KULR And United States Army Extend Previously Awarded Contract; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
KULR Technology Group has announced an extension to its previously awarded contract with the United States Army. The collaboration involves the development, testing, and analysis of next generation lithium-ion battery cells incorporating KULR's battery storage platform, KULR ONE Design Solutions. The development activities, which began in April 2023, are expected to continue through 2024. KULR recently also became the sole provider of an automated cell screening effort for NASA.
October 30, 2023 | 12:45 pm
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The extension of the contract with the US Army and the partnership with NASA could potentially boost KULR's reputation and increase its market share in the energy storage sector.
The extension of the contract with the US Army and the partnership with NASA are significant developments for KULR. These partnerships not only validate the company's technology but also provide it with a steady stream of revenue. This could potentially lead to an increase in the company's stock price in the short term.
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