On May 29, 2024, KULR Technology Group, Inc., a sustainable energy management company, announced securing a contract with a leading Japanese multinational automaker for the testing and analysis of high-energy battery cells for next-generation electric vehicles. The contract is expected to generate annual revenues of $8 million to $10 million starting in 2025. KULR will employ its proprietary KULR ONE Design Solutions platform, leveraging its spaceflight expertise and rigorous testing protocols, including Fractional Thermal Runaway Calorimetry, to ensure battery safety. The company anticipates that the demand for its design services, especially from the automotive sector, will be a significant source of high-margin, recurring revenue. This development aligns with the global shift towards electric vehicles, which are projected to make up 35% of new vehicle sales by 2030 according to the International Energy Agency.

On May 29, 2024, KULR Technology Group, Inc., a sustainable energy management company, announced securing a contract with a leading Japanese multinational automaker for the testing and analysis of high-energy battery cells for next-generation electric vehicles. The contract is expected to generate annual revenues of $8 million to $10 million starting in 2025. KULR will employ its proprietary KULR ONE Design Solutions platform, leveraging its spaceflight expertise and rigorous testing protocols, including Fractional Thermal Runaway Calorimetry, to ensure battery safety. The company anticipates that the demand for its design services, especially from the automotive sector, will be a significant source of high-margin, recurring revenue. This development aligns with the global shift towards electric vehicles, which are projected to make up 35% of new vehicle sales by 2030 according to the International Energy Agency.