Upgraded DoT Special Permit Authorizes KULR to Include Transportation of Reused, Refurbished, and Retrofitted Batteries
SAN DIEGO / GLOBENEWSWIRE / September 30, 2021 / KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, announced that the U.S. Department of Transportation (“DoT”) authorized a modification to its existing DoT Special Permit (SP21139) to now include the transportation of reused, refurbished, and retrofitted lithium-ion and metal batteries for recycling. KULR’s upgraded special permit significantly reduces administrative requirements for both existing and potential customers by streamlining real-time operations, which provide substantial cost and time savings.
The authorized modification ensures the Company’s KULR-Tech Safe Case addresses batteries of any condition: new, used, recycled, refurbished, reused, prototyped or DDR (damaged, defective, or recalled). The special permit provides exceptions from shipping papers and employee training when shipping lithium batteries up to 2.1 kilowatt-hours (“kWh”). The permit also authorizes the exceptions based on using KULR’s specially designed thermally protective packaging which incorporates the Company’s patented thermal runaway shield (“TRS”) technology.
“As we’ve seen with the largest automotive manufacturers making strategic investments in battery recycling as well as the recent spate of battery recycling IPO’s, the market is starting to recognize the importance of this matter in the circular economy, which is expected to grow to $21 billion by 2025,” said KULR COO Keith Cochran. “With KULR’s space-proven, patent-pending technologies and DoT special permits in place, we are well positioned to be the leading provider of battery storage and transportation solutions that services the largest OEM’s and service providers in the industry.”
The authorized expansion of permit SP21139 was awarded on September 24th, 2021.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: 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 space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, 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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