Over 220 years ago, Italian physicist Alessandro Volta stacked discs of copper and zinc with cloth soaked in salty water in between and, voila, the world had its first genuine battery. This was around the time when animal labor was being replaced by steam power, so Volta certainly never envisioned the ubiquitous nature of batteries today, much less rechargeable versions used to explore Mars and power cars and drones. The battery market is constantly evolving and KULR Technology Group Inc. (NYSE American: KULR) is at the forefront, developing next-generation lithium-ion battery safety and thermal management technologies.
The San Diego-based company has worked with NASA and leading aerospace companies like Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) for years, developing a portfolio of carbon fiber-based products that solve problems across the life cycle of Li-ion batteries, including fire and thermal runaway prevention, heat dissipation, storage, and shipping, and more. NASA has contracted KULR dozens of times for missions, including those to the International Space Station and the current Mars exploration project.
Late in 2019, KULR transitioned its model to commercialize its products outside the aerospace markets. Not only are there countless applications where the carbon fiber products can replace existing inferior products, moving to the commercial markets affords KULR the chance to market its battery intelligence and cell analytics software and services.
Uptake has been steady, with deals reported related to auto racing with the Andretti group, safely shipping Li-ion batteries in products for some of the world’s biggest retailers and protecting batteries in the $1.3 million Drako GTE supercar. KULR management has also conveyed that they are in negotiations with a variety of Tier 1 companies interested in opportunities to incorporate KULR’s space-proven technology into their battery-powered products.
Last week, the company announced the inaugural KULR Battery Solutions Day, which will give shareholders, the public and potential customers a closer look at the KULR suite of products. The virtual event will be held on Tuesday, September 21, from 1 - 2:30 PM EDT.
In addition to its own tech, KULR will feature customer demonstrations during the event. Investors will be watching this summer for announcements from KULR customers about demonstrations ranging from energy storage solutions to drone battery packs to battery recycling. A panel of KULR executives is scheduled to host a Q&A session also.
KULR CEO Michael Mo described the event as a great time to discuss new product launches and "geek out with shareholders on the technology part of our business." Anyone that has not listened to Mo before is encouraged to check out a recent fireside chat the KULR chief had with Water Tower Research; his passion for technology and his company is always on full display.
