KULR is set to acquire TECHTOM. The two companies have recently entered into a purchase agreement.
KULR Technology Group is known for its KULR Technology Corporation that develops and commercializes high-performance space-used thermal management technologies for electronics, batteries, and other components across an array of applications such as electric vehicles and autonomous driving etc. TECHTOM is a provider of automotive telematics solutions and electrical vehicle battery management technology in Japan.
Subject to various closing conditions, upon consummating the acquisition, TECHTOM will deliver KULR the following technology and business synergies to address customers’ needs in energy and data management for their next generation E-Mobility applications:
• Integration of software and hardware battery management systems (BMS) with high performance space-qualified battery safety and thermal management technology
• Collaboration on electric vehicle conversions towards E-buses and other electric public transportation vehicles
• Development of next generation telematics devices to serve the ride-sharing and car-sharing applications
• Access to the Japanese automotive market for KULR products
• An IP portfolio of 21 granted and 12 pending patents held by TECHTOM, and 8 granted and 7 pending patents held by KULR
According to the companies, two of the most important components of E-Mobility are energy and data, and these synergistic advantages establish the foundation for positioning the combined entities as key competitors in the growing global electric vehicle and E-Mobility markets.
Source: Press Release