CAMPBELL, Calif., Feb. 24, 2020 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of battery safety and thermal management technologies, announced today a passive propagation resistant (PPR) battery design solution for lithium ion battery safety, which is critical for the global lithium ion battery market. KULR’s PPR design solution provides the following key features that prevents cell to cell thermal runaway propagation and prevents the fire and explosion of a single cell thermal runaway from exiting the battery enclosure.
KULR currently works with NASA’s Marshall Space Center and NASA’s Ames Research Center on the PPR CubeSat battery design to meet the JSC 20793 Revision D safety standard created by NASA for a crewed space mission. Also, KULR’s HYDRA thermal runaway shield technology was recently deployed to the International Space Station to store laptop batteries and also is currently being tested by a Tier-1 medical device maker, an electric aircraft maker and others. The Company looks forward to providing important news about product development partnerships throughout 2020.
The PPR design is an integrated solution that combines KULR’s HYDRA thermal runaway shield, KULR’s LYRA internal short circuit testing methodology, and NASA’s Fractional Thermal Runaway Calorimeter cell analysis technology to provide total battery safety. KULR’s HYDRA thermal runaway shield has been proven by various government testing authorities to stop or mitigate the impacts of dangerous lithium-ion battery failures known as thermal runaway.
“Battery safety is crucial in aerospace settings like those being built by and for NASA,” said Michael Mo, CEO of KULR Technology. “The PPR solution developed by KULR may be the best possible defense against thermal runaway propagation which explains NASA’s interest in our technology.”
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.
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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.
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