KULR Technology Group, Inc., announces that the U.S. Patent and Trademark Office has awarded it a patent on itsThermal Runaway Shield (TRS) a passive propagation resistant solution designed and successfully tested to reduce the hazardous risks associated with thermal runaway in lithium-ion battery packs. This is the second patent the Company has been granted on its TRS technology.

The Companys TRS is a sleeve-like shield that surrounds and separates individual cells in multi-cell packs and contains carbon fiber core and liquid coolant. The unique combination and configuration of the shield passively draws intense heat of cell failures away from nearby cells while dousing the failed area in a cooling and fire-prevention liquid. The TRS product is used byNASA to transport to and store batteries aboard the International Space Station.

Securing this patent is a substantial leap forward in our research and development of products that make batteries safer, said Dr. Timothy Knowles, co-founder and Chief Technology Officer of KULR. We are very pleased with the development of our patent portfolio. This new issuance expands the breadth and depth of our battery safety technology covering catastrophic battery failures.

In a comprehensive analystreportby Litchfield Hills Research last month, the firm estimated that KULR technology has an addressable market of $8 billion. The analyst further expounds: Both the growth of electric-motor based transportation and demand for increased safety of lithium-ion batteries are key drivers for KULR, continuing, KULR has what we believe to be better and lighter materials for thermal management.

Battery safety is a global concern across many large and rapidly growing markets such as electric vehicles, battery storage, 5G infrastructure, and space exploration. said Michael Mo, CEO of KULR. We continue to work with government agencies, regulators and commercial customers across the world to deploy our technology.

The patent, issued as #10727462, was awarded on July 28th, 2020.

More:

KULR Technology Receives US Patent Covering Risk Minimization of Fires and Explosions in Lithium-Ion Battery Packs - I-Connect007