KULR Technology Group to provide lithium-ion battery transportation solution to Heritage Battery Recycling
KULR Technology Group, a developer of lithium-ion battery safety and thermal management technologies, will provide its KULR-Tech Safe Case to lithium-ion battery recycler Heritage Battery Recycling (HBR), a new platform company of The Heritage Group, for the safe transportation logistics of HBR’s battery collection operations across North America. (Earlier post.)
HBR, through its sister companies, maintains access to over 100,000 customer locations, 2,500 employees, and a fleet of over 1,300 power units and 108 facility locations across North America.
Based upon successful solutions for NASA that were deployed on the International Space Station for safely storing laptop lithium-ion batteries, the KULR-Tech Safe Case is one of the company’s recently leading product lines entering into commercial markets.
By way of their patented, NASA-proven Thermal Runaway Shield technology, KULR is the only company with a product approved by the US Department of Transportation for storage and transport of lithium-ion batteries that can manage up to a capacity of 2.1 kWh for recycled, prototype and DDR (damaged, defective and recall) batteries.
The KULR-Tech Safe Case is also designed to be reusable.
The market size for lithium-ion batteries is forecasted to exceed $116 billion by 2030 with a projected CAGR of 12.3% from 2021 to 2030, according to a 2021 report by Research and Markets. Growing adoption of electric vehicles along with declining prices of lithium-ion batteries — coupled with government initiatives to promote sustainable energy utilization, will drive the lithium-ion battery market size.