KULR Technology Group Inc (OTCQB:KULR) said Wednesday it has commenced work on helping establish updated industry safety standards for lithium battery packaging used to ship batteries commercially.
The company in April struck a partnership with Hazmat Safety Consulting, an organization with over 60 years of combined experience in developing, influencing, and interpreting lithium battery safety regulations for the safe transport of lithium batteries.
KULR is this week participating in meetings of the United Nations Transport of Dangerous Goods Sub-Committee Informal Working Group to establish test methods and criteria by which lithium batteries can be more effectively regulated based on their inherent hazards. The California-based company said it will also present to a subcommittee of the Transportation Research Board on the Prevention of Thermal Runaway Propagation in Lithium Batteries.
KULR’s passive propagation resistant (PPR) design solutions prevent dangerous cell-to-cell thermal runaway propagation (rapid jump in temperature). Its PPR solutions were recently adopted by NASA for use in future space missions.
Lithium battery fires - such as the incidents that destroyed a UPS plane in 2010 and a FedEx truck in 2016 - have increasingly become a public safety concern.
US government wants stricter standards
KULR noted that the National Transportation Safety Board (NTSB) has called for stricter testing and shipping standards for lithium batteries and submitted safety recommendations to the Pipeline and Hazardous Materials Safety Administration (PHMSA), a division of the Department of Transportation responsible for developing and enforcing safety regulations for the transport of hazardous materials.
“Our PPR technologies are world-class solutions for preventing dangerous battery fires, and we share the NTSB’s, concerns about current safety standards,” KULR CEO Michael Mo said in a statement. “Requiring that lithium batteries be shipped in packaging capable of preventing thermal runaway propagation makes logical sense and should be taken into serious consideration by the PHMSA.”
According to Verified Market Research, the global lithium-ion battery market was valued at $36.35 billion in 2019 and is projected to reach $115.98 billion by 2027.
Last year, NASA used the KULR’s PPR technology to safely transport to and store lithium batteries aboard the International Space Station as well as collaborated with KULR on NASA’s high-voltage battery safety guide. Earlier this year, KULR licensed its technologies to Americase, which provides the world’s most widely used return packaging solution for damaged, defective, or recalled batteries.
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