Benzinga | Nov 30, 2021 04:45PM EST

KULR Pockets $500K Initial Order From Lockheed Martin For PPR Battery Systems

* KULR Technology Group Inc (NYSE:KULR) has received an initial order totaling ~$500 thousand for its passive propagation resistant battery systems from the Lockheed Martin Corp (NYSE:LMT).

* The order is for immediate delivery and is the starting point in the partnership as LMT leverages KULR's technological advancements in PPR energy products for its Advanced Energy Systems.

* KULR's PPR energy products include the Thermal Runaway Shield, the Internal Short Circuit, and the monitoring system KULR developed for its aerospace and U.S. Department of Defense customers.

* Price Action: KULR shares are trading higher by 1.16% at $3.49, and LMT lower by 1.18% at $337.20 during the premarket session on Tuesday.