KULR - KULR to Develop Advanced Thermal Management for Aerospace Applications; Multi-Year Contract Worth Between $6 Million to $7 Million | Benzinga
SAN DIEGO, Nov. 16, 2023 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced an initial engagement with a Tier-1 aerospace and defense manufacturer ("Tier-1 Manufacturer"). The contract, with a revenue potential of between $6 million to $7 million over multiple years, involves the development of a Phase Change Material Module ("PCMM") designed to ensure thermal stability for critical components used in space environments.
KULR's proprietary PCMM will be a key element in the broader program, serving to maintain precise temperature control under the extreme conditions of space operations. A prototype unit will be developed first, enabling the Tier-1 Manufacturer to conduct thorough performance evaluations in preparation for the subsequent flight units.
"This new venture is a landmark achievement for us at KULR," said Michael Mo, CEO and Co-Founder of KULR Technology Group. "It's a natural synergy, aligning the customer's needs with our specialized thermal management solutions. While this is our first ...