SAN DIEGO, April 23, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced it has delivered on an immediate basis, a power cell battery deployment order for AI-enabled drone and advanced air mobility missions in Ukraine. The Ukrainian contractor will employ the Company's high-power battery cells to sustain its ongoing drone operations in Eastern Europe. This initial deployment order necessitated immediate delivery, with full pre-payment before shipment. Further details on the transaction are being withheld due to the sensitive nature of the project.
The conflict in Ukraine has highlighted the strategic superiority of drones, which have evolved to be more compact, user-friendly, and accessible to a wide range of operators. Drones significantly reduce the gap between target identification and elimination, thereby enhancing a military's capability to push forward its frontline. Equipped with a longer battery life and faster charge times, drones can perform extensive reconnaissance missions for hours, facilitating subsequent precision strikes by more sophisticated models within targeted areas. Additionally, certain drone variants empower individual soldiers to surveil movements without jeopardizing lives or disclosing their own positions. Ukraine’s drone developers look to integrate AI solutions into their designs where an algorithm quickly learns to recognize a drone’s target. That way, if the electronic jamming gets too intense or the drone loses its command signal, AI can take over control from the human operator and steer the drone to a successful mission.
Just this past weekend the United States House of Representatives, with broad bipartisan support, passed a $61 billion legislative package aiding Ukraine.
According to Fortune Business Insights, the global military drone market is expected to grow from $14.14 billion in 2023 to $35.60 billion by 2030, at a CAGR of 14.10% during the forecast period.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit www.kulrtechnology.com.
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