KULR Secures First Customer for KULR VIBE Underscoring Solution's Commercial Application in the Aviation Sector
December 21 2022 - 08:58AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a leading energy management platform
company accelerating the global transition to a sustainable
electrification economy, today announced that it has entered into a
six-figure annual subscription agreement with an industry leading,
American-based commercial helicopter operator (the “Client”) to
provide global track and balance support for its fleet of
helicopters via KULR VIBE, which provides a proprietary AI-driven
vibration reduction solution. By incorporating KULR VIBE into their
maintenance program, the Client can safely service and maintain
operations of its diverse helicopter fleet which service customers
in the oil and gas and air-medical sectors.
The Client is one of the world's largest civilian helicopter
operators with over 250 diverse aircraft spanning 5 continents.
Through KULR VIBE, the Company addresses one of the most
challenging issues with advanced machinery today, excessive
vibrations. Vibrations cause increased maintenance, accelerated
component replacements, and downtime. Excessive energy-robbing
vibrations are destructive to both the helicopter and in many cases
the operator. By integrating KULR VIBE into its existing hardware
and software processes, the Client can pinpoint areas where excess
vibrations across its fleet of 250+ helicopters may cause system
malfunctions, weakened performance, maintenance issues, and loss of
available aircraft to perform its mission. With KULR VIBE and the
24/7/365 maintenance support it provides, the Client can keep its
fleet of helicopters, that would otherwise be grounded or pose a
substantial risk to crew members airborne. KULR’s Mechanical Fault
Diagnostic ("MFD") software compliments the learning algorithms and
AI functions of KULR VIBE to provide a comprehensive solution for
the end customer.
“KULR has a long history of developing products that offer its
customers proven solutions built to safely withstand the most
severe conditions, from space to extreme heat, while also
mitigating the potentially devastating effects of excessive
vibration on machinery,” said KULR’s President & COO, Keith
Cochran. “Through our KULR VIBE solution we enable this Client to
provide high-quality support to their customers and ensure they can
safely carry out some of the most challenging assignments in
aviation.”
This recent contract comes on the heels of KULR VIBE's platform
identifying and remedying vibration problems on two Bell AH-1Z
Viper attack helicopters and one Bell Boeing Osprey V-22 tiltrotor
aircraft at Marine Corps Base Camp Pendleton in southern
California. The almost $40 million AH-1Z Viper Attack Helicopter
was previously diagnosed as inoperable before KULR's team quickly
identified, resolved, and facilitated a return of the aircraft to
mission capable status.
KULR is currently working with a helicopter retrofit company to
embed its systems in older aircraft while focusing on a key market
of original equipment manufacturers who may wish to install KULR
VIBE as factory equipment. The Company’s immediate focus is
two-fold: grow the commercial helicopter business and integrate
with the United States Department of Defense to help enable their
fleet for flight readiness 24/7/365. In addition to helicopters,
the Company sees applications for KULR VIBE in eVTOL aircraft,
unmanned aircraft systems, high-performance automobiles, renewable
wind energy turbines and industrial motors.
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.
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
https://www.kulrtechnology.com/.
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Investor Relations: Tom Colton or John Yi
Gateway GroupMain: (949) 574-3860 KULR@gatewayir.comPublic
Relations:Robert Collins / Zach Kadletz / Anna Rutter
Gateway GroupMain: (949) 574-3860 KULR@gatewayir.com
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