KULR Technology Group, Inc. - KULR STOCK NEWS

KULR Technology Group (NYSE American: KULR) has introduced a new passive propagation resistant (PPR) solution in its KULR-Tech Safe Case product line aimed at meeting the upcoming safety regulations set by the U.S. Coast Guard for the passenger vessel market. This innovation enhances battery safety by preventing thermal runaway propagation and is applicable to cargo, fishing, and cruise sectors. The KULR-Tech Safe Case is reusable and integrates NASA-proven technology, supporting up to 2.1 kWh capacity for lithium-ion batteries, making it a significant development in maritime battery safety.

Viridi Parente, Inc. has raised $94.695 million in a Series C funding round, achieving a post-money valuation of $700 million. This investment aims to enhance the company's fail-safe lithium-ion battery storage technology at scale. Leading the funding is investor B. Thomas Golisano, with significant contributions from Sunbelt Rentals and National Grid Partners. The advancements in Viridi's technology promise to double energy transmission capacity without new infrastructure, targeting a growing market projected to reach $205 billion by 2025.

KULR Technology Group (NYSE American: KULR) has received a three-year, multi-million dollar deployment order for its Passive Propagation Resistant (PPR) solution from Volta Energy Products, a subsidiary of Viridi Parente. The initial order, worth approximately $1.6 million, focuses on stationary and mobile lithium-ion battery power systems. This marks KULR’s first commercial deployment of the PPR technology, which includes the patented thermal runaway shield product. The partnership aims to enhance the safety and efficiency of energy storage solutions.

KULR Technology Group, a leader in lithium-ion battery safety technologies, will host the SAE G-27 committee on lithium battery packaging in San Diego in late 2022. This event aims to enhance safety standards for transporting lithium batteries on aircraft, crucial for promoting sustainable energy use. CEO Michael Mo emphasized collaboration with regulators to improve battery safety technologies. The SAE G-27 committee develops standards for safe lithium battery shipment, working with various international organizations to mitigate fire risks during air transport.

KULR Technology Group, a leader in lithium-ion battery safety and thermal management, has acquired patented IP rights from Centropy AB. This acquisition enhances KULR's offerings in advanced carbon fiber heatsink technology for high power computing applications, specifically targeting areas like cloud computing and crypto mining. The integration of Centropy's cooling solutions aims to improve operational efficiency for crypto miners, addressing significant cost components. The CEOs of both companies express optimism about the collaboration, emphasizing the potential for synergy and commercialization of advanced thermal management technologies.

KULR Technology Group, Inc. (NYSE American: KULR) has secured an initial order worth approximately $500,000 for its passive propagation resistant (PPR) battery systems from Lockheed Martin Corporation (NYSE: LMT). This order marks the beginning of collaboration as Lockheed Martin integrates KULR's advanced battery technologies into its Advanced Energy Systems. KULR's PPR products include the Thermal Runaway Shield and Internal Short Circuit systems, aimed at enhancing battery safety for aerospace and Defense Department applications.

KULR Technology Group, a leader in lithium-ion battery safety and thermal management, will present at the Sequire Clean Tech & EV Conference on December 6, 2021, at 8:00 AM ET. CEO Michael Mo will host a live webcast and hold one-on-one meetings throughout the event. The company is known for its innovative carbon fiber thermal management technologies, benefiting industries such as aerospace and electric vehicles. Interested parties can find more information and replay the presentation on the company's website.

KULR Technology Group reported a significant increase in Q3 revenue, with a year-over-year growth of over 300%, amounting to $600,921.

Key partnerships and investments are enhancing KULR's product commercialization capabilities, as they focus on innovative battery technologies. The company is strategically positioned with $11 million in cash and has secured permits from the U.S. Department of Transportation for safe lithium-ion battery transportation. However, KULR also noted a substantial rise in operational losses, now at $3.1 million, alongside increased SG&A and R&D expenses, which may raise investor concerns.

KULR Technology Group (NYSE American: KULR) will showcase its innovative CellCheck Battery Management System at the Advanced Automotive Battery Conference in San Diego from December 7-9, 2021. This modular battery management system enhances battery safety and performance by providing real-time data on adverse events. KULR plans to commercially launch CellCheck in the first half of 2022. The conference will also feature prominent names in the automotive battery sector, highlighting KULR's engagement with leading manufacturers.