KULR Secures Expanded U.S. Army Battery Contract to $2.4M, Paving Way for KULR ONE Guardian Battery Production in 2025
KULR Technology Group has announced an expansion of its contract with the United States Army to $2.4M. This expanded contract includes developing additional prototypes and conducting environmental qualification testing according to MIL-STD-810E standards. KULR is on track to complete its initial engagement with the Army by Q3 2024.
The collaboration focuses on advancing silicon anode lithium-ion battery cells for demanding conditions, emphasizing increased energy density without compromising safety or reliability. This partnership is seen as a key driver for expanding KULR's innovative technologies, particularly the KULR ONE platform. The company anticipates accelerated product sales in 2025, with this Army engagement enhancing product capabilities and paving the way for broader adoption of KULR ONE.
KULR Technology Group ha annunciato un'espansione del suo contratto con l'Esercito degli Stati Uniti a 2,4 milioni di dollari. Questo contratto ampliato include lo sviluppo di ulteriori prototipi e la conduzione di test di qualificazione ambientale secondo gli standard MIL-STD-810E. KULR è in corsa per completare il suo impegno iniziale con l'Esercito entro il terzo trimestre del 2024.
La collaborazione si concentra sullo sviluppo di celle di batteria agli ioni di litio con anodo in silicio per condizioni difficili, ponendo l'accento su una maggiore densità energetica senza compromettere la sicurezza o l'affidabilità. Questa partnership è vista come un fattore chiave per l'espansione delle tecnologie innovative di KULR, in particolare la piattaforma KULR ONE. L'azienda prevede una vendita accelerata dei prodotti nel 2025, con questo impegno con l'Esercito che migliora le capacità del prodotto e apre la strada a una più ampia adozione di KULR ONE.
KULR Technology Group ha anunciado una expansión de su contrato con el Ejército de los Estados Unidos por 2,4 millones de dólares. Este contrato ampliado incluye el desarrollo de prototipos adicionales y la realización de pruebas de calificación ambiental según los estándares MIL-STD-810E. KULR está en camino de completar su compromiso inicial con el Ejército para el tercer trimestre de 2024.
La colaboración se centra en el avance de celdas de batería de iones de litio con ánodo de silicio para condiciones exigentes, enfatizando una mayor densidad de energía sin comprometer la seguridad o la fiabilidad. Esta asociación es vista como un motor clave para expandir las tecnologías innovadoras de KULR, particularmente la plataforma KULR ONE. La empresa anticipa ventas de productos aceleradas en 2025, con este compromiso con el Ejército que mejora las capacidades del producto y allana el camino para una adopción más amplia de KULR ONE.
KULR 기술 그룹은 미국 육군과의 계약을 240만 달러로 확대한다고 발표했습니다. 이 확장된 계약에는 추가 프로토타입 개발 및 환경 적합성 테스트 수행이 포함되어 있으며, 이는 MIL-STD-810E 기준에 따릅니다. KULR는 2024년 3분기까지 육군과의 초기 작업을 완료할 목표를 세웠습니다.
이번 협력은 고온 환경에서도 성능을 발휘하는 실리콘 음극 리튬 이온 배터리 셀의 발전에 초점을 맞추며, 안전성이나 신뢰성을 저해하지 않으면서 에너지 밀도를 높이는 것을 강조합니다. 이 파트너십은 KULR의 혁신적인 기술이 확대되는 주요 원동력으로 작용할 것으로 보입니다, 특히 KULR ONE 플랫폼에 있어 더욱 그러합니다. 회사는 2025년 제품 판매 증가를 예상하고 있으며, 이번 육군과의 협력이 제품 능력을 향상시키고 KULR ONE의 광범위한 채택을 위한 길을 열 것으로 기대하고 있습니다.
KULR Technology Group a annoncé une expansion de son contrat avec l'Armée des États-Unis, portant celui-ci à 2,4 millions de dollars. Ce contrat élargi comprend le développement de prototypes supplémentaires et la réalisation de tests de qualification environnementale selon les normes MIL-STD-810E. KULR prévoit de compléter son engagement initial avec l'Armée d'ici le troisième trimestre 2024.
La collaboration se concentre sur l'avancement des cellules de batterie lithium-ion à anode en silicium pour des conditions exigeantes, en mettant l'accent sur une densité énergétique accrue sans compromettre la sécurité ou la fiabilité. Ce partenariat est considéré comme un facteur clé pour l'expansion des technologies innovantes de KULR, notamment la plateforme KULR ONE. L'entreprise anticipe une augmentation des ventes de produits en 2025, cet engagement avec l'Armée améliorant les capacités du produit et ouvrant la voie à une adoption plus large de KULR ONE.
KULR Technology Group hat eine Erweiterung ihres Vertrags mit dem US-Heer auf 2,4 Millionen Dollar angekündigt. Dieser erweiterte Vertrag umfasst die Entwicklung zusätzlicher Prototypen und die Durchführung von Umwelttests gemäß den MIL-STD-810E Standards. KULR ist auf dem Weg, sein erstes Engagement mit dem Heer bis zum dritten Quartal 2024 abzuschließen.
Die Zusammenarbeit konzentriert sich auf die Entwicklung von Siliziumanoden-Lithium-Ionen-Batteriezellen für anspruchsvolle Bedingungen und betont eine erhöhte Energiedichte, ohne Sicherheit oder Zuverlässigkeit zu beeinträchtigen. Diese Partnerschaft wird als Schlüsselfaktor für die Erweiterung von KULRs innovativen Technologien angesehen, insbesondere der KULR ONE-Plattform. Das Unternehmen erwartet beschleunigte Produktverkäufe im Jahr 2025, wobei dieses Engagement mit dem Heer die Produktfähigkeiten verbessert und den Weg für eine breitere Akzeptanz von KULR ONE ebnet.
- Expanded U.S. Army contract to $2.4M
- On track to complete initial Army engagement by Q3 2024
- Development of advanced silicon anode lithium-ion battery cells
- Anticipated acceleration of KULR ONE product sales in 2025
- None.
Insights
The expanded
The rigorous MIL-STD-810E testing requirements underscore the critical nature of this technology for military use. Success here could open doors to broader defense contracts and potentially civilian applications, given the emphasis on safety and reliability under extreme conditions.
Investors should note the strategic importance of this contract as a precursor to the planned 2025 launch of KULR ONE Guardian Battery production. This timeline suggests a clear path to commercialization, which could significantly impact KULR's revenue streams in the near future.
While the immediate financial impact is modest relative to KULR's
KULR's focus on silicon anode lithium-ion battery cells is particularly noteworthy. This technology promises higher energy density, which is important for military applications where power-to-weight ratio is critical. The challenge lies in maintaining safety and reliability while increasing energy density, a balance KULR seems to be addressing head-on.
The environmental qualification testing to MIL-STD-810E standards is a rigorous process that tests equipment under extreme environmental conditions. Success here would be a strong indicator of the technology's robustness and could position KULR's batteries as top contenders for various military and rugged civilian applications.
The planned 2025 production of KULR ONE Guardian Batteries suggests confidence in passing these tests. This timeline also aligns with the growing demand for advanced battery solutions in various sectors, potentially allowing KULR to capture significant market share as the technology matures.
HOUSTON, Sept. 25, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced that it is on track to successfully complete its initial engagement with the United States Army by Q3 2024. Building on the momentum of this ongoing partnership, the Army will expand its battery contract with the Company to
This expanded contract underscores KULR’s commitment to advancing the performance and reliability of silicon anode lithium-ion battery cells under the most demanding conditions. These prototypes will undergo rigorous testing to ensure that the increased energy density does not compromise safety or reliability in active-duty environments. By maintaining stringent standards, KULR aims to support the Army’s mission readiness and operational efficiency.
As part of its broader growth strategy, KULR sees this collaboration as a key driver for expanding the deployment of its innovative technologies, such as the KULR ONE platform. This engagement with the U.S. Army enhances product capabilities and lays the groundwork for a growing adoption of KULR ONE, with product sales expected to accelerate in 2025. The Company’s forward-looking strategy is centered on delivering solutions that drive both technological advancements and cost efficiencies for its partners.
Michael Mo, CEO of KULR Technology Group, commented, “This expanded contract is a crucial step in our collaboration with the U.S. Army. By pushing the boundaries of energy density while maintaining the highest safety and reliability standards, we are laying the foundation for future adoption across the Army's technological infrastructure. Our focus remains on delivering innovative solutions that meet the operational demands of our armed forces in the harshest environments.”
This contract aligns with KULR’s long-term strategy of forming strong partnerships and developing technologies that enhance energy efficiency and resilience in critical military applications. Success in these efforts only reinforces KULR's role as a key contributor to mission readiness in the defense and aerospace sectors. For more information about KULR Technology Group and its cutting-edge energy management solutions, please visit http://www.kulrtechnology.com.
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
FAQ
What is the value of KULR's expanded contract with the U.S. Army?
When is KULR expected to complete its initial engagement with the U.S. Army?
What type of battery technology is KULR developing for the U.S. Army?
When does KULR anticipate accelerated sales of its KULR ONE product?
