KULR Technology Secures Major Contract for Electric Propulsion Safety System from Leading Industry Provider

KULR Lands $1M Contract with H55 for Innovative Thermal Runaway Shield Technology

In a major development for the electric propulsion technology (EPS) industry, KULR Technology Group, Inc. (NYSE: KULR) has secured over $1 million in funding from H55 Inc., a leading EPS provider. The partnership between the two companies began in the first quarter of 2024 and is expected to have a significant impact on the safety standards set by the European Union Aviation Safety Agency (EASA).

H55 plans to integrate KULR’s Thermal Runaway Shield (TRS) into its EPS systems for major industry players like Pratt & Whitney and CAE Inc. This collaboration will enable H55 to create propulsion systems that not only meet strict safety protocols but also maintain high efficiency and energy density. Following recent approval of H55’s EPS by EASA, the project has reached a critical stage in demonstrating compliance for certification.

KULR CEO Michael Mo expressed his company’s dedication to setting new safety standards in electric aviation through its partnership with H55. By working with H55, KULR aims to address increasing compliance requirements from regulatory bodies such as EASA and the Federal Aviation Administration (FAA). The goal is to ensure that KULR’s technology meets not only current but also future safety needs of the electric aviation sector.

KULR’s stock closed higher by 7.89% at $0.41 on Monday, reflecting investor confidence in the company’s growth potential following this significant contract win. To stay updated on stock analysis, traders can use tools like Benzinga Pro. This article was originally published on Benzinga.com and focuses on KULR securing a significant contract from H55 for its proprietary TRS technology.

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