NASA Places Initial Order for KULR’s Battery Testing Devices
CAMPBELL, Calif.--(BUSINESS WIRE)--Oct 16, 2018--KULR Technology Group, Inc. (OTCQB: KUTG), (the “Company” or “KULR”), today announced that NASA has placed an initial order for the Internal Short Circuit (ISC) trigger battery cells, which can replicate lithium-ion battery cell failures in battery pack designs. The ISC is licensed, manufactured and distributed by KULR under an exclusive agreement with the DOE’s National Renewable Energy Laboratory (NREL).
“We are pleased to continue our long and productive relationship with NASA and help them continue their pioneering work on battery safety,” said Michael Mo, CEO of KULR Technology Group. “As the exclusive commercialization partner for this ground-breaking technology, we will be providing NASA with initial test cells this quarter and ramp up commercial production in the first quarter of 2019,” Mo said.
“We have seen growing interest in ISC trigger cells from different industries and geographic regions. We have been working with tier-one battery cell manufacturers to make the trigger cells in both 18650 and 21700 form factors. We expect 2019 to be a breakout year for this ISC technology and establish it as the go-to standard for battery design safety testing for various industries and applications. Our ISC testing technology makes batteries safer and global battery manufacturers are realizing it,” Mo said.
Lithium-ion batteries are the industry and consumer standard for portable power; billions of individual battery cells exist and billions more are planned for production. But lithium-ion batteries fail, sometimes with catastrophic results. Due to the relative rarity of cell failures, scientists and researchers struggle to reliably or accurately replicate latent defect cell failures in lab settings, impeding research into safer battery technology.
The cornerstone of the E-mobility ecosystem is battery safety. Whether you’re addressing electric vehicles, charging stations, power generation, power distribution and storage, or aerospace and defense, advancing battery safety is essential for wider market adoption. The ISC technology received the prestigious R&D100 Award in 2016, was runner-up NASA invention of the year in 2017 and is now part of NASA’s “Crewed Space Vehicle Battery Safety Requirements.”
KULR’s core technology is a NASA-developed, space-used, vertically-aligned carbon fiber material that is lighter, more flexible, and more efficient than traditional thermal management products. As pure carbon, KULR fiber is perfectly heat efficient. And because it behaves like a flexible fabric it can fit with just about any power or electronic configuration in extremely demanding spaces with minimal contact pressure, increasing efficiency and safety for a variety of thermal management and energy storage uses across a range of markets.
About KULR Technology Group, Inc.
Founded by some of the foremost experts in aerospace thermal management, KULR’s mission is to utilize space technologies to make e-mobility cooler and safer. KULR is joined by industry veterans in semiconductor and industrial manufacturing. The Company’s investors and advisors include industry leaders from US, Japan, and China in the field of electrical vehicles, energy storage, communications, and semiconductors. KULR’s proprietary carbon fiber-based solutions are lighter, higher performance and more compliant than traditional solutions. Some applications of the company’s carbon fiber material include space exploration, electric vehicles, cameras and laser displays, robotics, servers and data systems, power storage and consumer electronics. https://www.kulrtechnology.com
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This 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 parent entity’s Form 10-K filed on April 17, 2018. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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CONTACT: KULR Technology Group, Inc.
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SOURCE: KULR Technology Group, Inc.
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PUB: 10/16/2018 12:23 PM/DISC: 10/16/2018 12:23 PM