Benzinga | Nov 30, 2021 04:42PM EST

KULR Receives Initial Passive Propagation Resistant Battery Safety Order From Lockheed Martin Totalling $500,000

SAN DIEGO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced the Company has received an initial order totaling approximately $500,000 for its passive propagation resistant ("PPR") battery systems from the Lockheed Martin Corporation (NYSE:LMT) ("LMT"). This initial 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.