The #Defense
Industry’s Role in the #Battery #Market and the Innovators to Watch (NYSE:
$KULR) (NASDAQ:$AREC) (NASDAQ: $GOEV) (NASDAQ: $LCID) @KULRTech @Amerresources @canoo @LucidMotors
Vancouver,
Kelowna, Delta, BC – June 12, 2023 - Investorideas.com, a
leading investor news resource covering defense, energy and battery stocks
releases a news report on the evolution of safer and more efficient battery options featuring
KULR Technology Group, Inc. (NYSE:KULR), a
leading energy management platform company accelerating the global transition
to a sustainable electrification economy.
Read this article,
featuring KULR in full at: https://www.investorideas.com/news/2023/defense/06121Battery-Market.asp
According
to a June 5th
post on the Department of Defense website, “Deputy Defense
Secretary Kathleen H. Hicks has made clear a healthy battery supply chain is
essential for military capabilities and national security — and when it comes
to batteries, "America needs to lead the world." Batteries are a
vital and dynamic sector at the center of national efforts to deliver effective
battlefield operations, secure critical defense supply chains and ensure
America's clean energy future. The Defense Department depends on batteries to communicate,
operate autonomous vehicles, power directed energy weapons and electrify
warfighting platforms.”
KULR Technology
Group, Inc. (NYSE:
KULR), with a long history in defense, issued a shareholder letter last
week with Chief Executive Officer Michael Mo sharing key milestones and insight
into the Company’s future in the battery market.
Excerpts: “It is
a privilege to write to you as the CEO of KULR Technology Group .Over the last
two years, we have worked very hard to transform KULR from a niche component supplier
to NASA and the Department of Defense, to a company with multiple energy
management platforms powering the electrification economy.”
“In
2Q 2023, we signed contracts with customers representing more revenue than we
have signed in any quarter since our founding. KULR has also laid the
foundation, with new products, an expanding customer base, and growing customer
demand for continued significant growth.
Our
demanding customers continue to validate the competitive advantages of our product
suite.”
“At
CES this past January, we launched our KULR ONE Platform, which includes the
KULR ONE
Design
Solutions ("K1DS") platform and KULR ONE battery module. K1DS
consists of both products and services. On the services side, we work with
clients to design, test, prototype, and achieve necessary certifications in
order to bring their products to market.”
“With
respect to K1DS, our goal is to shorten the cycle time from initial design to
readiness for manufacturing for production to under one year. As more customers
come to us at the initial stages of their battery design/development cycle, we
can reduce timelines by utilizing K1DS.
We
believe that we are achieving this with the US Army battery pack, having
already started the design phase in April 2023, and being on schedule to
achieve manufacturing readiness by April 2024.”
“We
recently announced receiving a $1.13 million contract from the US Army to
develop a safe, high-energy battery storage platform using next generation
silicon anode lithium-ion cells. We also recently received an order from the US
military to develop high-energy battery packs for uninterruptible power
supplies to mobile command centers.”
From the May 4th news: "We
are proud to support military operational readiness with advanced
next-generation energy storage platforms," said KULR CEO Michael Mo. “Our
breakthrough KULR ONE Design Solutions has enabled leading aerospace,
electronics, and energy storage manufactures to develop lighter, safer, and
more thermally efficient products. Now, by developing next generation
high-energy silicon anode battery packs into smaller and lighter power sources
for deployed applications, we can implement measures that enhance the
capabilities and resilience of soldiers in the field. We are very excited to
help solve the difficult problems facing operational preparedness for the U.S.
Armed Forces and its allies.”
Shareholder letter
continued:
“Another question, I am asked often is around the size of the market and KULR’s
potential within it. McKinsey estimates the global lithium battery market to be
approximately $400 billion by 2030. KULR operates within the approximately $200
billion portion of the market that includes battery cells, battery packs, and
recycling. Some estimates have the battery recycling market alone to reach
approximately $23 billion by 2030. “
American
Resources Corporation's (NASDAQ:AREC) subsidiary,
ReElement Technologies LLC ("ReElement Technologies"), a leading
provider of high performance refining capacity of battery and rare earth
elements, recently announced that it
has signed a partnership with American Lithium Energy Corporation to enhance
the current supply chain for lithium-ion batteries to the energy storage
industry by supplying battery-grade materials, investing in and co-locating
advanced refining capacity with ALE's battery manufacturing. Through this
agreement, ReElement Technologies will supply the high-purity lithium and other
refined battery minerals to be used in creating ALE's state-of-the-art
batteries that are used in a variety of applications and industries including
medical, aerospace, defense, and electric vehicles.
From the news:
American Lithium Energy ships the world's highest energy density silicon-based
lithium-ion batteries with industry best safety and zero-volt stability. ALE's
patented technologies eliminate the need for trade-offs between energy density,
lifecycle, and safety, and ALE's products are able to deliver all three
benefits. ALE's patented lithium battery safety technologies generate extremely
high-power, high-energy-density lithium cells. ALE's customers include:
Department of Defense, Department of Energy, and several US defense primes for
over several years.
In
February, The Defense Innovation Unit awarded Canoo (NASDAQ: GOEV), a
high-tech advanced mobility company, a contract to supply battery modules for
analysis and demonstration. This award supports the U.S. Department of Defense
focus to incorporate scalable and adaptable capabilities in tactical
environments.
From the news: “We are
proud to be selected by the DoD and to contribute to our country's global
defense technology leadership.”
From the news:
"We are very proud to be selected by the Department of Defense and to
contribute to our country's global defense technology leadership. This award is
another example of our focus and commitment to innovation. We've worked hard
and continue to develop our patented technologies and ability to deliver
flexible, on demand energy solutions that are multi-purpose capable, to serve
America's interests and its allies around the world," said Tony Aquila,
Chairman & CEO at Canoo.
From the news: Canoo's
proprietary battery system is modular to support different vehicle
configurations and engineered to provide industry leading energy density. The
system is designed to be flexible and compatible with cells from leading
battery providers and engineered to evolve with changes in cell size and
chemistry as the industry matures, scales and reduces costs.
According to Torquenews, “
Lucid (NASDAQ:LCID) will
develop battery modules for the Department of Defense to test towards the
electrification of military platforms along with Canoo, GM Defense and two
other companies that are yet to be named.
Continued: The
contracts charge Lucid and Canoo with developing batteries that can be
standardized across a range of military applications. In return, the companies
will receive research funding and the revenue that comes with having one of the
world's largest militaries as a customer.
Continued: Lucid's
Role The contracts aim to reduce or eliminate barriers standing between the
commercial sector and the military. Lucid is tasked with developing a version
of its high-voltage battery systems specifically for EV tactical military
vehicles
The
opportunity is laid out in a June 5th
post on the Department of Defense website. “Budget and
strategy are also aligned in this critical mission. The President's recently
released FY 2024 defense budget request makes critical investments into
revitalizing the defense industrial base, driving innovation, and building
enduring advantages. The budget request invests approximately $6 billion in
fostering industrial base resilience, including long-term investments in five
defense-critical sectors in alignment with E.O.14017, including $125 million in
battery and energy storage.”
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