KULR and Worksport Forge Strategic Partnership to Advance Battery Technology and U.S. Manufacturing
KULR Technology Group (NYSE: KULR) and Worksport (Nasdaq: WKSP) have announced a strategic partnership focusing on battery technology advancement and U.S. manufacturing. The collaboration encompasses three main areas: joint development of Worksport's COR Battery Pack System, AI-integrated battery management system software, and thermal runaway protection integration.
The partnership leverages KULR's K1-DS platform for performance evaluation and safety testing. Worksport's first-generation SOLIS and COR products are scheduled for release in H2 2025. Following U.S. production expansion in 2024, Worksport's revenue increased by over 450% from 2023, achieving a monthly run rate exceeding $1 million.
The portable energy system market is expected to reach $21.95-24.8 billion by 2032, with a CAGR of 16-24%. This collaboration aims to transform the $20 billion-plus portable energy market through innovation and scalable manufacturing.
KULR Technology Group (NYSE: KULR) e Worksport (Nasdaq: WKSP) hanno annunciato una partnership strategica focalizzata sull'avanzamento della tecnologia delle batterie e sulla produzione negli Stati Uniti. La collaborazione comprende tre aree principali: lo sviluppo congiunto del sistema di batterie COR di Worksport, software per sistemi di gestione delle batterie integrato con intelligenza artificiale e integrazione della protezione contro il surriscaldamento.
La partnership sfrutta la piattaforma K1-DS di KULR per la valutazione delle prestazioni e i test di sicurezza. I prodotti di prima generazione SOLIS e COR di Worksport sono previsti per il rilascio nel secondo semestre del 2025. Dopo l'espansione della produzione negli Stati Uniti nel 2024, i ricavi di Worksport sono aumentati di oltre il 450% rispetto al 2023, raggiungendo un tasso di produzione mensile superiore a 1 milione di dollari.
Si prevede che il mercato dei sistemi di energia portatili raggiunga i 21,95-24,8 miliardi di dollari entro il 2032, con un CAGR del 16-24%. Questa collaborazione mira a trasformare il mercato dell'energia portatile, che supera i 20 miliardi di dollari, attraverso l'innovazione e la produzione scalabile.
KULR Technology Group (NYSE: KULR) y Worksport (Nasdaq: WKSP) han anunciado una asociación estratégica centrada en el avance de la tecnología de baterías y la fabricación en Estados Unidos. La colaboración abarca tres áreas principales: el desarrollo conjunto del sistema de batería COR de Worksport, software de gestión de baterías integrado con inteligencia artificial e integración de protección contra el sobrecalentamiento.
La asociación aprovecha la plataforma K1-DS de KULR para la evaluación del rendimiento y las pruebas de seguridad. Se prevé que los productos de primera generación SOLIS y COR de Worksport se lancen en la segunda mitad de 2025. Tras la expansión de la producción en EE. UU. en 2024, los ingresos de Worksport aumentaron más del 450% con respecto a 2023, alcanzando una tasa de producción mensual que supera el millón de dólares.
Se espera que el mercado de sistemas de energía portátiles alcance entre 21,95 y 24,8 mil millones de dólares para 2032, con una tasa de crecimiento anual compuesta (CAGR) del 16-24%. Esta colaboración tiene como objetivo transformar el mercado de energía portátil, que supera los 20 mil millones de dólares, a través de la innovación y la fabricación escalable.
KULR Technology Group (NYSE: KULR)와 Worksport (Nasdaq: WKSP)는 배터리 기술 발전과 미국 제조에 중점을 둔 전략적 파트너십을 발표했습니다. 이 협력은 Worksport의 COR 배터리 팩 시스템 공동 개발, 인공지능 통합 배터리 관리 시스템 소프트웨어, 열 폭주 방지 통합의 세 가지 주요 영역을 포함합니다.
이 파트너십은 성능 평가 및 안전 테스트를 위해 KULR의 K1-DS 플랫폼을 활용합니다. Worksport의 1세대 SOLIS 및 COR 제품은 2025년 하반기에 출시될 예정입니다. 2024년 미국 생산 확장에 따라 Worksport의 수익은 2023년 대비 450% 이상 증가하여 월 생산량이 100만 달러를 초과했습니다.
휴대용 에너지 시스템 시장은 2032년까지 219.5억~248억 달러에 이를 것으로 예상되며, 연평균 성장률(CAGR)은 16-24%입니다. 이 협력은 200억 달러 이상의 휴대용 에너지 시장을 혁신과 확장 가능한 제조를 통해 변화시키는 것을 목표로 합니다.
KULR Technology Group (NYSE: KULR) et Worksport (Nasdaq: WKSP) ont annoncé un partenariat stratégique axé sur l'avancement de la technologie des batteries et la fabrication aux États-Unis. La collaboration couvre trois domaines principaux : le développement conjoint du système de batterie COR de Worksport, un logiciel de gestion des batteries intégré à l'intelligence artificielle et l'intégration de la protection contre les surchauffes.
Ce partenariat exploite la plateforme K1-DS de KULR pour l'évaluation des performances et les tests de sécurité. Les produits de première génération SOLIS et COR de Worksport sont prévus pour être lancés au second semestre 2025. Après l'expansion de la production aux États-Unis en 2024, les revenus de Worksport ont augmenté de plus de 450 % par rapport à 2023, atteignant un taux de production mensuel supérieur à 1 million de dollars.
Le marché des systèmes d'énergie portables devrait atteindre entre 21,95 et 24,8 milliards de dollars d'ici 2032, avec un taux de croissance annuel composé (CAGR) de 16 à 24 %. Cette collaboration vise à transformer le marché de l'énergie portable, qui dépasse les 20 milliards de dollars, grâce à l'innovation et à la fabrication évolutive.
KULR Technology Group (NYSE: KULR) und Worksport (Nasdaq: WKSP) haben eine strategische Partnerschaft bekannt gegeben, die sich auf den Fortschritt der Batterietechnologie und die Herstellung in den USA konzentriert. Die Zusammenarbeit umfasst drei Hauptbereiche: die gemeinsame Entwicklung des COR-Batteriepacksystems von Worksport, KI-integrierte Software für das Batteriemanagementsystem und die Integration des Schutzes vor thermischem Durchgehen.
Die Partnerschaft nutzt die K1-DS-Plattform von KULR zur Leistungsbewertung und Sicherheitsprüfung. Die Produkte der ersten Generation SOLIS und COR von Worksport sind für die Markteinführung im zweiten Halbjahr 2025 geplant. Nach der Expansion der US-Produktion im Jahr 2024 stiegen die Einnahmen von Worksport im Vergleich zu 2023 um über 450% und erreichten eine monatliche Produktionsrate von über 1 Million Dollar.
Der Markt für tragbare Energiesysteme wird voraussichtlich bis 2032 21,95 bis 24,8 Milliarden Dollar erreichen, mit einer jährlichen Wachstumsrate (CAGR) von 16-24%. Diese Zusammenarbeit zielt darauf ab, den tragbaren Energiemarkt von über 20 Milliarden Dollar durch Innovation und skalierbare Fertigung zu transformieren.
- Worksport's revenue grew 450% YoY in 2024, reaching $1M+ monthly run rate
- Partnership targets $21.95-24.8B market opportunity by 2032
- Integration of KULR's thermal management technology opens new revenue streams
- None.
HOUSTON, Feb. 13, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, and Worksport Ltd. (Nasdaq: WKSP), a pioneer in solar-integrated tonneau covers and portable energy storage, have announced a strategic partnership focused on advancing battery technology and strengthening domestic manufacturing. The collaboration centers on three key areas: joint battery pack development, thermal runaway protection, and AI-integrated battery management system (BMS) software design.
Key Areas of Collaboration
- Joint Battery Pack Development: KULR and Worksport will work together on the development of Worksport’s COR Battery Pack System. This initiative will focus on optimizing BMS requirements, refining cell configurations, and improving overall system performance, safety, and reliability.
- Software (BMS + AI Integration): Both companies aim to incorporate AI-driven software into the BMS, enabling real-time monitoring, predictive maintenance, and advanced data analytics. These advancements will optimize power distribution, extend battery lifespan, and reinforce safety measures.
- Thermal Runaway Protection: The partnership will look to integrate KULR’s patented thermal runaway protection technology into Worksport’s battery systems. This enhancement is expected to significantly improve battery safety and longevity by mitigating thermal runaway risks.
KULR will utilize its KULR ONE Design Solutions (K1-DS) to evaluate the performance, cost efficiency, and scalability of integrated battery solutions for the Worksport COR system. With the first generation of Worksport SOLIS and COR set for release in the second half of 2025, these studies will guide future development and innovation. The K1-DS platform includes advanced battery safety testing methodologies such as Fractional Thermal Runaway Calorimetry (FTRC), bomb calorimetry, and impingement zone mapping, ensuring thorough cell-level characterization and safety optimization.
Market Growth and Business Impact
As demand for U.S.-based production increases—fueled by the Trump administration’s emphasis on tariffs—KULR and Worksport are exploring domestic manufacturing options for the COR Battery Pack and related products. This strategic move aligns with growing market preferences for American-made energy solutions and positions both companies for long-term scalability and expansion.
After expanding U.S. production in 2024, Worksport’s revenue surged more than
Through the integration of its advanced thermal management technology and AI-powered BMS into Worksport’s products, KULR expects to open new revenue streams and establish a significant presence in the portable energy storage sector. The portable energy system market is projected to reach between
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. On December 4, 2024, KULR announced that its Board of Directors has agreed to include bitcoin as a primary asset in its treasury program and committed to allocating up to
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. For more information, please visit investors.worksport.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 as a result of new information, future events or otherwise.
KULR Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com
Website: www.kulrtechnology.com
WKSP Investor Relations:
Worksport Ltd.
Phone: 888-554-8789 x 128
Email: investors@worksport.com
Website: investors.worksport.com
FAQ
What are the key focus areas of the KULR-Worksport partnership announced in February 2024?
When will Worksport release the first generation of SOLIS and COR products with KULR technology?
What was Worksport's revenue growth in 2024 following the KULR partnership announcement?
What is the projected market size for portable energy systems by 2032 according to the KULR-Worksport announcement?
