KULR Technology Group Joins the Outdoor Power Equipment Institute

Rhea-AI Summary

KULR Technology Group (OTCQB: KULR) has joined the Outdoor Power Equipment Institute (OPEI), reflecting its commitment to safe lithium battery design and manufacturing. OPEI comprises over 100 manufacturers and suppliers advocating for lithium battery use in outdoor power equipment. This membership allows KULR to engage with industry leaders to promote its thermal runaway mitigation technology, crucial for balancing battery cost, performance, and safety. CEO Michael Mo emphasized the growth potential in the outdoor power equipment market, reinforcing KULR's role in enhancing battery safety and innovation.

Positive

• KULR joins OPEI, enhancing collaboration with over 100 manufacturers.
• Opportunity to promote thermal runaway mitigation technology.
• Growing outdoor power equipment market presents potential for KULR's innovations.

Negative

• None.

SAN DIEGO, CA / ACCESSWIRE / September 15, 2020 / KULR Technology Group, Inc. (OTCQB:KULR) (the "Company" or "KULR"), a leading developer of next-generation thermal management technologies, today announces its membership with the Outdoor Power Equipment Institute ("OPEI"), demonstrating the Company's commitment to the safe design and manufacturing of lithium batteries.

OPEI is an international trade association representing more than 100 power equipment, engine and utility vehicle manufacturers and suppliers. Its members support the use of lithium batteries in power outdoor equipment, such as leaf blowers, chainsaws, robotic lawnmowers and golf carts, and are committed to safe consumer-use of these products.

When designing battery management systems battery manufacturers must balance three key factors: battery costs, battery performance and battery safety. As a member of the Outdoor Power Equipment Institute, KULR now has the opportunity to engage with manufacturers and suppliers, and encourage them to use the Company's thermal runaway mitigation technology to achieve this balance.

"The market for outdoor power equipment is essential, and is rapidly growing in both size and innovation," stated Michael Mo, CEO of KULR. "Amid this growth, we are pleased to join OPEI and its members in the pursuit of creating safe, compact, lightweight and less costly lithium battery-powered equipment for commercial and consumer use."

Appropriate battery design, manufacturing processes, testing and packaging play critical roles in battery safety and the success of industry innovation. The proper combination of these components creates strong pathways for new products and reduces the risk of thermal event by mitigating the hazards and limiting the effects of mass propagation.

KULR's passive propagation resistant (PPR) battery design solution, including both trigger and product cells, for lithium ion battery testing and safety, is well-positioned to support the development of batteries that are more resistant to thermal runaway, thus ensuring battery safety during production, transport, and consumer or commercial applications.

About KULR Technology Group, Inc.

KULR Technology Group, Inc. (OTCQB: 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.

About Outdoor Power Equipment Institute

The Outdoor Power Equipment Institute (OPEI) is an international trade association representing more than 100 power equipment, engine and utility vehicle manufacturers and suppliers. OPEI is the advocacy voice of the industry, and a recognized Standards Development Organization for the American National Standards Institute (ANSI) and active internationally through the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) in the development of safety and performance standards. OPEI is managing partner of GIE+EXPO, the industry's annual international trade show, and the creative force behind the environmental education program, TurfMutt.com. OPEI-Canada represents members on a host of issues, including recycling, emissions and other regulatory developments across the Canadian provinces. For more information, visit www.OPEI.org

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 on May 14, 2020. 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:
Keith Pinder
Landon Capital
Main: (404) 995-6671
kpinder@landoncapital.net

Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
derek.newton@kulrtechnology.com

SOURCE: KULR Technology Group, Inc.

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FAQ

What does KULR Technology Group's membership with OPEI signify?

KULR's membership with OPEI signifies its commitment to safe lithium battery design and the opportunity to collaborate with over 100 manufacturers in the outdoor power equipment sector.

How does KULR's technology contribute to battery safety?

KULR's thermal runaway mitigation technology aims to enhance battery safety by minimizing the risks associated with lithium batteries during production, transportation, and usage.

What is the significance of the outdoor power equipment market for KULR?

The outdoor power equipment market is rapidly growing, presenting KULR with significant opportunities to innovate and enhance safety features in lithium battery-powered devices.

When was KULR's membership with OPEI announced?

KULR announced its membership with the Outdoor Power Equipment Institute on September 15, 2020.

What does OPEI do?

OPEI is an international trade association that represents manufacturers and suppliers of outdoor power equipment, advocating for safe and efficient use of lithium batteries.