In the first quarter of 2024, KULR Technology Group, Inc. (NYSE: KULR) secured a commitment of over $1 million from H55 Inc., a leader in electric propulsion technology (EPS). The integration of KULR’s Thermal Runaway Shield (TRS) into H55’s EPS is crucial for meeting safety standards set by the European Union Aviation Safety Agency (EASA).
Michael Mo, CEO of KULR, emphasized the company’s dedication to setting new safety standards in electric aviation through its partnership with H55. By working with H55, KULR aims to address the increasing compliance requirements from regulatory bodies such as EASA and the Federal Aviation Administration (FAA). The goal is to ensure that KULR’s technology not only meets but also anticipates the evolving safety needs of the electric aviation sector.
H55 plans to incorporate KULR’s TRS into propulsion systems for major industry players like Pratt & Whitney and CAE Inc. This collaboration will allow H55 to develop propulsion systems that not only meet strict safety protocols but also maintain high efficiency and energy density. Following the recent approval of H55’s EPS by EASA, the project has reached a critical stage in demonstrating compliance for certification.
KULR’s stock closed higher by 7.89% at $0.41 on Monday. To stay updated on stock analysis, traders can use tools like Benzinga Pro. This article was originally published on Benzinga.com and focuses on KULR securing a significant contract from H55 for its proprietary Thermal Runaway Shield technology.
