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KULR Technology Group, Inc. (NYSE:KULR) shares are jumping higher after it received a significant six-figure contract from Lockheed Martin Corporation (NYSE: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.
Photo via Shutterstock
