KULR AND Forge Nano partners for enhanced Battery Safety and Performance

San Diego- KULR Technology Group, Inc. , a battery power solutions provider, announced that it has entered into a Memorandum of Understanding (MOU) with Forge Nano, a precision nanocoating technology company. By combining KULR ONE Design Solutions' cell characterization and advanced automated battery cell screening capabilities with Forge Nano's exclusive Atomic Layer Deposition (ALD) coating process, the partnership, which is initially estimated to present a $3.5 million to $5 million revenue opportunity, will tactically apply the respective companies' breakthroughs to OEM partners' batteries with unparalleled safety and efficiency.

This strategic alliance will begin with the evaluation of Forge Nano's premium battery cells for use in space and US Department of Defense (DoD) applications. This evaluation will use KULR's automated cell screening to measure the voltage, temperature, and impedance of individual battery cells, analyze the data to find any potential problems, and then optimize battery cell performance in accordance with the stringent NASA flight specification EP-WI-037, which is essential for ensuring safety and reliability. KULR said last month that NASA has given it a third order for automated battery cell screening services. As the volume of screened cells grows, the Company's modular screening technology makes it simple to scale up, which will be necessary for the impending cooperation.

The U.S. Department of Energy recently declared its intention to provide a second round of funds to assist domestic battery manufacturing and recycling. The Bipartisan Infrastructure Act's announcement of an additional $3 billion in funding is good news for American companies looking to manufacture batteries in the United States. According to KULR, this cooperation is in a good position to ensure that the value chain for US-based battery manufacture redefines industry norms for battery performance and safety.

Forge Nano raised $50 million earlier this year to expand its battery manufacturing facilities in order to keep up with rising demand. The Colorado-based company has secured more than $95 million to date, funding the construction of a new 1 GWh (gigawatt-hour) battery production line to meet rising demand for its high-end battery cells.