KULR Technology Group Inc (OTCQB:KULR) has entered a legally binding memorandum of understanding (MOU) with a global electronics component and battery manufacturer, that supplies components for the Apple iPhone and other smartphones.
The parties plan to pursue business relationships building internal short circuit (ISC) battery testing technology and for KULR to license its passive propagation resistant thermal runaway shield (TRS) technology to its new partner in a commercial phase.
"We are proud to work with a leading innovator, whose technology is trusted by globally recognized brands,” KULR CEO Michael Mo said in a statement. “Through this partnership, we will share our breakthrough ISC and TRS technologies to make our partner's batteries safer and more efficient for both commercial and consumer application. Our partner's reputation in the world of rechargeable batteries is unparalleled, and we look forward to advancing its research into battery reliability and safety."
READ: KULR Technology supplies its internal short circuit battery safety and testing device technology to the Federal Aviation Administration
Under the agreement, KULR will provide its ISC devices for making ISC trigger cells based on its partner's battery portfolio. KULR will also license its passive propagation resistant (PPR) technology portfolio and intellectual property to the partner in order to help build and modify the TRS technology for the partner's battery applications, which include energy storage, electric mobility, consumer electronics and mobile devices among others.
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.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel