HOUSTON – KULR Expertise Group, Inc. (NYSE American: KULR), identified for its vitality administration options, has secured a contract to produce battery methods for South Korea’s Nara House CubeSat mission, a part of the Artemis II undertaking. The preliminary deal, valued at almost $1 million, may improve to $1.5 million if further 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 trade, offering 20793-rated battery methods designed for house purposes. The corporate has delivered a 20793-rated battery to Nara House in a report time, showcasing its functionality in battery design companies. KULR’s design companies embody cell choice, thermal modeling, and multi-fault tolerant methods, important for house and protection purposes.
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 prospects in search of 20793 certification, providing a customizable answer that guarantees quicker market entry and value financial savings.
KULR’s supply will embrace a scalable battery structure that adheres to the stringent security and efficiency requirements vital for human spaceflight. The extra contract choices will rely 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 serious development in simplifying the price of battery integration for human-rated house missions. Ted Krupp, VP of Gross sales and Advertising, identified that KULR’s capability to quickly market merchandise and powerful NASA relationships have been key elements in Nara House’s resolution to associate with them.
This contract aligns with Professional Market Studies’ forecast that the House Battery Market may attain USD 25.14 billion by 2032, signifying the rising demand for space-related vitality options. KULR’s dedication to superior vitality options for house and protection purposes is clear in its strategic funding in analysis and growth for space-rated battery methods.
The knowledge for this text is predicated on a press launch assertion from KULR Expertise Group, Inc.
In different current information, KULR Expertise Group Inc. has reported a major monetary development 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 development, and the variety of paying prospects rose by 42% to 27. KULR has made important investments in its Battery Middle of Excellence and a brand new facility close to the NASA Johnson House Middle.
Along with these developments, KULR secured a contract from a prime 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 top 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 development within the second half of 2024 and is investing in battery design and evaluation capabilities. The corporate is aligned with the rising house 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 Expertise Group, Inc. (NYSE American: KULR) secures a major contract inside the house trade, traders and trade observers are keenly analyzing the corporate’s monetary well being and inventory efficiency. In response to InvestingPro knowledge, KULR has a market capitalization of $46.63 million, reflecting its place inside the small-cap market section, which might usually 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 Value / E book ratio stands at a excessive 12.16 as of the final twelve months main as much as Q2 2024, which means that the inventory may be buying and selling at a premium in comparison with its ebook worth. Moreover, with a adverse 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 count on the corporate to be worthwhile this 12 months.
On the upside, KULR’s income confirmed a development of 24.72% throughout the identical interval, indicating an increasing enterprise operation which might be bolstered by the brand new contract and subsequent offers. Nevertheless, it is price noting that KULR’s short-term obligations exceed its liquid belongings, an “InvestingPro Tip” that would sign liquidity dangers that traders ought to monitor.
For these curious about a deeper evaluation, InvestingPro gives further insights and recommendations on KULR, together with 13 extra InvestingPro Suggestions that would assist in making a extra knowledgeable funding resolution. To discover these additional, one can go to KULR’s devoted web page on InvestingPro (https://www.investing.com/professional/KULR).
This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.
