KULR Selected by a Top-Selling Global Automaker for Next Generation EV Battery Safety and Testing Solutions
August 16 2023 - 8:00AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced it has received a contract from one of
the world’s top-selling automakers (“Automaker”) for testing and
analysis of high-energy battery cells for its next generation
electric vehicles. The Company will implement its KULR ONE Design
Solutions (“K1-DS”) platform to accelerate design readiness for the
Automaker's advanced EV roadmap.
KULR’s rigorous testing protocols incorporate its extensive
spaceflight expertise and proprietary KULR ONE Design Solutions to
deliver what KULR believes to be the world’s most rigorous testing
platform for battery safety. These tests include Fractional Thermal
Runaway Calorimetry, bomb calorimetry, and impingement zone
mapping. By providing a uniquely thorough cell-level
characterization of the customer’s cells, KULR is able to provide
its customers what it believes to be globally unique insight into
how to optimize battery safety.
Recently, EV automakers have been looking to high-performance,
silicon-anode batteries and other technologies to improve the
driving range and cut costs of future electric vehicles. Batteries
utilizing silicon as an alternative to graphite - anodes commonly
employed in present-day batteries - have demonstrated the
capability to achieve substantially greater energy density and
accelerated charging rates making KULR’s industry standard setting
rigorous testing and safety solutions even more essential and
mission critical.
"Understanding high power and high-energy cell safety, whether
it's lithium-ion, solid state, or silicon-anode, is absolutely
essential if automakers want to develop a best in breed battery
cell," commented KULR CEO Michael Mo. "KULR utilizes a superior
testing protocol for analyzing battery characteristics regardless
of cell chemistry. K1-DS accounts for all testing variability --
including the continuous swelling and shrinking during charging and
discharging in silicon anodes. Ultimately, through our
in-development AI applications learning from this testing data, we
believe that KULR is strategically positioned to continue
delivering best-in-class solutions for end-to-end battery safety
across all applications and all cell chemistries."
According to a projection by the International Energy Agency in
April 2023, electric vehicles, encompassing both fully electric and
plug-in hybrid models, are anticipated to account for 35 percent of
new vehicle sales worldwide by 2030.
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
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, 2023. Forward-looking statements include
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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:KULR Technology Group,
Inc.Phone: 858-866-8478 x 847Email: ir@kulrtechnology.com
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