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 focused on battery technology advancement and domestic 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, with the first generation of Worksport SOLIS and COR scheduled for release in H2 2025. After expanding U.S. production in 2024, Worksport's revenue increased by over 450% from 2023 to 2024, achieving a monthly run rate exceeding $1 million. The company projects potential nine-figure revenues within 2-3 years.
The collaboration aims to capitalize on the growing portable energy system market, projected to reach $21.95-24.8 billion by 2032 with a CAGR of 16-24%. The partnership focuses on domestic manufacturing to meet increasing U.S.-based production demand.
KULR Technology Group (NYSE: KULR) e Worksport (NASDAQ: WKSP) hanno annunciato una partnership strategica incentrata sull'avanzamento della tecnologia delle batterie e sulla produzione domestica. La collaborazione comprende tre aree principali: lo sviluppo congiunto del sistema di batterie COR di Worksport, software integrato di gestione delle batterie basato su 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, con la prima generazione di SOLIS e COR di Worksport prevista per il rilascio nel secondo semestre del 2025. Dopo aver ampliato la produzione negli Stati Uniti nel 2024, i ricavi di Worksport sono aumentati di oltre il 450% dal 2023 al 2024, raggiungendo un tasso di produzione mensile superiore a 1 milione di dollari. L'azienda prevede potenziali ricavi a nove cifre entro 2-3 anni.
La collaborazione mira a capitalizzare il crescente mercato dei sistemi di energia portatile, previsto per raggiungere i 21,95-24,8 miliardi di dollari entro il 2032 con un CAGR del 16-24%. La partnership si concentra sulla produzione domestica per soddisfare la crescente domanda di produzione negli Stati Uniti.
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 nacional. La colaboración abarca tres áreas principales: el desarrollo conjunto del sistema de batería COR de Worksport, software de gestión de baterías integrado con IA y la 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, con la primera generación de SOLIS y COR de Worksport programada para su lanzamiento en la segunda mitad de 2025. Después de expandir la producción en EE. UU. en 2024, los ingresos de Worksport aumentaron más del 450% de 2023 a 2024, alcanzando una tasa de producción mensual que supera 1 millón de dólares. La empresa proyecta ingresos potenciales de nueve cifras dentro de 2-3 años.
La colaboración tiene como objetivo capitalizar el creciente mercado de sistemas de energía portátil, que se prevé alcanzará entre 21,95 y 24,8 mil millones de dólares para 2032, con una CAGR del 16-24%. La asociación se centra en la fabricación nacional para satisfacer la creciente demanda de producción en EE. UU.
KULR 테크놀로지 그룹 (NYSE: KULR)와 웍스포트 (NASDAQ: WKSP)가 배터리 기술 발전과 국내 제조에 중점을 둔 전략적 파트너십을 발표했습니다. 이 협력은 웍스포트의 COR 배터리 팩 시스템 공동 개발, AI 통합 배터리 관리 시스템 소프트웨어, 열 폭주 방지 통합의 세 가지 주요 영역을 포함합니다.
이 파트너십은 KULR의 K1-DS 플랫폼을 활용하여 성능 평가 및 안전 테스트를 진행하며, 웍스포트의 첫 번째 세대 SOLIS 및 COR는 2025년 하반기에 출시될 예정입니다. 2024년 미국 생산을 확대한 후, 웍스포트의 매출은 2023년에서 2024년 사이에 450% 이상 증가하여 월 100만 달러 이상의 생산 속도를 달성했습니다. 이 회사는 2-3년 내에 잠재적인 9자리 수익을 예상하고 있습니다.
협력은 2032년까지 219억 5천만에서 248억 달러에 이를 것으로 예상되는 증가하는 휴대용 에너지 시스템 시장을 활용하는 것을 목표로 하며, 연평균 성장률(CAGR)은 16-24%입니다. 이 파트너십은 증가하는 미국 내 생산 수요를 충족하기 위해 국내 제조에 중점을 두고 있습니다.
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 nationale. 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'IA et l'intégration de protections contre les surchauffes.
Le partenariat exploite la plateforme K1-DS de KULR pour l'évaluation des performances et les tests de sécurité, avec la première génération des modèles SOLIS et COR de Worksport prévue pour le lancement au second semestre 2025. Après avoir élargi la production aux États-Unis en 2024, les revenus de Worksport ont augmenté de plus de 450 % entre 2023 et 2024, atteignant un taux de production mensuel dépassant 1 million de dollars. L'entreprise prévoit des revenus potentiels à neuf chiffres dans 2-3 ans.
La collaboration vise à capitaliser sur le marché croissant des systèmes d'énergie portable, qui devrait atteindre entre 21,95 et 24,8 milliards de dollars d'ici 2032, avec un TCAC de 16-24 %. Le partenariat se concentre sur la fabrication nationale pour répondre à la demande croissante de production aux États-Unis.
KULR Technology Group (NYSE: KULR) und Worksport (NASDAQ: WKSP) haben eine strategische Partnerschaft angekündigt, die sich auf den Fortschritt der Batterietechnologie und die heimische Fertigung konzentriert. Die Zusammenarbeit umfasst drei Hauptbereiche: die gemeinsame Entwicklung des COR-Batteriepack-Systems von Worksport, KI-integrierte Software für das Batteriemanagementsystem und die Integration von Schutzmaßnahmen gegen Wärmeentwicklung.
Die Partnerschaft nutzt die K1-DS-Plattform von KULR zur Leistungsbewertung und Sicherheitstests, wobei die erste Generation der SOLIS- und COR-Modelle von Worksport für die zweite Hälfte 2025 geplant ist. Nach der Erweiterung der Produktion in den USA im Jahr 2024 stiegen die Einnahmen von Worksport von 2023 auf 2024 um über 450% und erreichten eine monatliche Produktionsrate von über 1 Million Dollar. Das Unternehmen prognostiziert potenzielle Einnahmen im neunstelligem Bereich innerhalb von 2-3 Jahren.
Die Zusammenarbeit zielt darauf ab, den wachsenden Markt für tragbare Energiesysteme zu nutzen, der bis 2032 voraussichtlich 21,95 bis 24,8 Milliarden Dollar erreichen wird, mit einer CAGR von 16-24%. Die Partnerschaft konzentriert sich auf die heimische Fertigung, um der steigenden Nachfrage nach Produktion in den USA gerecht zu werden.
- Revenue growth of 450% YoY with $1M+ monthly run rate
- Projected nine-figure revenue potential within 2-3 years
- Strategic entry into $20B+ portable energy market
- Integration of advanced thermal management and AI technology
- None.
Insights
This strategic partnership marks a pivotal moment in the portable energy storage sector, combining KULR's advanced thermal management expertise with Worksport's innovative solar-integrated products. The integration of AI-driven BMS represents a significant technological leap, enabling predictive maintenance and advanced analytics that could substantially reduce operational costs and extend battery life cycles.
Worksport's remarkable 450% revenue growth and achievement of a $1 million monthly run rate demonstrates strong market validation. The timing of the SOLIS and COR product launch in H2 2025 aligns strategically with growing market demand for portable energy solutions, particularly as off-grid applications expand. The partnership's focus on domestic manufacturing is particularly astute, capitalizing on current market preferences and potential policy tailwinds.
The collaboration's emphasis on thermal runaway protection through KULR's patented technology addresses a critical market need for enhanced battery safety. This differentiation is important in the portable energy storage sector, where safety concerns often influence adoption rates. The integration of KULR's K1-DS platform, featuring advanced testing methodologies like FTRC and bomb calorimetry, provides a robust framework for product development and safety validation.
The projected market growth to $24.8 billion by 2032 at a CAGR of up to 24% suggests substantial revenue potential. However, the key value proposition lies in the partnership's ability to deliver integrated solutions that combine safety, performance, and intelligent power management - creating significant barriers to entry for competitors.
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
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