KULR Technology Group, Inc. announced it has secured a contract from a top Japanese multinational automaker for testing and analysis of high-energy battery cells intended for their next-generation electric vehicles. The Company will utilize its KULR ONE Design Solutions (K1-DS) platform to expedite design readiness for the Automaker?s future electric vehicle buildout. KULR?s extensive spaceflight expertise and proprietary KULR ONE Design Solutions are integrated into its rigorous testing protocols, forming what KULR believes to be the most comprehensive battery safety testing platform.

These tests encompass Fractional Thermal Runaway Calorimetry (FTRC), bomb calorimetry, and impingement zone mapping, providing unparalleled cell-level characterization and insights to optimize battery safety. Originally, K1-DS was developed to introduce customers to KULR products, with the goal of transitioning to volume production. While this remains the Company?s core objective, over time KULR has expanded its testing services, projecting it to become an annual $8 million to $10 million revenue standalone business starting in 2025, without additional investment in testing capabilities.

New K1-DS contracts are in progress as KULR recognizes design services as a high-margin, recurring revenue stream, with the automotive sector being a prime target for ongoing business. This demand is largely driven by electric vehicle manufacturers' continuous evaluation of next-generation cells for improved efficiency and faster charging times. According to last year?s International Energy Agency's projection, electric vehicles, including fully electric and plug-in hybrid models, are expected to account for 35% of new vehicle sales worldwide by 2030.

The Company expects the FTRC to remain widely used across various industries for assessing both current and future cell technologies.