KULR and Worksport Forge Strategic Partnership to Advance Battery Technology and U.S. Manufacturing

Core Viewpoint - KULR Technology Group and Worksport Ltd. have formed a strategic partnership aimed at enhancing battery technology and boosting domestic manufacturing capabilities in the energy sector [1]. Key Areas of Collaboration - The partnership will focus on joint battery pack development, thermal runaway protection, and AI-integrated battery management system (BMS) software design [1][9]. - KULR will employ its KULR ONE Design Solutions (K1-DS) to assess the performance, cost efficiency, and scalability of integrated battery solutions for Worksport's COR system [3]. Market Growth and Business Impact - The collaboration is in response to increasing demand for U.S.-based production, driven by tariffs and market preferences for American-made energy solutions [4]. - Worksport's revenue increased by over 450% from 2023 to 2024, exceeding a monthly run rate of $1 million, with projections indicating potential nine-figure revenues in the next two to three years [5]. - The portable energy system market is expected to grow to between$21.95 billion and $24.8 billion by 2032, with a projected CAGR of 16% to over 24% [6]. Specific Initiatives - The joint development of the COR Battery Pack System will optimize BMS requirements and enhance overall system performance and safety [9]. - The integration of AI-driven software into the BMS will facilitate real-time monitoring and predictive maintenance, improving battery lifespan and safety [9]. - KULR's patented thermal runaway protection technology will be incorporated into Worksport's battery systems to enhance safety and longevity [9].