Benzinga | Dec 7, 2021 06:30AM EST

EXCLUSIVE: KULR Tech Group To Acquire The Patented Intellectual Property Rights From Centropy AB, No Terms Disclosed

SAN DIEGO / GLOBENEWSWIRE / December 07, 2021 / 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 it has acquired the patented

intellectual property ("IP") rights from Centropy AB ("Centropy"). The acquisition

brings advanced carbon fiber based heatsink technology for high power

computing ("HPC") applications that strengthen KULR's portfolio of thermal

management solutions for cloud computing, AI, and crypto mining applications.

Centropy's cooling solutions will be integrated into KULR's existing technology

portfolio -- targeting air and liquid-cooling of HPC applications such as crypto

mining, cloud computing, and AR/VR simulations. Combining Centropy's

proprietary process of utilizing carbon fibers in cooling technology for electronic

components used in aerospace, automotive, data centers, and other high-

performance applications with KULR's innovation, productization, and

commercialization capabilities, provides a dependable tailwind for the

Company's HPC technology development going forward.

High power computing applications, such as industrial bitcoin mining operations,

are comprised of thousands of computers stacked on shelves in warehouses

surrounded by large-scale fans where electricity can account for about 80% of a

miner's operating cost. With the joint capabilities of Centropy and KULR's

technology, crypto miners would now be able to conduct operations more

efficiently and effectively.

"We appreciate the dedication and innovation Centropy put into this

technology," said KULR CEO, Michael Mo. "I believe KULR will be a great home

for the technologies that the Centropy team has dedicated their hard work

towards because we know firsthand it takes tremendous resources and

innovation to invent a solution, productize it, and a tremendous amount of

diligence and infrastructure to commercialize it. KULR intends to be a staunch

custodian and conduit for Centropy's cutting-edge technology, advancing a

complete suite of solutions as well as other innovative thermal management

technologies that will result from IP acquisitions."

Jesper Eman, CEO of Centropy AB added: "We are very pleased and proud to

work with KULR as we look to leverage our IP and take it to commercialization.

We also realize it takes a lot of expertise and resources in productization,

manufacturing and commercialization to take our technologies to mass markets.

The partner to help us get there is KULR, which is the leader in carbon fiber

thermal management technologies for the most advanced and demanding

applications. Their products are trusted and used by NASA and other well-

respected commercial and governmental partners. We look forward to the times

ahead, as we strongly believe KULR is the ideal home for our technologies to

realize their full potential."

About KULR Technology Group Inc.

KULR Technology Group Inc. (NYSE:KULR) develops, manufactures

and licenses next-generation carbon fiber thermal management technologies for

batteries and electronic systems. Leveraging the company's roots in developing

breakthrough cooling solutions for NASA space missions and backed by a strong

intellectual property portfolio, KULR enables leading aerospace, electronics,

energy storage, 5G infrastructure, and electric vehicle manufacturers to make

their products cooler, lighter and safer for the consumer. For more information,

please visit www.KULRTechnology.com.

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statements based on our current expectations, forecasts and assumptions that

involve risks and uncertainties. Forward-looking statements in this release are

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