SAN DIEGO – June 30, 2022 (Investorideas.com Newswire) KULR Technology Group, Inc. (NYSE American: KULR) (the “Firm” or “KULR”), a number one developer of next-generation lithium-ion (“Li-ion”) battery security and thermal administration applied sciences, positioned an preliminary order for over 75 megawatt hours (“MWh”) of Li-ion battery cell capability from Taiwan’s E-One Moli Energy Corporation (“Molicel”) to design and construct battery functions with the best security rankings. As a part of the strategic relationship, KULR would buy over 700MWh of battery vitality capability to additional speed up its manufacturing and provide chain localization initiatives inside North America.
Molicel, a subsidiary of publicly traded Taiwan Cement (1101.TW), has been a number one innovator within the Li-ion battery business for greater than 4 many years and is concentrated on growing the high-power cylindrical cell phase as a prime tier world provider. The corporate has confirmed to be a world-class producer of high-performance rechargeable Li-ion cells and battery pack merchandise. Molicel was the primary group on the planet to provide high-power Li-Ion cells for top discharge price functions, producing the world’s first Li-Ion energy device system, and it equipped the primary NASA Spacesuit Li-Ion battery on the STS-133 mission.
“Partnering with a battery provider that has the technical and manufacturing pedigree of Molicel is a crucial step for our development technique,” mentioned KULR CEO Michael Mo. “This collaboration ensures that KULR has entry to world-class Li-ion battery capability – an increasingly scarce resource given right this moment’s world provide chain challenges. As a complete battery security platform resolution supplier, we are going to incorporate our core applied sciences into battery pack design, testing and manufacturing to create the most secure batteries for top worth functions. That is an inflection level for KULR because it positions our thermal security options platform to grow to be higher entrenched within the market, in the end offering us with a chance to optimize logistics and to extra successfully seize full worth for our shareholders. As we described earlier this yr, we plan to proceed investing within the localization of our manufacturing and provide chain to North America. Securing this Molicel battery cell provide accelerates our potential to offer complete options to excessive worth buyer functions with income potential that would exceed $350 million.”
By way of the partnership with Molicel, KULR will apply a holistic and complete resolution to battery security and thermal vitality administration with a collection of applied sciences together with its: Passive Propagation Resistant (“PPR”) design and testing, Internal Short Circuit (“ISC”) set off cells, Fractional Thermal Runaway Calorimeter (“FTRC”) testing and AI-powered CellCheck battery administration system, to focus on the next markets:
- Aerospace and protection methods, reminiscent of CubeSat batteries meeting JSC 20793 security necessities and the strategic battery reserve program initiated by NASA
- Vitality storage methods
- High-performance electrical automobiles and electrical vertical take-off and touchdown (“eVOTL”)
- Premium industrial and client electronics
About KULR Expertise Group Inc.
KULR Expertise Group Inc. (NYSE American: KULR) develops, manufactures and licenses next-generation carbon fiber thermal administration applied sciences for batteries and digital methods. Leveraging the corporate’s roots in growing breakthrough cooling options for NASA house missions and backed by a powerful mental property portfolio, KULR permits main aerospace, electronics, vitality storage, 5G infrastructure, and electrical car producers to make their merchandise cooler, lighter and safer for the patron. For extra data, please go to www.KULRTechnology.com.
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Tom Colton or Matt Glover
Gateway Investor Relations
Essential: (949) 574-3860
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