A Thermal Management Business Heating Up in Aerospace with New Applications Ahead

Key Points

  • KULR is a leading provider of thermal management solutions for battery safety, offering carbon fiber-based customized thermal solutions for several applications and industries, led by aerospace.
  • Within the company’s traditional applications in aerospace and defense, KULR believes there is a significant opportunity to gain market share and drive revenue.
  • Emerging applications in high-growth markets such as EVs and cloud computing could provide the next stage of growth.
  • KULR is focusing on lowering the cost and expanding the commercialization of its technology platform.
  • The company recently added Keith Cochran as its new president and chief operating officer to help execute the LT commercialization strategy.
  • KULR is well entrenched with key government entities, including NASA and the Department of Defense.

Our Insights

The Opportunities

KULR is uniquely positioned within key parts of the aerospace and defense sector. The company has long-standing relationships that offer ample opportunity to expand and grow market share. Furthermore, the company has been expanding into other key growth markets, including battery safety for EVs and lithium-ion battery transport. Cost reduction is crucial, and the company is taking steps to lower costs and build a commercialization strategy for its technology platforms. This would be a critical step in expanding its total available market and developing new customer relationships and applications.

The Obstacles

The company has a relatively high customer concentration, and diversifying will be critical. Additionally, it is only in the early stages of larger-scale commercialization efforts, so the model still needs to be proven.