KULR Secures Third NASA Order for Automated Battery Cell Testing Services
August 31 2023 - 8:00AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the “Company” or “KULR”), a global leader in sustainable energy
management, is pleased to announce today the latest purchase order
from the National Aeronautics and Space Administration (“NASA”), an
independent agency of the U.S. federal government, as part of a
multi-phase agreement for its advanced automated battery cell
screening system. This recent procurement involves the assessment
of 10,000 LG Chem Lithium-Ion INR18650 M36T cells.
According to Straits Research, the global battery cell testing
market was valued at USD 5 billion in 2021 and is anticipated to
reach USD 7 billion by 2030. The market is projected to grow at a
CAGR of 4% during the forecast period (2022–2030).
In collaboration with NASA, KULR specializes in the evaluation
of battery cells vital for manned space missions. Due to increasing
demand, the company plans to expand its technology to support 21700
cells, with functionality expected by the end of the current year.
This enhancement will amplify the safety, dependability, and
efficacy of cells for a broader array of mission-critical
applications.
KULR's modular screening technology allows for easy scalability
to meet evolving market needs. This project signifies another key
development in the strategic partnership between KULR and NASA,
reinforcing KULR's role as a crucial player in aerospace energy
management and battery safety.
As the push for electrification and sustainable energy
intensifies, the KULR team believes that it is optimally positioned
to capitalize on emerging opportunities. This endeavor has also
paved the way for further collaborative efforts within the sector,
focused on advancing battery design and safety measures.
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.
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Investor Relations:KULR Technology Group,
Inc.Phone: 858-866-8478 x 847Email: ir@kulrtechnology.com
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