This Stock Could Catch Fire by Preventing Li-ion Batteries from Catching Fire
Wednesday, July 20, 2022
Lithium-ion (Li-ion) batteries are popular, extremely popular, but they have a problem, a big problem. Over the last 30 years since being introduced by Sony
to power their handheld video recorder, they have repeatedly demonstrated a propensity to catch fire. Thankfully, one company, KULR Technology Group, Inc. (NYSE: SONY) , has brought its comprehensive Li-ion thermal management technology trusted by NASA to Earthly products, with commercialization efforts starting to bear fruit. (NYSE American: KULR)
Over the last 30 years, rechargeable Li-ion batteries made their way into everything from smartphones to toys to power tools to solar systems to electric cars, creating an industry expected to climb from $90 billion in 2020 to
$150 billion by 2030. Strong demand does not imply that safety concerns have been allayed at all, which provides a massive go-forward opportunity for KULR, a Silicon Valley-based company that specializes in using carbon fiber technology to disperse heat generated from Li-ion batteries and prevent thermal runaway in the event a damaged or defective cell indeed ignites.
KULR is already recognized in the aerospace and defense markets, with clients like NASA, Lockheed Martin
, Ball Aerospace (NYSE: LMT) , Airbus and more. Only in recent years has the company expanded into commercial markets where it has begun marketing and collaborating with manufacturers on applications such as electronics, energy storage, 5G infrastructure, EVs where its tech can make products cooler, lighter and safer for the consumer. (NYSE: BALL)
Most people have seen isolated incidents where a hoverboard or a Tesla catches fire. Those few videos are a travesty to the big picture.
U.S. Consumer Product Safety Commission (CPSC) in 2018 reported that there were 25,000+ overheating or fire incidents involving more than 400 types of lithium battery-powered consumer products within a five-year period. Li-ion batteries have been responsible for some massive fires, including a five-alarm fire at Royal Waste Services in Jamaica in March 2018, the Superior Battery warehouse in Morris, Illinois in June 2021, an explosion injuring firefighters and police at an Arizona Public Service Co. facility in April 2020, and a four-alarm blaze at South Bayside Waste Management Authority’s Shoreway Environmental Center in 2016, to name a few.
The transport industry has long been dogged by Li-ion batteries. Spontaneous combustion of lithium battery cargo not properly declared started a fire in one of the cargo holds on the giant containership Cosco Pacific in January 2019. Li-ion batteries have also been implicated in the fire in February 2022 in the Atlantic Ocean on a freightliner carrying about 4,000 vehicles from Audi, Bentley, Lamborghini, Porsche, and Volkswagen from Germany to the U.S.
Still, Li-ion remain now – and will remain – the battery of choice because they can pack more power into a smaller size than other options. With that in mind, KULR is leaping at the opportunity to emerge as the go-to thermal management company for building, testing, transporting, and using Li-ion batteries.
The maritime industry should take note, as KULR this year released a passive propagation resistant (PPR) solution in its KULR-Tech Safe Case product family for maritime lithium-ion battery safety. The PPR product release dovetails perfectly with new regulations regarding battery safety for the passenger vessel industry, and provides additional battery safety options for the cargo, fishing, and cruise verticals.
On the logistics front, KULR is quickly emerging as a leading provider of safety technology. The company is a key opinion leader co-hosting events such as the Battery Safety, Recycling, and Circular Economy Forum with Retriev Technologies and Battery Solutions in June. KULR is also the only company with a special permit from the U.S. Department of Transportation (DoT) authorizing the transport of prototype lithium cells and batteries aboard cargo aircrafts. In October 2020,
the CPSC reported KULR’s design solutions could stop fires and explosions in lithium-ion battery packs.
KULR is also the only company in the world with a product, its KULR-tech Safe Case, approved by the US DoT for storage and transport of lithium-ion batteries that can manage up to a capacity of 2.1 kWh for recycled, prototype and DDR (damaged, defective and recall) batteries. That designation supported a deal forged with Li-ion battery recycler Heritage Battery Recycling for the safe transportation logistics of HBR’s battery collection operations across North America that cover more than 100,000 customer locations.
KULR, one of the latest additions to the Russell Microcap® Index, has a competitive advantage over any so-called peers insomuch that NASA has sent KULR technology to Mars and repeatedly to the International Space Station to protect its hardware. If it can flawlessly withstand the rigors of space, it surely can handle any temperatures and conditions Earth can throw at it.
This contention is further supported by a follow-on order from Lockheed for KULR’s Phase Change Material (PCM) heat sink, new contracts from prime defense contractors for carbon fiber cathode solutions for high-power magnetic and other covert pulse weaponry initiatives and work with NASA on its upcoming Artemis 3 lunar program.
In another major move, KULR in June partnered with Taiwanese Li-ion battery juggernaut E-One Moli Energy Corp., or Molicel as it is colloquial known. Per the pact, Molicel will be filling an initial order for 75 megawatt hours (MWh) of Li-ion battery cell capacity for KULR to innovate new, safe battery applications. The strategic relationship calls for KULR to purchase at least 700 MWh of battery energy capacity from Molicel destined for the U.S. where KULR is localizing its production initiatives.
Shares of KULR closed trading Wednesday at $1.44, equating to a market capitalization of just $154.1 million.
KULR Technology Group, Inc. (NYSE American: KULR) Full Corporate Write-Up:
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