KULR Technology Group, Inc. KULR shares are jumping higher after it received a significant six-figure contract from Lockheed Martin Corporation LMT.
As per the terms, KULR will develop phase change material (PCM) heat sinks that are key for the thermal regulation of essential electronics within long-range precision missiles.
The contract win follows a series of successful evaluations that showcased the efficiency of KULR’s solutions in cooling critical onboard systems, and this contract underscores its role as a source of innovative cooling solutions.
Ted Krupp, KULR’s VP of Sales and Marketing, said, “Our partnership with Lockheed Martin validates our drive for excellence and innovation in managing high-stakes thermal challenges. Our work is critical for enhancing the capabilities of precision-guided weaponry.”
In December, KULR disclosed winning an initial purchase order from one of the world’s largest privately held space exploration companies.
Price Action: KULR shares are up 21.4% at $0.3947 on the last check Tuesday.
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