KULR Technology Group and Amprius Technologies Form Strategic Partnership for Advanced Battery Packs

Rhea-AI Summary

KULR Technology Group and Amprius Technologies have formed a strategic partnership to integrate Amprius' high-performance cylindrical cells into KULR ONE Space and Guardian battery architectures. This collaboration aims to provide superior energy density and discharge capability for defense and space applications, meeting stringent safety specifications. The partnership signifies a significant advancement in battery technology for aerospace and military sectors, positioning both companies as leaders in the industry.

Positive

• The strategic partnership between KULR Technology Group and Amprius Technologies promises to revolutionize battery solutions for high-stakes environments in defense and aerospace sectors.

• The integration of Amprius' silicon-anode SA10 cells into KULR's battery packs will offer superior energy density and discharge capability, ensuring a propagation-resistant structure with necessary safety measures.

• The collaboration signifies a leap forward in battery technology tailored for defense and space applications, showcasing both companies' commitment to innovation and safety in providing high reliability energy storage solutions.

Negative

• Potential challenges may arise during the integration process of Amprius' high-performance cylindrical cells into KULR's battery architectures, impacting the timeline of product development and commercialization.

• There could be risks associated with meeting the stringent specifications for defense and space operations, as any deviations from safety requirements may result in delays or setbacks in securing essential approvals for battery packs.

Insights

Market Research Analyst

The partnership between KULR Technology Group and Amprius Technologies marks a significant step in the advancement of battery technology for defense and aerospace applications. Targeting high-reliability sectors, this alliance underlines the increasing demand for energy solutions that combine high energy density with robust safety features. As the aerospace and defense sectors continue to innovate, the need for such advanced energy storage solutions is expected to grow, offering potential market expansion for both KULR and Amprius. Investors should be aware of the broader industry trends, including the forecasted growth of the space economy to $1.8 trillion by 2035, which could signal increased opportunities for companies like KULR that are positioned at the intersection of space technology and energy storage.

Technology Analyst

The technical synergy between KULR's battery platforms and Amprius' SA10 silicon-anode cells could set a precedent for future energy solutions. The SA10 cell's superior energy density and discharge capability are concrete technological enhancements that can differentiate these battery packs from competitors. By integrating such advanced technology into battery systems that comply with NASA JSC 20793 standard and MIL-STD-810H, KULR is addressing both the immediate reliability requirements and the long-term need for innovation in energy storage. This initiative may not only enhance KULR's product offerings but also solidify its reputation as an innovator in energy solutions for critical applications.

Financial Analyst

From a financial perspective, the partnership may lead to an increase in R&D expenses in the short term as KULR integrates Amprius' technology into their battery packs. However, if successful, the strategic alliance could result in a diversified revenue stream and potentially higher margins due to the specialized nature of the products and their alignment with high-value markets such as military and space operations. The partnership’s aim to meet rigorous safety and performance standards could also offer a competitive edge, positioning both companies favorably for securing contracts with government and private entities within the growing space economy.

KULR ONE Space and KULR ONE Guardian Platforms to Integrate Amprius Silicon Anode SA10 Cells

SAN DIEGO, April 30, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in safe and high performance energy storage solutions, today announced a leap forward in battery technology tailored for defense and space applications as KULR Technology Group (NYSE: KULR) and Amprius Technologies (NYSE: AMPX) officially announce their strategic partnership. This collaboration heralds the integration of Amprius' innovative high performance cylindrical cell into KULR ONE Space and Guardian battery architectures, renowned for their high reliability and robust safety protection, for aerospace and military applications. At the heart of this partnership is Amprius' silicon-anode SA10 cells, which are set to provide a tactical edge through superior energy density and discharge capability. The incorporation of these cells into KULR ONE Space & Guardian reference designs will ensure a propagation-resistant structure, equipped with the necessary safety measures to meet stringent specifications for defense and space operations.

KULR Technology Group is poised to incorporate these cutting-edge cells into forthcoming standard battery models like the BB 2590 and into commercialized variations of the KULR ONE Space 100 to 400 Wh variations, harnessing our NASA-certified screening practices, or similar, to bolster safety. This crucial step meets a fundamental requirement for battery packs destined for crewed space flights, in compliance with the NASA JSC 20793 standard and for next generation military battery packs required to satisfy extensive environmental testing requirements such as MIL-STD-810H. Working jointly with Amprius and NASA, KULR is committed to securing the essential approvals for the SA10's use in battery packs for these vital missions and applications.

A recent collaborative report by the World Economic Forum and consultancy firm McKinsey & Company highlights the potential of the global space economy to address major industry and societal issues. The report forecasts that by 2035 the sector’s valuation could reach $1.8 trillion, putting it on par with the influential semiconductor industry. The study envisions space technologies becoming as integral to daily life as semiconductors are currently, driven primarily by advancements in communications positioning, navigation and timing, and Earth observation services.

KULR CEO Michael Mo remarked, "The innovation encapsulated within the SA10 cell, and the agility demonstrated by Amprius align seamlessly with our commitment to serving high reliability sectors. This is an ideal strategic partnership for our KULR ONE platform utilizing their high energy density cell. Together, we are positioned to exceed the expectations of our mission-critical customers.”

Amprius Technologies’ CEO Dr. Kang Sun praised the alliance, stating, "KULR's unwavering dedication to safety and innovation, coupled with their ability to rapidly produce prototypes, is indispensable. KULR’s adoption of Amprius’ industry-leading cell based on the SiCore™ product line not only allows us to enter new markets with cutting-edge technology, but it also propels ongoing development for future demands."

This strategic partnership sets a new standard for battery solutions in high-stakes environments, reflecting both companies' visions for a safer, more efficient future. The integration of Amprius' SA10 cells into KULR's battery packs is poised to revolutionize the landscape of power sources for the defense and aerospace sectors, offering unprecedented reliability and safety.

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.

About Amprius Technologies, Inc.
Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries producing the industry’s highest known energy density cells. The company’s commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third party validation of 500Wh/kg and 1,300 Wh/L. The company’s corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into a lease agreement for an approximately 774,000 square foot facility in Brighton, Colorado, and expanded its product portfolio to include the SiCore™ platform. For additional information, please visit amprius.com. Also, see the company’s LinkedIn and X pages.

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.  
  
Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3eadc853-cd88-44ec-845d-80385f29fe42

FAQ

What is the strategic partnership between KULR Technology Group and Amprius Technologies about?

The partnership aims to integrate Amprius' high-performance cylindrical cells into KULR ONE Space and Guardian battery architectures for defense and space applications.

What are the key benefits of integrating Amprius' silicon-anode SA10 cells into KULR's battery packs?

The integration will provide superior energy density and discharge capability, ensuring a propagation-resistant structure with necessary safety measures.

Which sectors will benefit from this partnership between KULR Technology Group and Amprius Technologies?

The defense and aerospace sectors will benefit from the advanced battery solutions developed through this collaboration.

What standards do the battery packs need to comply with for crewed space flights?

The battery packs need to comply with the NASA JSC 20793 standard for crewed space flights.

How does the strategic partnership between KULR Technology Group and Amprius Technologies contribute to innovation in the industry?

The partnership signifies a leap forward in battery technology tailored for defense and space applications, showcasing commitment to innovation and safety.