Industry Leading Vehicle Research Organization to Implement KULR's Advanced Battery Testing Device to Improve the Safety of Electric Vehicles
CAMPBELL, CA / ACCESSWIRE / July 8, 2019 / KULR Technology Group, Inc. (OTCQB: KUTG) (the "Company" or "KULR"), a leading developer of next-generation thermal management technologies, has partnered with Centre de Technologies Avancées BRP-UdeS (CTA), a leading Quebec-based vehicle research organization, to provide its LYRA internal short circuit (ISC) battery testing device. The CTA plans to leverage KULR's technology to enhance its ongoing research into the safety of electric vehicle battery systems for its tier-1 OEM clients. Due to the confidential nature of this contract, exact terms were not disclosed.
The LYRA ISC testing device, utilizing proprietary technology exclusively licensed to KULR by the National Renewable Energy Laboratory (NREL) and NASA, creates failures in lithium-ion battery cells in controlled laboratory conditions, uniquely enabling designers and researchers to study methods to reduce failures and design systems to mitigate their consequences.
The failures triggered by the LYRA ISC replicate cell failure defects in batteries, which can be some of the most common, serious, and difficult cell failures to detect using traditional battery testing methods, presenting risks to a wide variety of commercial and consumer battery applications. The LYRA ISC received the prestigious R&D100 Award in 2016 and was the runner-up NASA Invention of the Year in 2017.
"We are truly excited to collaborate with the CTA team to advance their electric vehicle research and engineering efforts. We expect our collaboration will provide the CTA with the necessary tools to further designs for their tier-1 partners, while steering them towards better, safer thermal management solutions," said Michael Mo, Chief Executive Officer of KULR Technology Group. "We've made a concerted effort towards making our LYRA ISC devices more widely available, allowing OEMs to better understand the risks associated with their current battery safety systems. As a next step, we are also working towards establishing a comprehensive battery design and testing methodology, which will be based on our robust portfolio of battery safety technologies."
"As an established leader in next-generation vehicle research efforts, CTA is pleased to work with the incredible team at KULR to characterize and test our energy storage designs in ways not previously possible," said Éric Ménard, Electric Programme Manager at CTA. "We look forward to leveraging the LYRA ISC technology to better understand and improve the behaviors of our electric vehicle innovations."
About Centre de Technologies Avancées BRP-UdeS
The Centre de technologies avancées BRP - Université de Sherbrooke (CTA) is a non-profit organization combining university-based applied research with experienced industry professionals to develop vehicles and their components in the following 5 fields: Electrification, Lightweighting, Mechatronics. Noise and Vibration Harshness (NVH) and Connectivity. It uses a methodology that aims at reducing development time, resources and cost for its clients, in order to accelerate their time-to-market. Services range from engineering design to simulation, prototyping, cycling tests & characterization as well as data acquisition services. It is a unique environment, especially attractive for PhD and MSc candidates. https://cta-brp-udes.com
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB: KUTG) 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 deep space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics 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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This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our parent entity's Form 10-K filed on March 29, 2019. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Media Contact:
Derek Newton
Head, Media Relations
(786) 499-8998
derek.newton@kulrtechnology.com
Investor Relations:
Greg Falesnik
Managing Director
MZ Group - MZ North America
(949) 385-6449
greg.falesnik@mzgroup.us
www.mzgroup.us
SOURCE: KULR Technology Group, Inc.
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