#Battery Innovators and the #Defense Industry: (NYSE:
$KULR) (NASDAQ: $AREC) (NASDAQ: $GOEV) (NASDAQ: $LCID) @KULRTech @Amerresources @canoo @LucidMotors
Vancouver,
Kelowna, Delta, BC – June 13, 2023 - Investorideas.com, a leading
investor news resource covering defense, energy and battery stocks releases a
news report on the evolution of safer
and more efficient battery options featuring KULR Technology Group,
Inc. (NYSE:KULR), a leading energy
management platform company accelerating the global transition to a sustainable
electrification economy.
Read this article,
featuring KULR in full at: https://www.investorideas.com/news/2023/defense/06131Battery-Innovators.asp
According
to a June 5th
post
on the Department of Defense website, “Deputy Defense Secretary Kathleen H.
Hicks has made clear a healthy battery supply chain is essential for military
capabilities and national security — and when it comes to batteries,
"America needs to lead the world." Batteries are a vital and dynamic
sector at the center of national efforts to deliver effective battlefield
operations, secure critical defense supply chains and ensure America's clean
energy future. The Defense Department depends on batteries to communicate,
operate autonomous vehicles, power directed energy weapons and electrify
warfighting platforms.”
KULR Technology
Group, Inc. (NYSE:
KULR),
with a long history in defense, issued a shareholder letter last week with
Chief Executive Officer Michael Mo sharing key milestones and insight into the
Company’s future in the battery market.
Excerpts: “It is a
privilege to write to you as the CEO of KULR Technology Group .Over the last
two years, we have worked very hard to transform KULR from a niche component
supplier to NASA and the Department of Defense, to a company with multiple
energy management platforms powering the electrification economy.”
“In
2Q 2023, we signed contracts with customers representing more revenue than we
have signed in any quarter since our founding. KULR has also laid the
foundation, with new products, an expanding customer base, and growing customer
demand for continued significant growth. Our demanding customers continue to
validate the competitive advantages of our product suite.”
“At
CES this past January, we launched our KULR ONE Platform, which includes the KULR
ONE Design Solutions ("K1DS") platform and KULR ONE battery module.
K1DS consists of both products and services. On the services side, we work with
clients to design, test, prototype, and achieve necessary certifications in
order to bring their products to market.”
“With
respect to K1DS, our goal is to shorten the cycle time from initial design to
readiness for manufacturing for production to under one year. As more customers
come to us at the initial stages of their battery design/development cycle, we
can reduce timelines by utilizing K1DS. We believe that we are achieving this
with the US Army battery pack, having already started the design phase in April
2023, and being on schedule to achieve manufacturing readiness by April 2024.”
“We
recently announced receiving a $1.13 million contract from the US Army to
develop a safe, high-energy battery storage platform using next generation
silicon anode lithium-ion cells. We also recently received an order from the US
military to develop high-energy battery packs for uninterruptible power
supplies to mobile command centers.”
From the May 4th news: "We are
proud to support military operational readiness with advanced next-generation
energy storage platforms," said KULR CEO Michael Mo. “Our breakthrough
KULR ONE Design Solutions has enabled leading aerospace, electronics, and
energy storage manufactures to develop lighter, safer, and more thermally
efficient products. Now, by developing next generation high-energy silicon
anode battery packs into smaller and lighter power sources for deployed
applications, we can implement measures that enhance the capabilities and
resilience of soldiers in the field. We are very excited to help solve the
difficult problems facing operational preparedness for the U.S. Armed Forces
and its allies.”
Shareholder letter
continued:
“Another question, I am asked often is around the size of the market and KULR’s
potential within it. McKinsey estimates the global lithium battery market to be
approximately $400 billion by 2030. KULR operates within the approximately $200
billion portion of the market that includes battery cells, battery packs, and
recycling. Some estimates have the battery recycling market alone to reach
approximately $23 billion by 2030. “
American
Resources Corporation's (NASDAQ:AREC) subsidiary,
ReElement Technologies LLC ("ReElement Technologies"), a leading
provider of high performance refining capacity of battery and rare earth
elements, recently announced that it has signed
a partnership with American Lithium Energy Corporation to enhance the current
supply chain for lithium-ion batteries to the energy storage industry by
supplying battery-grade materials, investing in and co-locating advanced
refining capacity with ALE's battery manufacturing. Through this agreement,
ReElement Technologies will supply the high-purity lithium and other refined
battery minerals to be used in creating ALE's state-of-the-art batteries that
are used in a variety of applications and industries including medical,
aerospace, defense, and electric vehicles.
From the news: American Lithium
Energy ships the world's highest energy density silicon-based lithium-ion
batteries with industry best safety and zero-volt stability. ALE's patented
technologies eliminate the need for trade-offs between energy density,
lifecycle, and safety, and ALE's products are able to deliver all three
benefits. ALE's patented lithium battery safety technologies generate extremely
high-power, high-energy-density lithium cells. ALE's customers include:
Department of Defense, Department of Energy, and several US defense primes for
over several years.
In
February, The Defense Innovation Unit awarded Canoo (NASDAQ: GOEV), a high-tech
advanced mobility company, a contract to supply battery modules for analysis
and demonstration. This award supports the U.S. Department of Defense focus to
incorporate scalable and adaptable capabilities in tactical environments.
From the news: “We are proud to
be selected by the DoD and to contribute to our country's global defense
technology leadership.”
From the news: "We are very
proud to be selected by the Department of Defense and to contribute to our
country's global defense technology leadership. This award is another example
of our focus and commitment to innovation. We've worked hard and continue to
develop our patented technologies and ability to deliver flexible, on demand
energy solutions that are multi-purpose capable, to serve America's interests
and its allies around the world," said Tony Aquila, Chairman & CEO at
Canoo.
From the news: Canoo's
proprietary battery system is modular to support different vehicle
configurations and engineered to provide industry leading energy density. The
system is designed to be flexible and compatible with cells from leading
battery providers and engineered to evolve with changes in cell size and
chemistry as the industry matures, scales and reduces costs.
According to Torquenews, “ Lucid (NASDAQ:LCID) will develop
battery modules for the Department of Defense to test towards the
electrification of military platforms along with Canoo, GM Defense and two
other companies that are yet to be named.
Continued: The contracts
charge Lucid and Canoo with developing batteries that can be standardized
across a range of military applications. In return, the companies will receive
research funding and the revenue that comes with having one of the world's
largest militaries as a customer.
Continued: Lucid's Role The
contracts aim to reduce or eliminate barriers standing between the commercial
sector and the military. Lucid is tasked with developing a version of its
high-voltage battery systems specifically for EV tactical military vehicles
The
opportunity is laid out in a June 5th
post
on the Department of Defense website. “Budget and strategy are also aligned in
this critical mission. The President's recently released FY 2024 defense budget
request makes critical investments into revitalizing the defense industrial
base, driving innovation, and building enduring advantages. The budget request
invests approximately $6 billion in fostering industrial base resilience,
including long-term investments in five defense-critical sectors in alignment
with E.O.14017, including $125 million in battery and energy storage.”
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