KULR Technology begins phase 2 of battery safety testing for

SAN DIEGO, Oct. 25, 2022 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading energy management platform accelerating the electrification of the circular economy, has begun Phase 2 development of its Passive Propagation Resistant (“PPR”) battery systems for Lockheed Martin Corporation (NYSE :LMT) (“Lockheed”). Following a successful Phase 1 study in November 2021, Phase 2 testing began in Summer 2022 utilizing KULR’s recently implemented bomb calorimeter and leveraging the Company’s technological advances in PPR energy products for its Advanced Energy Systems.

A bomb calorimeter measures the total heat generated in a given reaction. The data collected with KULR’s bomb calorimeter can be used in combination with additional information collected from ongoing experiments in the company’s Fractional Thermal Runaway Calorimeter (“FTRC”), licensed from NASA, for similar cell types. The FTRC helps determine both the total amount of heat generated and the proportion of heat contained in the sputum compared to that stored in the cell body. These collated data points are critical to making cell selection decisions and designing battery systems that are resilient to the unique cell-level thermal runaway response.

The versatile FTRC not only serves NASA and defense contractors, but also offers significant value for commercial-oriented companies looking to develop better battery pack and battery management system (“BMS”) designs.

“Lockheed Martin is a valued customer of KULR and we are encouraged to jointly embark on Phase 2 development of our PPR energy products for their Advanced Energy Systems,” said Dr. William Walker, Director of Engineering at KULR. “We are confident that our state-of-the-art technological capabilities will meet their needs and result in a continued, long-term partnership with one of the world’s leading aerospace, defence, defense, information security and technology companies.”

KULR has developed a variety of products to enhance the performance of Aerospace and Department of Defense (“DoD”) technologies and continues to research new and innovative thermal management and power solutions.

About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform that offers proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation for designing, manufacturing and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable efficient and sustainable operations for its customers across all disciplines. For more information, visit https://www.kulrtechnology.com/

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This press release constitutes neither an offer to sell nor a solicitation of an offer to buy securities of any company. This press release contains certain forward-looking statements that are based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this press release are based on information available to us as of the date of this release. Our actual results could differ as a result of risks and uncertainties associated with our business, which are discussed in our Form 10-K dated April 28, 2022. Forward-looking statements include statements about our expectations, beliefs, intentions or strategies regarding the future and can be recognized by forward-looking words such as “anticipate”, “believe”, “could”, “estimate”, “”. expect”, “intend”, “may”, “should” and “would” or similar words. Any projections made by management in this press release are based on information currently available and management believes internal projections and expectations are subject to change over time. In addition, the projections are based entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and discussions with new and existing customers about our products and services. We assume no obligation to update the information contained in this press release, whether as a result of new information, future events or otherwise.

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