HOUSTON – KULR Know-how Group, Inc. (NYSE American: KULR), recognized for its vitality administration options, has secured a contract to provide battery techniques for South Korea’s Nara House CubeSat mission, a part of the Artemis II venture. The preliminary deal, valued at almost $1 million, might improve to $1.5 million if extra choices are exercised. This settlement entails collaboration with the Korea Astronomy and House Science Institute (KASI) and NASA.
The contract highlights KULR’s function within the aerospace business, offering 20793-rated battery techniques designed for area functions. The corporate has delivered a 20793-rated battery to Nara House in a document time, showcasing its functionality in battery design companies. KULR’s design companies embody cell choice, thermal modeling, and multi-fault tolerant methods, very important for area and protection functions.
Using the KULR ONE House (K1S) structure, the corporate has managed to shorten the supply timeline for Nara House to only 4 months for a 20793-compliant system. The K1S structure is now accessible to different clients looking for 20793 certification, providing a customizable answer that guarantees quicker market entry and price financial savings.
KULR’s supply will embody a scalable battery structure that adheres to the stringent security and efficiency requirements obligatory for human spaceflight. The extra contract choices will depend upon additional discussions with NASA relating to the necessity for extra testing.
Dr. Will Walker, CTO of KULR, emphasised the corporate’s turn-key design strategy with K1S as a significant development in simplifying the price of battery integration for human-rated area missions. Ted Krupp, VP of Gross sales and Advertising, identified that KULR’s skill to quickly market merchandise and powerful NASA relationships have been key elements in Nara House’s determination to companion with them.
This contract aligns with Professional Market Studies’ forecast that the House Battery Market might attain USD 25.14 billion by 2032, signifying the rising demand for space-related vitality options. KULR’s dedication to superior vitality options for area and protection functions is obvious in its strategic funding in analysis and growth for space-rated battery techniques.
The data for this text relies on a press launch assertion from KULR Know-how Group, Inc.
In different current information, KULR Know-how Group Inc. has reported a major monetary progress within the second quarter of 2024, with a 39% income improve from the primary quarter to $2.43 million. The corporate’s engineering service income noticed a considerable 76% year-over-year progress, and the variety of paying clients rose by 42% to 27. KULR has made important investments in its Battery Heart of Excellence and a brand new facility close to the NASA Johnson House Heart.
Along with these developments, KULR secured a contract from a high Japanese automaker for high-energy battery cell testing and evaluation. The corporate’s testing service capability is projected to succeed in $2 million per quarter by the tip of Q3 2024. KULR’s monetary place has strengthened, indicated by a 13% discount in liabilities and a 40% improve in money plus accounts receivable.
Trying forward, KULR anticipates resuming year-over-year income progress within the second half of 2024 and is investing in battery design and evaluation capabilities. The corporate is aligned with the rising area economic system, estimated at $1.8 trillion by 2035, positioning its KULR ONE House platform to play a major function. The manufacturing of KULR ONE’s House batteries and cells is anticipated to extend within the second half of 2024 and into 2025.
InvestingPro Insights
As KULR Know-how Group, Inc. (NYSE American: KULR) secures a major contract inside the area business, traders and business observers are keenly analyzing the corporate’s monetary well being and inventory efficiency. Based on InvestingPro knowledge, KULR has a market capitalization of $46.63 million, reflecting its place inside the small-cap market phase, which might typically be topic to greater volatility. That is additional supported by an “InvestingPro Tip” that highlights the inventory’s tendency to commerce with excessive value volatility.
Regardless of the potential improve in contract worth and the optimistic outlook for the House Battery Market, KULR’s monetary metrics point out some challenges. The corporate’s Worth / Guide ratio stands at a excessive 12.16 as of the final twelve months main as much as Q2 2024, which means that the inventory is perhaps buying and selling at a premium in comparison with its ebook worth. Moreover, with a detrimental P/E ratio of -1.57, traders could also be cautious, as this factors to an absence of profitability within the close to time period—a priority mirrored by an “InvestingPro Tip” that analysts don’t anticipate the corporate to be worthwhile this 12 months.
On the upside, KULR’s income confirmed a progress of 24.72% throughout the identical interval, indicating an increasing enterprise operation which could possibly be bolstered by the brand new contract and subsequent offers. Nevertheless, it is value noting that KULR’s short-term obligations exceed its liquid property, an “InvestingPro Tip” that might sign liquidity dangers that traders ought to monitor.
For these thinking about a deeper evaluation, InvestingPro provides extra insights and tips about KULR, together with 13 extra InvestingPro Ideas that might assist in making a extra knowledgeable funding determination. To discover these additional, one can go to KULR’s devoted web page on InvestingPro (https://www.investing.com/professional/KULR).
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