KULR Technology Group, Inc. (NYSE: KULR) shares move higher Tuesday, as the leader in advanced energy management platforms announced today that it has been awarded $6,703,500 by the Texas Space Commission as part of a $26-million grant award focused on strengthening Texas’ leadership in space exploration and technology.
KULR’s selection supports its role in an ambitious program to develop cold-temperature lithium-ion battery solutions for the next generation of Lunar and Martian missions. The initiative is being carried out in close collaboration with NASA Johnson Space Center (JSC) and in partnership with South 8 Technologies, aligning public, private, and academic stakeholders to deliver scalable, space-rated battery technology.
“This award underscores KULR’s commitment to powering the next era of space exploration with safe, high-performance, and environmentally adaptive KULR ONE Space platform,” said CEO Michael Mo. “Working alongside visionary partners at NASA JSC and South 8, we’re proud to anchor this Texas-led effort to develop scalable, space-rated battery technology that advances national objectives and commercial innovation.”
Throughout the program, KULR will manage the design, testing, and production of lithium-ion cells using liquefied gas (LiGas) electrolyte from South 8 Technologies. These cells will operate down to -60°C and be integrated into the KULR ONE Space platform, optimized for extreme environments encountered during lunar and Martian missions.
KULR shares opened Tuesday ahead 11 cents, or 9.3%, to $1.24.