KULR Launches Blockchain to Create Secure and Verifiable Supply Chain
Rhea-AI Summary
KULR Technology Group (NYSE: KULR) has launched a blockchain-based supply chain initiative to enhance security and transparency in product tracking. The company will record product metadata, including NASA WI 37A-certified lithium-ion batteries, as non-fungible tokens (NFTs) on a customized rollup to Coinbase's Base L2 chain.
The system will allow for secure transfer of NFTs to buyers' wallets or KULR's burn wallet to indicate ownership changes. KULR has developed an internal UI tool that syncs with encrypted wallets to monitor inventory. This initiative follows KULR's December 2024 bitcoin treasury strategy, under which the company has acquired 668 BTC using up to 90% of its surplus cash reserves.
Positive
- Implementation of blockchain technology enhances supply chain security and transparency
- Integration with established Coinbase's Base L2 chain provides reliable infrastructure
- Strategic holding of 668 BTC demonstrates commitment to digital asset adoption
- NFT-based tracking system provides immutable verification for NASA-grade batteries
Negative
- 90% of surplus cash reserves committed to volatile bitcoin holdings poses significant financial risk
- Implementation of new blockchain system may require significant resources and adaptation period
News Market Reaction – KULR
In the trading session that priced this news, KULR gained 1.60%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in advanced energy management solutions, today announced the launch of a blockchain-secured supply chain initiative to safeguard product-related data being offered to their customers. Moving supply chain verification and custody tracking from proprietary software onto a distributed ledger will increase transparency and security.
Decentralizing the inventory tracking system on a blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain. By recording each inventory item as a tamper-proof, timestamped entry on a distributed ledger, KULR eliminates the risk of data manipulation and ensures that all stakeholders have access to a single source of truth. This reduces reliance on centralized systems that are vulnerable to outages or unauthorized access. Additionally, blockchain’s traceability features enable KULR to verify product authenticity, monitor asset movement, and streamline audits.
One of the initial products that will be recorded on the blockchain will include lithium-ion batteries screened to meet NASA’s WI 37A rigorous methodology. Utilizing the blockchain to create a secure and immutable record of the testing data will benefit all future users of these batteries, who will have access to proven testing results.
"After launching our bitcoin treasury strategy last December, we became curious about what other aspects of the crypto ecosystem could benefit our business operations. Moving our supply chain tracking onto the blockchain seemed like a natural move for us,” KULR CEO Michael Mo commented on today’s news. “We are leveraging proven blockchain technologies to deliver commercial applications that provide our customers with a trustworthy data source and improved operational efficiency. I firmly believe many aerospace products and commercial products could benefit from an immutable and verifiable chain of custody.”
Each battery that KULR manufactures will have its metadata minted as a non-fungible token (NFT) on the blockchain. When a battery is purchased, the NFT can be transferred to the buyer’s on-chain wallet or moved to a “burn” wallet maintained by KULR to indicate ownership has been transferred. For large quantity customers, KULR will establish wallets to easily transfer NFTs associated with their orders. KULR designed an internal UI tool that synchronizes with encrypted KULR-owned wallets to view the current inventory.
The Company has built a customized rollup to Coinbase’s Base L2 chain, which is ultimately built on Ethereum.
On December 4, 2024, KULR announced board approval to commit up to
For more information about KULR Technology Group and its bitcoin strategy, please visit www.kulr.ai.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) delivers cutting-edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company’s holistic offering allows the delivery of commercial off-the-shelf and custom next-generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. On December 4, 2024, KULR announced that its Board of Directors has agreed to include bitcoin as a primary asset in its treasury program and committed to allocating up to
Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulr.ai
KULR Media Relations:
M Group Strategic Communications (on behalf of KULR)
Email: KULR@mgroupsc.com
