KULR Technology Group Inc (OTCQB:KULR) and its partner in Japan could be the tip of the spear in the fight against the coronavirus (COVID-19) pandemic by keeping protective gear safe.
Campbell, California-based KULR Technology, which famously provided breakthrough cooling solutions for National Aeronautics and Space Administration (NASA) deep space missions, has now come up with a nifty personal protective equipment (PPE) decontamination device.
Not surprisingly, the breakthrough device has already evoked interest from the Air Force Medical Group and is likely to catch on with other wings of the US defense services.
“We have worked together with a Japanese partner to develop a PPE decontamination device with their non-toxic liquid solution and KULR’s engineering expertise in thermal and mechanical designs,” KULR Technology CEO Michael Mo told Proactive.
“We have received a Memorandum of Understanding from the Air Force Medical Group – they are very interested in our device,” he added.
The microwave-sized PPE decontamination device uses hypochlorous acid which is known to destroy viruses. Hypochlorous acid has been widely used as a germ killer in Asia for nearly five to six years, noted the company.
KULR Technology Group has submitted a contract and proposal to the US Air Force as well as to the Defense Logistics Agency. The group is also eyeing the large mainstream market for its PPE decontamination device.
“We have a history with NASA and defense customers to create cutting edge technology and then to commercialize those technologies to mass-market applications,” said Mo.
“We plan to leverage the development work that we’ve done on this product to introduce a consumer line of products later this year so that an average consumer can take a device like that home to be used in the car, or on the road to keep themselves clean,” he added.
KULR Technology Group was founded by some of the world’s top experts in energy, thermal management, semiconductor and industrial manufacturing. KULR’s custom-designed heat sinks and thermal management products are bound for two NASA Jet Propulsion Laboratory space missions — Mars and the Moon.
The group’s technology — its heat sink — will keep the laser and flashlights from getting too hot and corrupting the entire “Lunar Flashlight” mission of searching for signs of extra-terrestrial life. Similarly, for the Mars mission, a pair of KULR heat sinks are designed to accept 5400 joules of heat over an hour operating time while keeping the temperature of the spectrometer within design limits. All the components, including the KULR heat sinks, are expected to survive for at least one Mars year, which is approximately 687 days on Earth.
Long-standing ties with DoD and NASA
“We have been going back to our roots and working on a lot of government contracts,” the KULR Technology boss said, noting that the company has submitted proposals to the US Air Force and Defense Logistics Agency for their COVID-19 solution solicitations.
“The goal is to leverage our long-standing relationship with the US Department of Defense and NASA. Over the last 10 weeks, we’ve submitted 10 different proposals to different government agencies like NASA, the US Air Force, the US Army, and the US Department of Transportation,” said Mo.
“We are aggressively pursuing government contracts in the area of battery safety, thermal management, direct energy and some COVID-19 related activities,” he added.
Bringing battery safety technology
In April, KULR struck a new licensing agreement to allow Americase to exclusively utilize the group’s passive propagation resistant (PPR) technology and to source the core materials from KULR to produce its patent-pending Battery Bag to prevent lithium-ion battery thermal runaway during storage and transportation.
“Together, KULR and Americase are bringing the latest battery safety technology used by NASA on the International Space Station to broad commercial battery markets,” said Mo.
In 2019, NASA used KULR’s PPR solution to protect laptop computers onboard the International Space Station.
Well-funded to carry out innovations
Meanwhile, the leading developer of battery safety and thermal management technologies has secured financing from Yorkville Advisors for up to $8 million. Under the terms of the agreement, Yorkville has committed up to $8 million equity financing over a 24-month period in individual tranches of up to $100,000 each. In exchange for the funds, Yorkville will receive KULR shares at a price which will be determined each time a tranche is called.
“This capital investment is a show of confidence in our technology and capacity to commercialize our space-proven thermal management technologies in consumer-facing markets,” said Mo.
“The proceeds will help bolster the growing number of consumer-facing developmental projects we’re taking on, beyond our normal aerospace customer engagements," he added.
KULR technology grew its diversified customer base from 13 to 28 customers in 2019.
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.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive