Breaking Renewable Energy
Stock News: KULR (NYSE: $KULR) Receives up to $1.5M Satellite Battery Systems
Order from South Korea's Nara Space for Artemis II CubeSat Mission; @KULRTech
Houston. TX - September 10, 2024
(Investorideas.com Newswire) KULR Technology Group, Inc. (NYSE American: KULR) (the
"Company" or "KULR"), a global leader in sustainable energy
management, today announced it has been awarded an initial contract valued
close to $1M, with additional options bringing total contract value up to
$1.5M, to supply 20793-rated battery systems to South Korea's Nara Space (NARA) for their CubeSat mission
aboard Artemis II. This project is part of a larger collaboration involving the Korea Astronomy and Space Science Institute (KASI)
and the National Aeronautics and Space Administration (NASA),
where Nara Space is providing the CubeSat to KASI, as part of the Artemis
program.
This
award highlights KULR's growing influence in the aerospace sector and
reinforces its position as a trusted partner in developing cutting-edge energy
solutions for space applications. Recent analysis by Pro Market Reports projects
the Space Battery Market to reach USD 25.14 billion by 2032.
KULR's successful delivery of a 20793-rated battery to NARA in
record time marks a significant milestone in our battery design service
initiatives. This achievement reflects the Company's strategic investment in
offering a comprehensive suite of design services, including cell selection and
screening, thermal modeling, passive propagation-resistant design, and multi-fault
tolerant strategies tailored for space and defense applications. Leveraging the
KULR ONE Space (K1S) architecture, we are able to facilitate an expedited
four-month turnaround for NARA to receive a fully 20793-compliant system.
This news is
paid advertisement/ news disseminated on behalf of/issued on behalf of KULR
Technology Group, Inc.
Read this news, featuring KULR in full at
https://www.investorideas.com/news/2024/09101KULR-Satellite-Battery-Systems-Order-for-Artemis-II-CubeSat-Mission.asp
We are excited to announce the availability of the K1S
architecture to customers seeking to accelerate their path to 20793
certification. This customizable solution allows for faster time to market and
enhanced cost efficiency. By offering a ready-made platform, KULR enables
customers to reduce development time and achieve compliance with greater speed
and effectiveness.
The awarded contract underscores KULR's continued commitment to
developing advanced energy solutions for space and defense applications, which
often require challenging combinations of safety and performance. Leveraging
its existing research and development efforts for space-rated battery systems,
KULR will deliver a scalable battery architecture specifically designed to meet
the rigorous safety and performance standards required for human spaceflight
(20793 compliance). The options included in the contract will be exercised
pending further evaluation with NASA to determine the necessity of additional
testing.
Dr. Will Walker, CTO of KULR Technology Group, stated, "Our
turn-key design approach with KULR ONE Space (K1S) has been the focal point for
our battery design teams for the last 12 months, and our resulting position to
support NARA's timeline, which is driven by NASA, represents a major
advancement in simplifying and reducing the cost of battery integration for
future human-rated space missions. By delivering a fully compliant and scalable
solution, we are helping to pave the way for more efficient and reliable space
exploration."
Ted Krupp, VP of Sales and Marketing at KULR Technology Group,
added, "NARA's decision to partner with KULR was driven by our ability to
rapidly bring products to market and our strong relationships within NASA.
These factors are critical in optimizing the certification process for both
NARA and KASI, an affiliated research institute of the Korea AeroSpace Administration (KASA), ensuring
that their CubeSat is ready for its role in the Artemis II mission. The NARA
20793-rated battery will be delivered in record time for this classification of
energy storage system."
For more information about KULR Technology Group and its
innovative solutions, please visit http://www.kulrtechnology.com.
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 April 12, 2024, as may be amended or
supplemented by other reports we file with the Securities and Exchange
Commission from time to time. 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. 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 because of new
information, future events or otherwise.
Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com
KULR
Technology Group, Inc. (NYSE: KULR) is a featured renewable energy stock on Investorideas.com
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