EXCLUSIVE: KULR Secures Over $1M Contract from H55 for Proprietary, Patented Thermal Runaway Shield Technology
Portfolio Pulse from Akanksha Bakshi
KULR Technology Group, Inc. (NYSE:KULR) has secured a contract worth over $1 million from H55 Inc. for its Thermal Runaway Shield (TRS) technology, aimed at enhancing safety in electric propulsion systems (EPS). The technology will be used in systems for major firms like Pratt & Whitney and CAE Inc. (NYSE:CAE), meeting EASA's safety standards. The deal marks a significant step in electric aviation safety, with KULR's shares closing up 7.89% at $0.41.
April 02, 2024 | 12:16 pm
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POSITIVE IMPACT
KULR Technology Group, Inc. secures a significant contract with H55 for its Thermal Runaway Shield technology, indicating a strong market demand and potential growth in the electric aviation sector.
The contract with H55 not only provides immediate revenue over $1 million but also positions KULR as a key player in the electric aviation safety market. The positive market reaction, reflected in a 7.89% share price increase, suggests investor confidence in KULR's growth trajectory and its technology's market potential.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
CAE Inc. is indirectly involved through the use of KULR's Thermal Runaway Shield in propulsion systems developed by H55, potentially benefiting from enhanced safety standards.
While CAE Inc. is not directly involved in the contract between KULR and H55, the use of KULR's technology in propulsion systems for firms like CAE suggests a potential indirect benefit from improved safety standards. However, the immediate financial impact on CAE is not clear from the information provided.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50