STOCK TITAN

KULR Adds United Parcel Service to its Battery Safety Shipping Platform, Forms Strategic Partnership with Safeware for Online Marketplace

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
partnership
Rhea-AI Summary

KULR Technology Group, a global leader in energy storage solutions, launches the KULR Online Marketplace featuring Safe-X products, approved by the DoT for transportation by United Parcel Service. The marketplace offers SafeCASE and SafeSLEEVE products for safe battery transportation. KULR forms a strategic partnership with Safeware for distribution to the Hazmat community, aiming to provide advanced safety and thermal management technologies.

Positive
  • KULR Technology Group expands its sales strategy by launching the KULR Online Marketplace, offering a direct order facility for Safe-X products.

  • The SafeCASE and SafeSLEEVE products have received DoT approval and are accepted by United Parcel Service for battery transportation, providing a regulation-compliant solution.

  • The partnership with Safeware enhances KULR's reach to the Hazmat community, ensuring reliable and data-driven safety solutions are readily available.

Negative
  • No negative aspects identified in the press release.

SAN DIEGO, May 13, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in safe and high-performance energy storage solutions, is excited to announce the launch of the KULR Online Marketplace. This innovative platform is now live and features the Safe-X product line, including SafeCASE models and SafeSLEEVE products, available for purchase both on KULR’s online marketplace and through Safeware.com, a premier distributor for Hazmat and fire safety equipment.

The KULR SafeCASE and SafeSLEEVE have received United States Department of Transportation (DoT) approval under a special permit and are accepted by United Parcel Service for transporting batteries, with each individual battery up to 300Wh (Watt-hours). The SafeSLEEVE is ideal for transporting multiple smartphones, tablets, and laptop batteries up to 300Wh, while the SafeCASE is suited for larger batteries used in power tools and energy storage products up to 2.5KWh (Kilowatt-hours). These products provide a safe and regulation-compliant transportation solution. For complete shipping guidelines, please refer to KULR's shipping instructions.

The KULR Online Marketplace represents a pivotal expansion in KULR’s sales strategy, offering a direct order facility that complements its traditional distribution channels. Currently, the marketplace offers a range of Safe-X products, with plans to expand its offerings to include Internal Short Circuit (ISC) trigger cells, rapid engineering design services, rotor track and balance solutions using KULR VIBE, and other advanced technologies in the near future.

"Our partnership with Safeware marks a crucial step in our mission to provide advanced safety and thermal management technologies to the hazardous materials (Hazmat) community," said Ted Krupp, VP of Sales and Marketing at KULR Technology Group. "Safeware’s status as an approved vendor for numerous fire departments and Hazmat groups across the country allows us to reach these critical customers more effectively and ensure they have the tools they need for safe and efficient operations."

Safeware echoed similar enthusiasm for the partnership. Scott Simons, Director of Vendor Relations, commented, "At Safeware, we're committed to protecting first responders and safety workers across the United States. Partnering with KULR and the SafeCASE helps us achieve this with reliable, data-driven solutions that are immediately available and backed by extensive testing."

KULR Technology is committed to driving innovation and accessibility in the safety and thermal management sectors. For more information about the KULR Online Marketplace and to view the available products, please visit www.kulrtechnology.shop.

About KULR Technology Group, Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit www.kulrtechnology.com.

Safe Harbor Statement
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on April 12, 2024, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com


FAQ

What products are featured on the KULR Online Marketplace?

The KULR Online Marketplace features Safe-X products, including SafeCASE and SafeSLEEVE models.

Which company has approved the SafeCASE and SafeSLEEVE products for transportation?

The United Parcel Service has accepted the SafeCASE and SafeSLEEVE products for battery transportation.

What is the role of Safeware in the partnership with KULR?

Safeware is a premier distributor for Hazmat and fire safety equipment, partnering with KULR to distribute SafeCASE and SafeSLEEVE products.

Where can customers purchase Safe-X products?

Customers can buy Safe-X products on KULR's online marketplace or through Safeware.com.

What is the KULR VIBE technology mentioned in the press release?

KULR VIBE is a technology for rotor track and balance solutions offered by KULR Technology Group.

KULR Technology Group, Inc.

NYSE:KULR

KULR Rankings

KULR Latest News

KULR Stock Data

61.56M
122.64M
27.97%
4.44%
9.16%
Optical Instrument and Lens Manufacturing
Manufacturing
Link
United States of America
SAN DIEGO