KULR Technology Group, Inc. announced it has received an initial purchase order from space exploration companies for enhanced battery safety testing solutions, using the Company's KULR ONE Design Solutions platform. The proprietary K1-DS platform incorporates the most comprehensive design and testing methodology for battery safety that includes: Internal Short Circuit technology, Fractional Thermal Runaway Calorimetry ("FTRC"), fire calorimetry, and impingement zone mapping, performing a comprehensive cell level characterization of the thermal runaway behavior of the Customer's cells. Though specific terms of the contract remain confidential, the Customer has publicly forecasted a substantial ramp-up in its planned space missions as it continues to scale its satellite deployment throughout 2024.

K1-DS integrates KULR's deep knowledge and experience in the most challenging environments, such as spaceflight with NASA, which requires what KULR considers the most stringent battery solutions platform globally. The Company is intensely focused on expanding customer engagements within the space exploration market with its K1-DS platform solution and expects further design wins to continue well into next year. Earlier this month, KULR was awarded a critical contract for the accelerated development, testing, and production of a space battery for a prominent privately help hardware and in-space services company.

That engagement is anticipated to grow into a multi-million-dollar partnership for expanded production in 2024.