PALM BEACH, Fla., Dec. 17, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The launch of communication satellites into space has become a cornerstone of modern technology, revolutionizing the way individuals, businesses, and governments connect and communicate across the globe. With increasing reliance on digital infrastructure, communication satellites serve as the backbone for seamless data transmission, bridging the gap between remote regions and urban centers to create a more interconnected and efficient world… and the market is expected to continue to grow in the coming years. A report from Allied Market Research projected that the global satellite communication market size is projected to reach $110.7 Billion by 2033, growing at a CAGR of 9.7% from 2024 to 2033. Communication satellites play a critical role in delivering internet access, broadcasting services, and mobile communications to regions where terrestrial networks are impractical or unavailable. From rural areas to developing nations, these satellites ensure that essential connectivity reaches underserved populations, fostering economic development, education, and social inclusion. Satellites provide essential communication networks for industries such as defense, emergency response, and transportation. In times of natural disasters, when traditional infrastructure is often compromised, satellite communication enables first responders and governments to coordinate relief efforts and ensure public safety. The ongoing deployment of communication satellites supports next-generation technologies like 5G, IoT (Internet of Things), and artificial intelligence. Satellites enable real-time data sharing between devices, empowering industries such as autonomous transportation, smart cities, and remote healthcare to function with greater efficiency and precision. Active companies in news today include: KULR Technology Group, Inc. (NYSE: KULR), Rocket Lab USA, Inc. (NASDAQ: RKLB), Northrop Grumman Corporation (NYSE: NOC), Virgin Galactic Holdings, Inc. (NYSE: SPCE), Planet Labs PBC (NYSE: PL).
Satellites power global media broadcasts, enabling billions to access news, entertainment, and education. Additionally, they support international trade by providing reliable communication networks for businesses, enabling secure data transfers, video conferencing, and cloud-based operations that keep the global economy thriving. For defense and intelligence operations, communication satellites are indispensable. They enable secure, real-time communications, surveillance, and monitoring, ensuring national security agencies can maintain operational readiness and respond to threats effectively. The importance of launching communication satellites into space cannot be overstated. As the demand for connectivity grows, satellites remain vital to expanding global access, fostering innovation, and ensuring the resilience of communication networks in an increasingly interconnected world.
KULR Technology Group, Inc. (NYSE American: KULR) Signs Service Agreement to Launch KULR ONE Space Battery - KULR Technology Group, Inc. (the "Company" or "KULR"), a leader in advanced energy management platforms, proudly announces its plans to launch the KULR ONE Space (K1S) battery via launch integrator Exolaunch on a SpaceX rideshare mission scheduled for 2026. This mission represents a pivotal milestone in KULR's ongoing commitment to developing safer and higher-performing battery systems tailored for space applications for a space battery market that is expected to grow from $3.9B to $6.35B by 2030 per Virtue Market Research.
This pathfinder mission will integrate multiple configurations of the KULR ONE Space (K1S) battery into a 6U SmallSat. A 6U SmallSat is a lightweight satellite with a standardized structure measuring approximately 10 cm x 20 cm x 30 cm, built using durable materials like aluminum or carbon-fiber composites to endure the extreme conditions of space. The K1S battery configurations have been carefully selected to demonstrate cell and pack performance, as well as electronic functionality in orbital environments. This mission will also validate the flight capabilities of the K1S, the first commercial-off-the-shelf (COTS) lithium-ion battery series engineered to fully comply with NASA’s JSC 20793 battery safety standard.
Key highlights of the K1S rideshare mission include:
- Integration of top cells from leading cell manufactures: The K1S variations will feature state-of-the-art 18650 cells delivered by top-tier original equipment manufacturers (OEMs), including LG, Samsung, Amprius, and MOLICEL.
- Utilization of cells strategically selected by NASA: One of the K1S systems incorporated into the mission will be constructed with MOLICEL 18650-M35A cells with associated NASA Initial Lot Assessment (ILA), Lot Acceptance Testing (LAT), and WI-37A Cell Screening, previously referred to by KULR as the “Golden Lot”.
- Incorporation of next generation low-temperature cell technology: If feasible, a version of the K1S architecture will include ultra-low-temperature performing cells capable of operating at -60°C without integrated heaters, further demonstrating KULR's innovative advancements.
- Advanced battery management system: The mission will also showcase KULR's newly developed battery management system (BMS) architecture, which provides a COTS solution designed to meet the stringent safety requirements of the 20793 standards.
- Gaining flight heritage for commercialized variations of safe battery architectures: The K1S batteries are engineered with passive propagation resistance and flame-arresting technology, delivering safer and higher-performing systems at a fraction of the cost compared to traditional 20793-compliant batteries. This rideshare mission will provide additional flight heritage to the architectures developed by the KULR team.
Dr. William Walker, KULR Chief Technology Officer, and Peter Hughes, KULR Vice President of Engineering, jointly stated, “the upcoming mission will serve as a platform to showcase the exceptional capabilities of KULR's cutting-edge battery solutions, reinforcing the Company’s position as a leader in advanced energy technologies for space and aerospace applications. The mission aligns with KULR’s ongoing efforts to revolutionize the space industry by offering reliable and high-performance energy solutions that meet the most stringent safety standards, all while reducing costs for customers.”
“We are excited to bring our KULR ONE Space batteries to orbit on this rideshare mission,” said Michael Mo, CEO of KULR Technology Group. “This mission underscores our commitment to providing safer, more efficient, and cost-effective battery solutions for the most demanding environments. With the integration of next-generation cells and our advanced BMS architecture, we are setting a new standard for COTS battery technology in space.” CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In other developments in the markets of note:
Rocket Lab USA, Inc. (NASDAQ: RKLB), a global leader in launch services and space systems, recently announced it successfully launched a suborbital mission in November to test hypersonic technology for the Department of Defense.
This mission provided hypersonic test launch capabilities under the Multi-Service Advanced Capability Hypersonics Test Bed (MACH-TB) project, which aims to increase hypersonic flight testing for the United States in support of technology maturation. The project was awarded by Naval Surface Warfare Center (NSWC) Crane through the Strategic and Spectrum Missions Advanced Resilient Trusted Systems (S2MARTS) Other Transaction Authority (OTA) vehicle on behalf of the U.S. Department of Defense Test Resource Management Center (TRMC). George Rumford, Director of the TRMC, states: "Leveraging commercial launch services allows our Nation to affordably test components early and frequently, accelerating hypersonic development."
Northrop Grumman Corporation (NYSE: NOC) recently announced that its board of directors has authorized an additional $3 billion for the repurchase of the company's common stock, increasing the outstanding authorized amount to approximately $4.2 billion. Share repurchases will take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions.
Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers’ toughest problems, our employees define possible every day.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) and Ente Nazionale per l'Aviazione Civile ("ENAC"), the civil aviation authority of Italy, recently announced the signing of an Agreement of Cooperation to jointly study the feasibility of Virgin Galactic conducting spaceflight operations from Grottaglie Spaceport in the Puglia region of Southern Italy.
The study will evaluate the necessary technical requirements for suborbital spaceflight operations at Grottaglie Spaceport, the surrounding area’s ability to support private and research suborbital spaceflight customers, and the compatibility of Italy’s suborbital regulations with those in the United States, where Virgin Galactic is headquartered.
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, recently announced financial results for the period ended October 31, 2024. "We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet’s largest ever quarter of ACV bookings, helping lay the foundation for future growth," said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson. "We continue to see strong demand for our data, particularly where enhanced with AI-enabled solutions. We also saw first light from our Tanager satellite, released the first set of over 300 CO2 and methane detections, and are progressing towards commercializing its hyperspectral data. The success of this program has led us to actively pursue other opportunities that similarly advance our technology roadmap while enhancing our financial position. Ultimately, we believe Planet is well positioned for growth going forward."
Ashley Johnson, Planet’s President and Chief Financial Officer, added, "We saw significant improvement in the fundamentals of the business during the quarter, as evident in the year-over-year and sequential improvement in margins, as well as the continued progress on our path to profitability. I’m pleased to confirm that we’re on track to achieve our target of Adjusted EBITDA profitability next quarter. Meanwhile, we’re reducing our cash burn and our balance sheet remains strong with approximately $242 million of cash, cash equivalents, and short-term investments as of the end of the quarter, and we continue to have no debt."
About FN Media Group:
At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases
Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia
Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup
Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty six hundred dollars for news coverage of the current press releases issued by KULR Technology Group, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com - +1(561)325-8757
SOURCE: FN Media Group
