KULR Selected by One of the World’s Largest Private Space Exploration Companies for Enhanced Battery Safety Solutions
December 27 2023 - 8:45AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced it has received an initial purchase
order from one of the world’s largest privately held space
exploration companies (“Customer”) for enhanced battery safety
testing solutions, using the Company’s KULR ONE Design Solutions
(“K1-DS”) platform. The proprietary K1-DS platform incorporates the
most comprehensive design and testing methodology for battery
safety that includes: Internal Short Circuit ("ISC") technology,
Fractional Thermal Runaway Calorimetry (“FTRC”), bomb calorimetry,
and impingement zone mapping, performing a comprehensive cell level
characterization of the thermal runaway behavior of the Customer’s
cells.
Though specific terms of the contract remain confidential, the
Customer has publicly forecasted a substantial ramp-up in its
planned space missions as it continues to scale its satellite
deployment throughout 2024. According to Spherical Insights &
Consulting in a report released in May 2023, the global space
exploration market size is expected to grow at a 16.21% CAGR and
reach USD 1,879 Billion by 2032.
K1-DS integrates KULR’s deep knowledge and experience in the
most challenging environments, such as spaceflight with NASA, which
requires what KULR considers the most stringent battery solutions
platform globally. The Company is intensely focused on expanding
customer engagements within the space exploration market with its
K1-DS platform solution and expects further design wins to continue
well into next year. Earlier this month, KULR was awarded a
critical contract for the accelerated development, testing, and
production of a leading-edge space battery for a prominent
privately help hardware and in-space services company. That
engagement is anticipated to grow into a multi-million-dollar
partnership for expanded production in 2024.
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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