Breaking Renewable Energy
Stock News: KULR's (NYSE: $KULR) Xero Vibe Technology Lands Licensing
Partnership with $2.35M Deal; @KULRTech
Milestone IP
Licensing Deal Expands Business Opportunities via New Business Model
Houston,
TX - October 2, 2024 (Investorideas.com Newswire) KULR
Technology Group, Inc. (NYSE
American: KULR) (the
"Company" or "KULR"), a global leader in sustainable energy
management, today announced a licensing agreement for its proprietary vibration
reduction technology named KULR Xero Vibe ("KXV"). The $2.35M
landmark deal includes a $1.1M minimum guaranteed license and royalty fee, a
unique opportunity for the licensee to purchase proprietary balancing equipment
directly from KULR and additional revenue upside to KULR based on volume and
technology upgrades. The licensee, a leading Japanese corporation, specializing
in systems integration and the distribution of advanced semiconductor
solutions, intends to use the KXV technology to balance industrial-scale fan
systems used in data center computer cooling, HVAC and other industrial applications.
KULR is exploring additional license opportunities based on geographic regions
in tangential power-consuming applications, where KULR expects substantial
upside revenue potential as product sales and royalty income scales along with
its customers' growth.
KULR's KXV technology offers a
transformative solution for balancing high-performance commercial fans running
at speeds exceeding 33,000 RPM. These fans are critical for, among other
things, cooling a growing number of AI-driven data center computer servers. The
KXV system reduces vibration to virtually zero, optimizing cooling system
performance and reducing energy consumption.
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/2024/10021KULR-Xero-Vibe-Technology.asp
Michael Mo, KULR CEO, said, "Did
you know a ChatGPT query uses almost 10 times as much electricity as a Google
search? According to Goldman Sachs, AI will drive data centers
power consumption by 160% from 1-2% of overall worldwide power consumption now
to 3-4% by the end of the decade. By virtually eliminating vibration, KXV is a
game-changer technology to make data center fan cooling systems more efficient
and environmentally friendly, and help customers lower operational and capex
cost."
Additional Advantages of KULR's KXV
Technology
KXV technology not only improves
cooling system energy efficiency but also offers several additional benefits
for data centers:
- Reduced Noise Enhances Work Environment: Lower vibration means quieter operations, contributing to a
better working environment.
- Increased Stability Improves Performance: Systems operate more smoothly and reliably, enhancing overall
performance
- Less Wear and Tear Reduces Both Capital Spending and Operating
Expenses: Dramatic reduction in vibration
decreases mechanical stress on fans and cooling systems, extending their
lifespan and reducing maintenance costs.
Improving Data Center Cooling
Efficiency
According to the United States
Chamber of Commerce, energy consumption is the single largest operational
expense for data centers, with cooling costs representing approximately 40% of total expenses. By leveraging KULR's
KXV technology to reduce energy use, companies can lower operational costs and
move toward more sustainable practices. Microsoft's partnership with Constellation Energy,
Oracle's shift toward nuclear power, and Vistra Energy's rise as the
top-performing stock on the S&P 500 year-to-date, underscore the importance
of energy efficiency in today's business landscape.
About KULR Technology Group, Inc.
KULR Technology Group Inc. (NYSE
American: KULR) delivers cutting edge energy storage solutions for space,
aerospace, and defense by leveraging a foundation of in-house battery design
expertise, comprehensive cell and battery testing suite, and battery
fabrication and production capabilities. The Company's holistic offering allows
delivery of commercial-off-the-shelf and custom next generation energy storage
systems in rapid timelines for a fraction of the cost compared to traditional
programs. 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
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