KULR's Xero Vibe Technology Lands Licensing Partnership with $2.35M Deal
Milestone IP Licensing Deal Expands Business Opportunities via New Business Model
HOUSTON,
Oct. 02, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group,
Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global
leader in sustainable energy management, today announced a licensing
agreement for its proprietary vibration reduction technology named KULR
Xero Vibe (“KXV”). The $2.35M landmark deal includes a $1.1M minimum
guaranteed license and royalty fee, a unique opportunity for the licensee
to purchase proprietary balancing equipment directly from KULR and
additional revenue upside to KULR based on volume and technology upgrades.
The licensee, a leading Japanese corporation, specializing in systems
integration and the distribution of advanced semiconductor solutions,
intends to use the KXV technology to balance industrial-scale fan systems
used in data center computer cooling, HVAC and other industrial
applications. KULR is exploring additional license opportunities based on
geographic regions in tangential power-consuming applications, where KULR
expects substantial upside revenue potential as product sales and royalty
income scales along with its customers’ growth.
KULR’s KXV technology offers a transformative solution for balancing high-performance commercial fans running at speeds exceeding 33,000 RPM. These fans are critical for, among other things, cooling a growing number of AI-driven data center computer servers. The KXV system reduces vibration to virtually zero, optimizing cooling system performance and reducing energy consumption.
Michael Mo, KULR CEO, said, “Did you know a ChatGPT query uses almost 10 times as much electricity as a Google search? According to Goldman Sachs, AI will drive data centers power consumption by 160% from 1-2% of overall worldwide power consumption now to 3-4% by the end of the decade. By virtually eliminating vibration, KXV is a game-changer technology to make data center fan cooling systems more efficient and environmentally friendly, and help customers lower operational and capex cost.”
Additional Advantages of KULR’s KXV Technology
KXV technology not only improves cooling system energy
efficiency but also offers several additional benefits for data
centers:
- Reduced Noise Enhances Work Environment: Lower vibration means quieter operations, contributing to a better working environment.
- Increased Stability Improves Performance: Systems operate more smoothly and reliably, enhancing overall performance
- Less Wear and Tear
Reduces Both Capital Spending and Operating Expenses: Dramatic
reduction in vibration decreases mechanical stress on fans and cooling
systems, extending their lifespan and reducing maintenance costs.
Improving Data Center Cooling Efficiency
According to the United States Chamber of Commerce, energy
consumption is the single largest operational expense for data centers,
with cooling costs representing approximately 40% of total
expenses. By leveraging KULR’s KXV technology to reduce energy use,
companies can lower operational costs and move toward more sustainable
practices. Microsoft’s partnership with
Constellation Energy, Oracle’s shift toward nuclear power, and
Vistra Energy’s rise as the top-performing stock on the S&P 500
year-to-date, underscore the importance of energy efficiency in
today’s business landscape.
About KULR Technology Group
Inc.
KULR Technology Group Inc. (NYSE American: KULR)
delivers cutting edge energy storage solutions for space, aerospace, and
defense by leveraging a foundation of in-house battery design expertise,
comprehensive cell and battery testing suite, and battery fabrication and
production capabilities. The Company’s holistic offering allows delivery
of commercial-off-the-shelf and custom next generation energy storage
systems in rapid timelines for a fraction of the cost compared to
traditional programs. For more information, please visit www.kulrtechnology.com.
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Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com
