Contract to Develop High-Energy Battery Packs for Uninterruptible Power Supplies to Mobile Command Centers
SAN DIEGO, May 22, 2023 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leading energy management platform company accelerating the global transition to a sustainable electrification economy, today announced it has received a development contract from a branch within the United States Armed Forces to develop high-energy battery packs for uninterruptible power supplies to mobile command centers.
This is the second KULR ONE Design Solutions (“K1DS”) contract within a month for San Diego based KULR as it grows its comprehensive solutions platform business, delivering what the Company believes to be the safest battery solutions for high energy and demanding applications. Earlier this month, the United States Army awarded KULR a $1.13 million contract to develop a high-energy battery storage platform for advanced aviation applications.
“Although there is still more than a month left in our current fiscal quarter, we believe that we are seeing impressive demand for KULR ONE battery packs leading to sizable growth in revenue from Q1 2023," commented KULR CEO Michael Mo. "We continue to showcase the advantages of our products and this order again demonstrates the increasing adoption of our products and design solutions in the battery and energy storage marketplace. These orders continue to enhance our growth and position in the marketplace and confirm the sustainability of our growth trajectory.”
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.
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