KULR Secures Follow-On $2.68 Million Contract as Exclusive Supplier of Fail-Safe Battery Safety Solutions
SAN DIEGO, Feb. 28, 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 secured a $2.68 million follow-on contract as the exclusive supplier of its patented and proprietary fail-safe Passive Propagation
KULR Technology Group, Inc., a company dedicated to advancing energy management systems to support the global shift towards sustainable electrification, has recently made a significant stride in the industry. The company has secured a follow-on contract worth $2.68 million, solidifying its position as the exclusive supplier of its innovative and fail-safe battery safety solutions. This milestone highlights KULR’s continued commitment to enhancing safety standards in battery technology and contributing to the advancement of sustainable energy practices.
With its patented Passive Propagation Resistant (PPR) technology, KULR offers a cutting-edge solution to mitigate the risk of thermal runaway in lithium-ion batteries. Thermal runaway is a major concern in battery systems, as it can lead to fires and explosions, posing serious safety hazards. By implementing PPR technology, KULR ensures enhanced safety measures, making its battery safety solutions highly reliable and efficient.
How This Will Affect Me:
As a consumer, the securement of this follow-on contract by KULR signifies a positive development in the realm of battery safety. With KULR’s innovative technology being utilized as the exclusive solution for fail-safe battery safety, you can have increased confidence in the safety and reliability of energy storage systems, such as those found in electric vehicles, consumer electronics, and renewable energy applications. This advancement ultimately translates to a safer and more sustainable energy future for consumers like you.
How This Will Affect the World:
The global impact of KULR’s latest achievement is significant in the context of advancing sustainable electrification worldwide. By establishing itself as a leading supplier of fail-safe battery safety solutions, KULR is playing a crucial role in promoting the adoption of cleaner and more efficient energy technologies on a global scale. This not only contributes to reducing environmental impact but also fosters a safer and more resilient energy infrastructure for communities around the world.
Conclusion:
KULR Technology Group’s successful securing of a $2.68 million follow-on contract as the exclusive supplier of fail-safe battery safety solutions exemplifies the company’s dedication to advancing energy management practices and driving the transition to a sustainable electrification economy. The utilization of KULR’s innovative Passive Propagation Resistant technology not only enhances safety standards in battery systems but also paves the way for a brighter and cleaner energy future for both consumers and the global community.
