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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  KULR Technology Group, Inc.    KULR

KULR TECHNOLOGY GROUP, INC.

(KULR)
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KULR Technology Provides Battery Safety Solutions For Leading Electric Aircraft Company

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10/10/2019 | 09:37am EDT

CAMPBELL, Calif., Oct. 10, 2019 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of battery safety and thermal management technologies, announced that it is testing and providing battery safety solutions for a pioneer in the design and development of electric powered aircraft for future air taxi services. The testing will provide procedures, designs, and technologies for new battery pack configurations that can effectively satisfy the safety, efficiency, and power demands of the company’s vertical take-off and landing (VTOL) battery-powered aircraft.

The electric aircraft company is drawing upon KULR's technical expertise in building lightweight high-performance thermal management solutions for NASA, including the astronaut space suit, Mars 2020 rover, and Orion spacecraft. Recently, KULR announced its battery storage technologies will be used to safely ship to and store batteries aboard the International Space Station. KULR’s Thermal Runaway Shield (TRS), has repeatedly shown in independent laboratory testing to prevent dangerous chain-reaction battery fires resulting from thermal runaway propagation.

“We look forward to helping our partners improve the safety and performance of their battery packs and energy systems,” said Dr. Timothy Knowles, CTO of KULR. “In this particular case, the power demands for vertical take off and landing are very high, so getting the best possible balance of power, weight and safety is of great importance – autonomous air taxis, delivery drones, space craft, and unmanned military vehicles all need to get that exactly right.”

About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA deep space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.

Safe Harbor Statement
This 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 parent entity’s Form 10-K filed on March 29, 2019. 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. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Media Contact:
Derek Newton
Head, Media Relations
(786) 499-8998
derek.newton@kulrtechnology.com

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© GlobeNewswire 2019
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Financials (USD)
Sales 2018 -
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Capitalization 138 M
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Managers
NameTitle
Michael Mo Chairman & Chief Executive Officer
Simon P. Westbrook Chief Financial Officer
Timothy R. Knowles Secretary, Director & Chief Technical Officer
Michael G. Carpenter Vice President-Engineering
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