SAN DIEGO - September 13, 2022 (Investorideas.com Newswire) KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leading developer of next-generation lithium-ion ("Li-ion") battery safety and thermal management technologies, announced that it has received approval from the Department of Transportation ("DoT") to increase the energy levels in three special permits from 2.1 kWh to 2.5 kWh, expanding usage for its SafeCase product. KULR will utilize the permit upgrades to support a recently-awarded project with one of the three largest outdoor rider landscaping companies in the world for the safe shipment and storage of Li-Ion batteries.
The permit approval restates the safety of KULR's SafeCase product for transportation and storage of Li-Ion batteries, and will enable the large landscaping equipment customer to safely transport its batteries for services or end of life ("EOL") on its new line of higher-capacity landscaping electric vehicles. In addition to this project, the permit upgrades are expected to generate expanded use cases for the SafeCase product with existing and new customers.
"The DoT's approval for additional energy levels is further evidence of the quality of KULR's SafeCase and our battery safety products that we produce from our holistic approach," said Jason Brandi, Director of Product Marketing at KULR. "The permit upgrade enables one of our key customers to transport and store high energy batteries safely in a sustainable and cost-effective manner, and we look forward to providing the same capability to our other customers alike."
With the signing of Assembly Bill No. 1346 in October 2021, California was the first state to prohibit the sale of gas-powered landscaping equipment. The legislation came following Governor Newsom's 2020 executive order prohibiting the sale of all gas-powered vehicles by 2035. The bill is expected to drive the growth of e-powered landscaping equipment, which is projected to hit USD 43.24 billion by 2029 and exhibit a CAGR of 5.3% during the forecast period.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.KULRTechnology.com.
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Tom Colton or Matt Glover
Gateway Investor Relations
Main: (949) 574-3860
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