Mentioned:
KULR Technology is serious about the drone battery business. And now, they’ve just landed a new million dollar deal.
What’s happening:
- KULR Technology (NYSE: KULR) has landed more than $1M USD in new purchase orders for drone battery systems
Why it matters:
- KULR Technology has publicly stated that the new drone battery systems will be used by an American drone company to support the United States Department of War’s Drone Dominance Program
Going deeper:
- KULR Technology’s drone battery systems are purpose built for unmanned aerial systems and urban air mobility applications
- KULR Technology previously made waves when they formed a partnership with Amprius Technologies (NYSE: AMPX) and Molicel to launch new advanced battery systems for drones known as KULR Air One
The intrigue:
- The United States Department of War has been pouring capital into domestic drone companies lately, including making their largest ever loan commitment of $820M USD to Performance Drone Works to increase manufacturing capacity
