KULR and Worksport Partner to Boost Battery Tech and U.S. Manufacturing

CIOTechOutlook Team | Thursday, 13 February 2025, 18:56 IST

  • No Image

KULR Technology Group, Inc., a leader in advanced energy management platforms and Worksport Ltd. a pioneer in solar-integrated tonneau covers and portable energy storage, have announced a strategic partnership that is focused on advancing battery technology and fortifying homegrown manufacturing. The collaboration centers on 3 key areas such as joint battery pack development, thermal runaway protection and AI-integrated battery management system (BMS) software design.  

After expanding U.S. production in 2024, Worksport's revenue surged more than 450% from 2023 to 2024, surpassing a monthly run rate of $1 million. Projections indicate the company could reach nine figure revenues within the next two to three years. This collaboration with KULR should advance Worksport's goal of transforming the $20 billion-plus portable energy market through innovation and scalable manufacturing.

Through the integration of its advanced thermal management technology and AI-powered BMS into Worksport's products, KULR expects to open new revenue streams and establish a significant presence in the portable energy storage sector. The portable energy system market is projected to reach between $21.95 billion and $24.8 billion by 2032, per a Q4 2024 report by Astute Analytica, with an anticipated CAGR of 16% to over 24%. Battery solutions under 3000 kWh, such as the COR, are key drivers of this growth, particularly as off-grid and backup power needs continue to expand.

🍪 Do you like cookies?

We use cookies to ensure you get the best experience on our website. Read more...