KULR Secures Follow-On $2.68 Million Contract as Exclusive Supplier of Fail-Safe Battery Safety Solutions for Industrial Scale Energy Storage System Manufacturer

SAN DIEGO, Feb. 28, 2023 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading energy management platform company accelerating the global transition to a sustainable electrification economy, today announced it secured a $2.68 million follow-on contract as the exclusive supplier of its patented and proprietary fail-safe Passive Propagation Resistant (“PPR”) battery solutions for a stationary and mobile lithium-ion battery power system manufacturer (the “Customer”). After extensive design and testing efforts, this order represents KULR’s single largest PPR deployment order in a stationary or mobile energy product to date. This is a follow-on order as the Customer prepares to scale towards the full automation of its battery assembly operations, whilst KULR expands its automated PPR component manufacturing in North America.

Read more at globenewswire.com