KULR Wins Additional Order from U.S. Military
May 22 2023 - 8:30AM
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 it has received a
development contract from a branch within the United States Armed
Forces to develop high-energy battery packs for uninterruptible
power supplies to mobile command centers.
This is the second KULR ONE Design Solutions (“K1DS”) contract
within a month for San Diego based KULR as it grows its
comprehensive solutions platform business, delivering what the
Company believes to be the safest battery solutions for high energy
and demanding applications. Earlier this month, the United States
Army awarded KULR a $1.13 million contract to develop a high-energy
battery storage platform for advanced aviation applications.
“Although there is still more than a month left in our current
fiscal quarter, we believe that we are seeing impressive demand for
KULR ONE battery packs leading to sizable growth in revenue from Q1
2023," commented KULR CEO Michael Mo. "We continue to showcase the
advantages of our products and this order again demonstrates the
increasing adoption of our products and design solutions in the
battery and energy storage marketplace. These orders continue to
enhance our growth and position in the marketplace and confirm the
sustainability of our growth trajectory.”
About KULR Technology Group Inc.KULR Technology
Group Inc. (NYSE American: KULR) is a leading energy management
platform company 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 Statement This press 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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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:Mark
KomonoskiPartnerIntegrous CommunicationsPhone: 1-877-255-8483Email:
kulr@integcom.us
Brokers and Analysts:Chesapeake
Group410-825-3930info@chesapeakegp.com
Media Relations:Further PREmail:
press@furtherpr.com
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