KULR Technology Group Inc (NYSE:KULR) said it has received two orders from a leading Fortune 20 e-commerce and cloud computing company for its next-generation lithium-ion battery-powered commercial drone delivery fleet.
The company said the first order was for the proof of concept of KULR’s design and the second follow-on was for prototype, field testing, and certification trials. Pre-production is scheduled for 2023 with full ramp-up set to start in the second half of 2024.
In a statement, KULR’s VP of sales and marketing Greg Provenzano said this project "dovetails nicely" with the company’s focus on specific high-growth markets where its differentiated products provide a design and production solution for safety and performance.
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“Drone delivery is still in its early innings and e-commerce companies will only continue to implement this form of delivery logistics into their platforms as the commercial drone ecosystem continues to build out,” Provenzano said.
The company noted that, according to McKinsey & Company, as of early 2022 estimated daily drone deliveries were 2,000 worldwide, with growth accelerating every week and projected to reach 1.5 million deliveries for the year, up from just under half a million deliveries in 2021.
KULR develops, manufactures, and licenses next-generation carbon fibre thermal management technologies for batteries and electronic systems.
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