KULR Technology announces licensing agreement for its Xero Vibe technology

KULR Technology Group announced a licensing agreement for its proprietary vibration reduction technology named KULR Xero Vibe. The $2.35M landmark deal includes a $1.1M minimum guaranteed license and royalty fee, a unique opportunity for the licensee to purchase proprietary balancing equipment directly from KULR and additional revenue upside to KULR based on volume and technology upgrades. The licensee, a leading Japanese corporation, specializing in systems integration and the distribution of advanced semiconductor solutions, intends to use the KXV technology to balance industrial-scale fan systems used in data center computer cooling, HVAC and other industrial applications. KULR is exploring additional license opportunities based on geographic regions in tangential power-consuming applications, where KULR expects substantial upside revenue potential as product sales and royalty income scales along with its customers’ growth.