KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, is pleased to announce today the latest purchase order from the National Aeronautics and Space Administration ("NASA"), an independent agency of the U.S. federal government, as part of a multi-phase agreement for its advanced automated battery cell screening system. This recent procurement involves the assessment of 10,000 LG Chem Lithium-Ion INR18650 M36T cells.
According to Straits Research, the global battery cell testing market was valued at USD 5 billion in 2021 and is anticipated to reach USD 7 billion by 2030. The market is projected to grow at a CAGR of 4% during the forecast period (2022–2030).
In collaboration with NASA, KULR specializes in the evaluation of battery cells vital for manned space missions. Due to increasing demand, the company plans to expand its technology to support 21700 cells, with functionality expected by the end of the current year. This enhancement will amplify the safety, dependability, and efficacy of cells for a broader array of mission-critical applications.
KULR's modular screening technology allows for easy scalability to meet evolving market needs. This project signifies another key development in the strategic partnership between KULR and NASA, reinforcing KULR's role as a crucial player in aerospace energy management and battery safety.
As the push for electrification and sustainable energy intensifies, the KULR team believes that it is optimally positioned to capitalize on emerging opportunities. This endeavor has also paved the way for further collaborative efforts within the sector, focused on advancing battery design and safety measures.