KULR Gains on Korean Contract
KULR Technology Group, Inc. (NYSE: KULR) shares added strength Tuesday. The company, purporting to be a global leader in sustainable energy management, today announced it has been awarded an initial contract valued close to $1M, with additional options bringing total contract value up to $1.5M, to supply 20793-rated battery systems to South Korea’s Nara Space (NARA) for their CubeSat mission aboard Artemis II. This project is part of a larger collaboration involving the Korea Astronomy and Space Science Institute (KASI) and the National Aeronautics and Space Administration (NASA), where Nara Space is providing the CubeSat to KASI, as part of the Artemis program.
This award highlights KULR’s growing influence in the aerospace sector and reinforces its position as a trusted partner in developing cutting-edge energy solutions for space applications. Recent analysis by Pro Market Reports projects the Space Battery Market to reach $25.14 billion U.S. by 2032.
“KULR’s successful delivery of a 20793-rated battery to NARA in record time,” to quote this morning’s news release, “marks a significant milestone in our battery design service initiatives. This achievement reflects the Company’s strategic investment in offering a comprehensive suite of design services, including cell selection and screening, thermal modeling, passive propagation-resistant design, and multi-fault tolerant strategies tailored for space and defense applications. Leveraging the KULR ONE Space (K1S) architecture, we are able to facilitate an expedited four-month turnaround for NARA to receive a fully 20793-compliant system.”
KULR acquired one cent, or 5.2%, to 25 cents.
