KULR Technology Group Inc (NYSE:KULR) announced that it has shipped prototypes of a core component in the sensing of electrical nerve signals to control navigation through virtual environments to a major original equipment manufacturer (OEM) of hardware and software to the Metaverse.
The OEM, a multinational technology conglomerate, selected KULR’s proprietary carbon fiber solution due to its superior thermal and electrical qualities, as well as its comfort on the skin, the company said.
“We are excited to apply our carbon fiber substrate in new emerging applications such as biosensing for the Metaverse,” CEO Michael Mo said in a statement. “We have prior experience in this area working with Yale University researchers using similar carbon fiber materials to detect electric pulse signals from the brain.”
He continued, “We believe there are more opportunities to apply our design and processing capabilities, beyond thermal management and battery safety, around vertically oriented carbon fiber as a foundational platform to build exciting new applications.”
KULR cited a March report by Citi arguing that Metaverse users should increasingly be able to access a host of use cases, including commerce, art, media, advertising, healthcare and social collaboration.
A device-agnostic Metaverse would be accessible by personal computers, game consoles, and smartphones, which KULR noted would result in a large ecosystem. Using this broad definition, Citi forecast the total addressable market for the Metaverse to be between $8 trillion and $13 trillion by 2030, with total Metaverse users numbering around five billion.
KULR’s core thermal energy management solution is based on its proprietary carbon fiber velvet, in which the fiber packing density and orientation serve a wide range of applications, including challenging thermal and chemical environments, sliding interfaces and interfaces with wide varying gaps, the company said.
The company is also exploring new battery configurations where its carbon fiber velvet can increase energy density, provide faster charging capabilities and enhance solid-state battery performances.
KULR develops carbon fiber thermal management technologies for batteries and electronic systems. It leverages its roots in developing breakthrough cooling solutions for NASA space missions and a strong IP portfolio, to enable aerospace, electronics, energy storage, electric car and 5G infrastructure companies to make their products cooler, lighter and safer for consumers.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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