It’s always exciting to see a company that successfully combines innovation with ethics, which is exactly the case with KULR Technology Group (NYSE American: KULR), a leading developer of next-generation lithium-ion battery safety and thermal management technologies.
The company recently rang the closing bell on the New York Stock Exchange to celebrate the completion of its up listing to the NYSE American exchange. As KULR Technology begins its next chapter as a public company, it’s a good time to remind investors what makes this company stand out.
Renewable energy and electric vehicle stocks like Tesla (NASDAQ: TSLA) and KULR Technology are intriguing because they are companies using technology for better environmental initiatives.
Investors can feel good about putting their capital to work to make the world a better place while benefiting from the potential upside that companies working for a cleaner future may realize, given the huge growth opportunities in areas like 5G infrastructure, aerospace, electronics, and electric vehicles.
KULR Technology works with a broad range of customers from NASA to electric vehicle manufacturers, and the company’s technology is making it safer to transport and store lithium-ion batteries. What’s also attractive about the company is that it is working hand in hand with the burgeoning environment, social and governance (ESG) movement.
If you aren’t familiar with lithium-ion batteries, they are environmentally friendly and used in things like portable electronics, electric vehicles and even for military and aerospace applications.
They have come a long way over the last decade thanks to a surge in lithium-ion battery production, which has made electric vehicles and energy storage commercially viable for the first time ever.
The only problem with lithium-ion batteries is that they can present several safety hazards including fire or an explosion if they aren’t protected from physical impacts, extreme temperatures and more. That’s why KULR Technology’s Thermal Runway Shield technology is so interesting.
It could even be the key to the widespread adoption of lithium-ion battery technologies, which in turn will lead to a cleaner environment in the future.
KULR recently received a special permit from the U.S. Department of Transportation authorizing transport of prototype lithium cells and batteries for commerce, which is certainly a big step towards safer and more efficient battery technology.
The ability to develop and access new cell and battery architectures and configurations is severely constrained if prototype lithium battery cells cannot arrive at their required end destination in an expeditious manner, which is why the recent news is so exciting.
In addition to the environmental applications mentioned above, KULR Technology is also working hard on ESG initiatives and has maintained an independent board of directors including 2 newly appointed female directors.
Dr. Joanna D. Massey is a former Senior VP of Corporate Communications at Lions Gate Entertainment (NYSE:LGF/A) and should certainly help to strengthen the company’s corporate governance. She brings to KULR decades of experience advising executive teams at Fortune 500 companies, startups and non-profit organizations which should help with the company’s near and long-term growth strategies.
Lieutenant General Stayce D. Harris also joins the board of directors and is a retired United States Air Force Reserve Lieutenant General who last served as the Inspector General of the Air Force. Harris is an experienced pilot with over 10,000 flight hours safely transporting passengers and cargo worldwide for United Airlines (NASDAQ: UAL) and was a pilot for nearly 30 years before retiring from the company in 2020. General Harris currently serves on the Boeing (NYSE:BA) board of directors and will use her hands-on flying experience to provide valuable insight to KULR.
The company’s recently acquired permits could lead to strong revenue growth during the remainder of the year, and the fact that KULR Technology has already attracted high-profile clients like Lockheed Martin Corporation (NYSE: LMT), battery manufacturer SAFT, a Total Company (NYSE: TOT), and NASA tells us that its products could have big potential.
Keep in mind that since KULR Technology is one of the few companies authorized to transport lithium ion and metal batteries for recycling, it has an excellent opportunity to gain market share given how quickly the demand for these batteries is increasing.
Although KULR Technology is still working towards profitability, the company’s top-line growth potential, ESG initiatives and intriguing patent-protected technology certainly make it worth watching going forward.
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