Wall Street Signals: KULR Technology Group Announces Issuance of U.S. Patent Covering Risk Minimization of Fires and Explosions in Lithium-Ion Battery Packs

KULR Technology Group Announces Issuance of U.S. Patent Covering Risk Minimization of Fires and Explosions in Lithium-Ion Battery Packs

 

Issuance of United States Patent Number 11018397 Further Bolsters Intellectual Patent Portfolio

 KULR Technology Group Inc. (OTCQB: KULR) (the "Company" or "KULR"), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, announced today the United States Patent and Trademark Office has awarded it a patent on its Thermal Runaway Shield (TRS) - a passive propagation resistant solution designed and successfully tested to reduce the hazardous risks associated with the thermal runaway in lithium-ion battery packs. This is the third patent the Company has been granted on its TRS technology.

The Company's TRS is a sleeve-like shield that surrounds and separates individual cells in multi-cell packs and contains the carbon-fiber core and liquid coolant. The unique combination and configuration of the shield passively draw intense heat of cell failures away from nearby cells while dousing the failed area in a cooling and fire-prevention liquid. The TRS product is used by NASA to transport to and store batteries aboard the International Space Station.

"Securing this patent is the continuation of our progress in making batteries safer," said Dr. Timothy Knowles, co-founder and Chief Technology Officer of KULR. "We are extremely proud of the development of our patent portfolio. This new issuance expands the comprehensiveness of our battery safety technology covering disastrous battery failures."

The KULR team brings technologies and multi-decades of experience capable of solving today's problems in thermal management. In October 2020 the Consumer Product Safety Commission reported KULR's design solutions could stop fires and explosions in lithium-ion battery packs and provided additional insights on the future of safe battery technology.

"Battery safety is a global concern across many large and rapidly growing markets such as electric vehicles, battery storage, 5G infrastructure, drone delivery, and space exploration," said Michael Mo, CEO of KULR. "We continue to work with government agencies, regulators, and commercial customers across the world to deploy our technology."

The patent, issued as #11018397, was awarded on May 25th, 2021.

About KULR Technology Group Inc.

KULR Technology Group Inc. (OTCQB: 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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