$KULR Technology Provides Thermal Management Design Services to Global Aerospace and Defense Manufacturer
SAN DIEGO, Jan. 07, 2021 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of battery safety and thermal management technologies, today announces it has provided thermal management design services to a global Tier-1 manufacturer of aerospace and defense technology to improve thermal subsystems needed for increased performance of hypersonic weapons.
A Congressional Research Services report in December 2020 shows that the Pentagon's FY2021 budget request for all hypersonic-related research is $3.2 billion, up from $2.6 billion in the prior year’s request. Hypersonic strike systems are valued for their unique war-fighting aspects of range, speed, maneuverability, survivability and lethality, according to Mike E. White, the assistant director of hypersonics, Office of the Undersecretary of Defense for Research and Engineering. These features make the development of - and investment in - improved hypersonic systems a priority for the Department of Defense.
“As the national need for long-range airborne vehicles grows, and commercial demonstrations like Space X continue to show the viability of reusable space and sub-orbital vehicles, active and passive heat management become increasingly critical elements to mission success,” says Dave Harden, founder and CEO of The Outpost and KULR advisory board member. “KULR’s closed loop core cooling technology, along with its problem-solving team, are rapidly establishing themselves as essential building blocks for hypersonics, space vehicles, long range stand-off weapons and long loiter drones.”
KULR's advanced phase-change heatsink design services will assist the manufacturer in the design of hypersonic weapons with longer range and larger kinetic power than existing systems, which are limited by their inability to disperse heat. The ability to keep inner bay components cool within extremely hot outer skin environments – while maintaining highest safety levels - is essential to mission success and market dominance.
“Efficient thermal management is a critical component of hypersonic weapons,” said Michael Carpenter, KULR’s vice president of Engineering. “Our engineers have already designed and built the evaporative cooling device for the DAQ and transmitter modules in the nose of the X-51 Waverider, and from this project we amassed a lot of technical insight. Using this knowledge, it is fairly straight-forward for us to adapt our technology to serve the needs of next-generation hypersonic weapons.”
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 space missions, and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure and electric vehicle (EV) manufacturers to make their products cooler, lighter and safer for consumers. For more information, please visit www.KULRtechnology.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 Form 10-K filed with the Securities and Exchange Commission on May 14, 2020. 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. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
Derek.Newton@KULRtechnology.com
Investor Relations:
KULR Technology Group, Inc.
Main: (888) 367-5559
IR@KULRtechnology.com
SAN DIEGO, Jan. 07, 2021 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of battery safety and thermal management technologies, today announces it has provided thermal management design services to a global Tier-1 manufacturer of aerospace and defense technology to improve thermal subsystems needed for increased performance of hypersonic weapons.
A Congressional Research Services report in December 2020 shows that the Pentagon's FY2021 budget request for all hypersonic-related research is $3.2 billion, up from $2.6 billion in the prior year’s request. Hypersonic strike systems are valued for their unique war-fighting aspects of range, speed, maneuverability, survivability and lethality, according to Mike E. White, the assistant director of hypersonics, Office of the Undersecretary of Defense for Research and Engineering. These features make the development of - and investment in - improved hypersonic systems a priority for the Department of Defense.
“As the national need for long-range airborne vehicles grows, and commercial demonstrations like Space X continue to show the viability of reusable space and sub-orbital vehicles, active and passive heat management become increasingly critical elements to mission success,” says Dave Harden, founder and CEO of The Outpost and KULR advisory board member. “KULR’s closed loop core cooling technology, along with its problem-solving team, are rapidly establishing themselves as essential building blocks for hypersonics, space vehicles, long range stand-off weapons and long loiter drones.”
KULR's advanced phase-change heatsink design services will assist the manufacturer in the design of hypersonic weapons with longer range and larger kinetic power than existing systems, which are limited by their inability to disperse heat. The ability to keep inner bay components cool within extremely hot outer skin environments – while maintaining highest safety levels - is essential to mission success and market dominance.
“Efficient thermal management is a critical component of hypersonic weapons,” said Michael Carpenter, KULR’s vice president of Engineering. “Our engineers have already designed and built the evaporative cooling device for the DAQ and transmitter modules in the nose of the X-51 Waverider, and from this project we amassed a lot of technical insight. Using this knowledge, it is fairly straight-forward for us to adapt our technology to serve the needs of next-generation hypersonic weapons.”
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 space missions, and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure and electric vehicle (EV) manufacturers to make their products cooler, lighter and safer for consumers. For more information, please visit www.KULRtechnology.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 Form 10-K filed with the Securities and Exchange Commission on May 14, 2020. 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. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
Derek.Newton@KULRtechnology.com
Investor Relations:
KULR Technology Group, Inc.
Main: (888) 367-5559
IR@KULRtechnology.com
