KULR Technology Secures Initial Deployment Order From Top Tier United States Department of Defense Contractor
October 04 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, today announced it has received an
initial deployment order totaling over $500,000 from a leading
Department of Defense (DoD) contractor, with future considerations
up to the multi-million-dollar amount over the next year. KULR’s
technology will be utilized by the American manufacturer of
spacecraft components and instruments for national defense, civil
space and commercial space applications to support its Air-to-Air
Missile shipping program. This initial deployment order is for
immediate delivery with the potential for a multi-million-dollar
deployment order to run through 2023.
“We are proud to continue our support with partners in the
defense industry, providing some of the most innovative and
high-performance thermal management solutions to advance key new
deployments,” said Michael Mo, Co-Founder and CEO of KULR
Technology Group. “Aerospace and defense have long been and
continue to be a cornerstone market for KULR. As we deepen our
relationships in this important space, we look forward to providing
transformative technology and expanded product offerings to a
growing client base.”
Today’s announcement builds upon KULR’s established history of
successful partnerships with prime DoD contractors and underscores
the Company’s continued commitment, presence and growth within the
aerospace and defense marketplace.
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
Statement This 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 John Yi Gateway Group Main: (949)
574-3860 KULR@gatewayir.com
Media Relations: Robert Collins / Zach
Kadletz / Anna Rutter Gateway Group Main: (949)
574-3860 KULR@gatewayir.com
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