just under half a million in
2021.”
KULR’s VP of Sales and Marketing Greg Provenzano added, “This
project dovetails nicely with our focus on specific high-growth
markets where our differentiated products provide a design and
production solution for safety and performance. Drone delivery is
still in its early innings and e-commerce companies will only
continue to implement this form of delivery logistics into their
platforms as the commercial drone ecosystem continues to build
out.”
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.
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Investor Relations:Tom Colton or Matt
Glover Gateway Investor RelationsMain: (949)
574-3860 KULR@gatewayir.com
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