EXCLUSIVE: KULR Technology Partners with Forge Nano for Advanced Battery Solutions

KULR Technology Group, Inc KULR inked a Memorandum of Understanding (MOU) with Forge Nano, a global player in precision nano-coating technology. 

What Happened? The strategic partnership, initially estimated at a $3.5 million - $5 million revenue opportunity, will combine KULR ONE Design Solutions offerings that include cell characterization and advanced automated battery cell screening capabilities with Forge Nano's proprietary Atomic Layer Deposition (ALD) coating process, tactically deploying the respective companies' breakthroughs to OEM partners' batteries with unmatched safety and efficiency.

Why Does It Matter? The partnership will start with the assessment of Forge Nano's premium battery cells for space and U.S. Department of Defense (DoD) applications employing KULR's automated cell screening to measure voltage, temperature, and impedance of individual battery cells, analyzing the data to identify potential issues and optimizing battery cell performance compliant within the strict NASA flight specification EP-WI-037 crucial for ensuring safety and reliability. 

Last month, KULR announced it had secured a third order for automated battery cell screening services from NASA. 

The company's modular screening technology allows for ease of scalability, as will be required for the upcoming partnership as the volume of screened cells increases.

Recently, the U.S. Department of Energy announced it intends to make a second round of funding available to support U.S. battery production and recycling. 

The announcement of this additional $3 billion in Bipartisan Infrastructure Law funding is welcome news to American businesses seeking to produce North American–made batteries. KULR believes this partnership is well-positioned to ensure that the U.S.-based battery production value chain redefines industry standards in battery safety and performance. 

Earlier this year, Forge Nano raised $50 million to build battery production lines to meet growing demand. 

The Colorado-based company has raised over $95 million, supporting the buildout of a new 1 GWh (gigawatt-hour) battery production line to satisfy increased demand for its premium battery cells.

Price Action: KULR shares closed higher by 1.08% at $0.46 on Monday.