• Wed. May 29th, 2024

KULR Technology’s Energy Management Company Sees Significant Stock Surge

Byeditor

Mar 26, 2024

KULR Technology Group, Inc. (NYSE:KULR) shares have seen a significant increase after securing a substantial six-figure contract from Lockheed Martin Corporation (NYSE:LMT). Under the terms of the contract, KULR will develop phase change material (PCM) heat sinks that are crucial for regulating the temperature of essential electronics in long-range precision missiles.

The award of this contract comes after a series of successful evaluations that demonstrated the effectiveness of KULR’s solutions in cooling critical onboard systems. This contract further highlights KULR’s reputation as a provider of innovative cooling solutions.

Ted Krupp, KULR’s VP of Sales and Marketing, expressed, “Our partnership with Lockheed Martin confirms our commitment to excellence and innovation in addressing high-stakes thermal challenges. Our work is essential for improving the capabilities of precision-guided weaponry.” In December, KULR also announced securing an initial purchase order from one of the largest privately held space exploration companies in the world.

At the last check on Tuesday, KULR shares were up 21.4% at $0.3947. This recent success has propelled the company forward in its mission to provide cutting-edge thermal solutions to key players in the aerospace and defense industries.

By editor

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