KULR Technology Announces Acquisition of VibeTech and Launch of Revolutionary Vibration Reduction Service, KULR VIBE
October 06 2022 - 8:30AM
KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or
“KULR”), a leading energy management platform accelerating the
electrification of the circular economy, today announced its
acquisition of VibeTech and the formal launch of KULR VIBE
(“VIBE”), an AI driven vibration reduction solution.
KULR VIBE addresses one the most challenging issues with
advanced machinery today; excessive energy robbing vibrations that
are destructive to both the machinery and in many cases the
operator. The KULR VIBE suite of technologies utilize proprietary
sensor processes with advanced learning algorithms to both achieve
precision balancing solutions, and successfully predict component
failure based on its comprehensive database of vibration
signatures. Its enhanced AI learning algorithms pinpoint areas
where excess vibrations cause a loss of energy that can lead to
system malfunctions, weakened performance, and maintenance
issues.
The KULR VIBE suite of products and services have provided
vibration analysis and mitigation to global companies across
multiple industries and sectors. Advances in measurement and
computing have allowed the KULR VIBE technologies to provide
transformative, scalable solutions across aviation, transportation,
renewable energy (wind), manufacturing, industrial, performance
racing and autonomous aerial (drone) applications.
The innovative technology can be utilized as a standalone
solution or be paired with existing track and balance technology to
facilitate vibration reduction, achieve increased energy
production, and reduce mechanical failures thereby extending
platform life.
KULR is reimagining the very approach to an industry that has
seen little technological advancement in nearly four decades to
help companies unlock their full energy potential. This patented
technology was invented by Norm Serrano, who joins the company as
Senior Director, Vibe Control Technologies. Serrano, a pioneer in
the track and balancing industry, has been a sought-after vibration
reduction expert and helped develop the first automated system for
tracking and balancing for the U.S. Airforce in the 1980’s. For
over 40 years, Serrano and his team have provided solutions for the
U.S. Department of Defense, leading Indy racing teams, and now
clean energy companies to help cement their technology as the gold
standard.
According to Fact.MR, an insights-driven global market
intelligence company, the global vibration motor market is
estimated at USD 6.5 Billion in 2022 and is forecast to reach USD
24.1 Billion by 2032, growing at a CAGR of 14.1% during
2022-2032.
“Vibrations are negative energy for machinery which at a minimum
reduces the output potential and in excess can be catastrophic…...,
KULR VIBE removes this concern,” said Keith Cochran, President and
COO of KULR Technology Group. “Precise vibrational control is
critical for high performance machines and systems to operate
safely and achieve mission success which has been a core focus of
KULR since our inception. With the acquisition of VibeTech, having
Norm Serrano and his team join the company and now the launch of
KULR VIBE, we’ve taken a major step expanding into a vertically
integrated energy management company, accelerating the transition
to circular electrification economy.”
“We are thrilled to join the visionary team of KULR and bring
our decades of vibration reduction experience and solutions further
into the marketplace,” said Norm Serrano, Senior Director, Vibe
Control Technologies. “We've worked with everything from
million-dollar advanced military helicopters for the Department of
Defense to most of the world’s fastest high-performance racing
cars, where precision and balance means the difference between
winning and losing, along with life or death. Anything that has a
motor or rotor needs to be continually rebalanced to remain
efficient. KULR VIBE can make a great difference in the world,
particularly now with the electrification movement where energy and
balance optimization through better vibration control can make all
the difference in commercial success and help deliver on the
promise of new renewable energy solutions.”
Technical solutions are available through consulting,
stand-alone as well as online (software as a service)
offerings.
About KULR Technology Group Inc. KULR
Technology Group Inc. (NYSE American: KULR) is a leading energy
management platform offering proven solutions that play a critical
role in accelerating the electrification of the circular economy.
Leveraging a foundation in developing, manufacturing, and licensing
next-generation carbon fiber thermal management technologies for
batteries and electronic systems, KULR has evolved its holistic
suite of products and services to enable its customers across
disciplines to operate with efficiency and sustainability in mind.
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 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 GroupMain:
(949) 574-3860 KULR@gatewayir.com
Public Relations:Robert Collins / Zach Kadletz / Anna Rutter
Gateway GroupMain: (949) 574-3860 KULR@gatewayir.com
Brokers and Analysts:Chesapeake Group Main: (410) 825-3930
info@chesapeakegp.com
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