Breaking #Cleantech / #Tech #Stock News:
KULR (NYSE: $KULR) Partners with E-One Moli Energy Corporation to Advance its
Total #BatterySafety and #ThermalManagement Solutions Strategy; @KULRTech
SAN DIEGO - June 30, 2022 (Investorideas.com Newswire) KULR Technology
Group, Inc. (NYSE American: KULR) (the "Company"
or "KULR"), a leading developer of next-generation lithium-ion
("Li-ion") battery safety and thermal management technologies, placed
an initial order for over 75 megawatt hours ("MWh") of Li-ion battery
cell capacity from Taiwan's E-One Moli Energy Corporation ("Molicel")
to design and build battery applications with the highest safety ratings. As
part of the strategic relationship, KULR would purchase over 700MWh of battery
energy capacity to further accelerate its production and supply chain
localization initiatives within North America.
Read this news, featuring KULR in
full at https://www.investorideas.com/news/2022/renewable-energy/06301KULR-E-One-Moli-Energy-Corporation.asp
Molicel, a subsidiary of
publicly traded Taiwan Cement (1101.TW),
has been a leading innovator in the Li-ion battery industry for more than four
decades and is focused on developing the high-power cylindrical cell segment as
a top tier global supplier. The company has proven to be a world-class
manufacturer of high-performance rechargeable Li-ion cells and battery pack
products. Molicel was the first organization in the world to produce high-power
Li-Ion cells for high discharge rate applications, producing the world's first
Li-Ion power tool system, and it supplied the first NASA Spacesuit Li-Ion
battery on the STS-133 mission.
"Partnering with a battery
supplier that has the technical and manufacturing pedigree of Molicel is an
important step for our growth strategy," said KULR CEO Michael Mo.
"This collaboration ensures that KULR has access to world-class Li-ion
battery capacity - an increasingly scarce resource given today's global supply
chain challenges. As a total battery safety platform solution provider, we will
incorporate our core technologies into battery pack design, testing and
production to create the safest batteries for high value applications. This is
an inflection point for KULR as it positions our thermal safety solutions
platform to become better entrenched in the marketplace, ultimately providing
us with an opportunity to optimize logistics and to more effectively capture
full value for our shareholders. As we described earlier this year, we plan to
continue investing in the localization of our production and supply chain to
North America. Securing this Molicel battery cell supply accelerates our ability
to provide total solutions to high value customer applications with revenue
potential that could exceed $350 million."
Through the partnership with Molicel,
KULR will apply a holistic and comprehensive solution to battery safety and
thermal energy management with a suite of technologies including its: Passive Propagation Resistant ("PPR") design and
testing, Internal Short Circuit ("ISC") trigger
cells, Fractional Thermal Runaway Calorimeter ("FTRC")
testing and AI-powered CellCheck battery management system, to target the
following markets:
- Aerospace and defense systems, such as
CubeSat batteries meeting JSC 20793 safety
requirements and the strategic battery reserve program initiated by NASA
- Energy storage systems
- High-performance electric vehicles
and electric vertical take-off and landing ("eVOTL")
- Premium industrial and consumer electronics
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE
American: KULR) develops, manufactures and licenses next-generation carbon
fiber thermal management technologies for batteries and electronic systems.
Leveraging the company's roots in developing breakthrough cooling solutions for
NASA space missions and backed by a strong intellectual property portfolio,
KULR enables leading aerospace, electronics, energy storage, 5G infrastructure,
and electric vehicle manufacturers to make their products cooler, lighter and
safer for the consumer. For more information, please visit www.KULRTechnology.com.
Safe Harbor Statement
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 Form 10-K filed with the Securities and Exchange Commission on
March 28, 2022. 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 as a result of new information, future
events or otherwise.
Investor Relations:
Tom Colton or Matt Glover
Gateway Investor Relations
Main: (949) 574-3860
KULR@gatewayir.com
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced
news, articles and equity research as well as creates original content,
including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions. Disclosure: KULR
Technology Group, Inc. (NASDAQL KULR) is a paid news and social media company
effective May 16 2022 more info https://www.investorideas.com/About/News/Clientspecifics.asp
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn
more about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/
and tickertagstocknews.com
RenewableEnergyStocks.com:
investing ideas in renewable energy stocks
Like
Renewable Energy Stocks? View our Renewable Energy Stocks Directory
Get News Alerts on Renewable Energy Stocks
Get more tech stocks investor ideas- news, articles, podcasts and stock directories
Posts
