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$KULR Receives Three-Year Multi-Million Dollar Battery Safety Deployment Order from Volta Energy Products
KULR Supplies Passive Propagation Resistant Solution to Viridi Parente’s Volta Energy Products for KULR’s First Commercial Deployment in Stationary and Mobile Battery Power Systems

SAN DIEGO and BUFFALO, N.Y., Dec. 15, 2021 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced receipt of a three-year multi-million dollar deployment order for its Passive Propagation Resistant (“PPR”) solution suite from Volta Energy Products (“Volta”), a subsidiary of Viridi Parente, Inc. (“Viridi”). The PPR solution will be used for Volta’s stationary and certain mobile lithium-ion battery power systems.

The initial deployment order totals approximately $1.6 million for immediate delivery with higher volume shipments expected throughout 2022 for KULR's PPR solution, which includes the patented thermal runaway shield (“TRS”) product. After more than 18 months of joint design and testing efforts, KULR’s PPR solution will support Volta’s commercialization of proprietary battery architecture for energy storage systems. This order represents KULR’s first PPR order of commercial deployment in a stationary energy storage product.

“Safety is paramount in these applications and by pairing KULR’s space-proven technology with our proprietary architecture, we have designed the safest lithium-ion energy storage solution on the market,” said Viridi Parente CEO Jon M. Williams. “We also plan to incorporate KULR’s technology into other Volta stationary and certain mobile storage systems in order to capitalize on the added safety it will provide our customers.”

Michael Mo, CEO of KULR Technology Group added: “Volta’s depth of technology experience and innovative approach to the market makes them an outstanding partner for us. Our thermal solutions for their products were based on similar designs we provided to customers such as NASA and Lockheed Martin, and therefore provides Volta with space-grade thermal management architecture for stationary and mobile energy storage applications. Our partnership marks only the first step in commercializing KULR’s suite of thermal solutions for the rapidly growing commercial and residential battery storage market.”

https://finance.yahoo.com/news/kulr-receives-three-multi-million-114500897.html