Summary by Moomoo AI
On March 26, 2024, KULR Technology Group, Inc., a sustainable energy management company, announced securing a contract from Lockheed Martin for the development of phase change material (PCM) heat sinks, designed to regulate the temperature of electronics in long-range precision missiles. This contract follows a series of successful evaluations of KULR's cooling solutions for critical onboard systems. KULR's PCM heat sinks are recognized for their efficiency, lightweight, and durability, which are essential for the high-performance demands of missile electronics. The partnership with Lockheed Martin highlights KULR's expertise in thermal management technology, which is crucial for the reliability of defense and aerospace applications. The company's VP of Sales and Marketing, Ted Krupp, expressed pride in the collaboration, emphasizing the importance of KULR's role in addressing thermal challenges in precision-guided weaponry. The global electronic warfare market is expected to grow significantly, with KULR positioned as a key player in the industry.