CAMPBELL, Calif., March 11, 2019 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (OTCQB: KUTG), (the “Company” or “KULR”), today announced that it will provide its internal short circuit (ISC) battery testing device to battery manufacturer Saft, a Total Company (NYSE: TOT), for ongoing research into battery safety.
The ISC was developed in 2015 by researchers at the National Renewable Energy Lab (NREL) and NASA and reliably creates failures in lithium-ion battery cells in controlled, laboratory conditions. The failures triggered by the ISC replicate cell failures that, although rare, can happen in a wide variety of commercial and consumer battery uses. By replicating cell failures, designers and researchers can study methods and systems to reduce battery failures as well as design systems to mitigate their consequences.
As the exclusive provider of the ISC, KULR will deliver ISC devices beginning in Q2 of 2019. Further details of the arrangement were not released but company leaders highlighted the importance of this agreement and possible advancements of battery safety.
“We are very proud to be working with leaders at NASA and NREL in sharing the break-through ISC technology as part of our ongoing commitment to making safer and more efficient batteries,” said Michael Mo, CEO of KULR. “We’re also very excited to work with leading battery maker Saft in helping them advance their research into battery reliability and safety, which is work we know will pay off for their customers and partners.”
“Saft is committed to making the safest and most reliable batteries as we possibly can,” said Dr. Kamen Nechev, Chief Technology Officer of Saft. “Our team will continue to design, test, and innovate with the singular goal of providing the best battery solutions to our customers.”
The ISC replicates latent defects in batteries which can be some of the most common, serious, and hardest cell failures to detect. Unfortunately other lithium-ion cell testing methods such as mechanical (crush, nail penetration), thermal (heat to vent, thermal cycling) and electrical (overcharge, off-limits cycling) are all simply “not relevant to the latent-defect–induced field failure,” according to a 2015 NASA and NREL presentation. The ISC break-through received the prestigious R&D100 Award in 2016 and was the runner-up NASA invention of the year in 2017.
Saft, headquartered in France, is a leading global battery manufacturer with more than 3,000 customers in 18 countries.
About KULR Technology Group, Inc.
KULR Technology Group, Inc., through its wholly-owned subsidiary KULR Technology Corporation (“KULR”), develops and commercializes high-performance space-used thermal management technologies for electronics, batteries, and other components across an array of applications such as electric vehicles and autonomous driving (collectively as E-Mobility), AI/Cloud computing, energy storage, and 5G communication technologies. KULR’s proprietary, core technology is a carbon fiber material with roots in aerospace and defense that provides superior thermal conductivity and heat dissipation in an ultra-lightweight and pliable material. By leveraging this break-through cooling solution and its longstanding development partnerships with NASA, the Jet Propulsion Lab and others, KULR makes E-Mobility and other products safer and cooler. https://www.kulrtechnology.com
About Saft:
Saft specializes in advanced technology battery solutions for industry, from the design and development to the production, customization and service provision. For 100 years, Saft’s longer-lasting batteries and systems have provided critical safety applications, back-up power and propulsion for our customers. Our innovative, safe and reliable technology delivers high performance on land, at sea, in the air and in space. Saft is powering industry and smarter cities, while providing critical back-up functionality in remote and harsh environments from the Arctic Circle to the Sahara Desert. Saft is a wholly-owned subsidiary of Total, a leading international oil and gas company and a major player in low-carbon energies.
We energize the world. www.saftbatteries.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 April 17, 2018. 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.
KULR Technology Group, Inc.
Contact: Derek Newton, Head Media Relations
(786) 499-8998
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