KULR Technology Group, Inc., listed on the American Stock Exchange under the ticker symbol KULR, reported a significant development on Wednesday as its shares experienced a notable increase. This upward movement followed the announcement that KULR had secured a preferred battery supply agreement spanning five years with Caban Energy, a company specializing in renewable energy services and technology aimed at essential infrastructure solutions.
Under the terms of this agreement, KULR is expected to serve as a preferred provider of battery solutions to Caban Energy, focusing primarily on lithium-based battery technology. The partnership is anticipated to yield approximately $30 million in total revenue starting in the year 2026, reflecting a strategic effort by KULR to expand its offerings within energy storage markets tied to digital infrastructure and telecommunications.
Integral to the agreement is KULR's assumption of operational control over manufacturing assets previously owned by Caban Energy, located in Plano, Texas. This acquisition not only bolsters KULR's manufacturing capabilities within the United States but also aims to expedite the firm's growth across communications, fiber-optic, and data-center energy storage sectors.
Industry demand for dependable and efficient energy storage systems is on the rise, especially in areas supporting mission-critical network functions. Among these needs are backup power solutions for telecommunications infrastructure, a sector that KULR is strategically positioning itself to serve through this collaboration. The company’s leadership has indicated that the supplier status and expansion of manufacturing capacity are intended to improve development pipelines and enhance production throughput. The goal is to enable delivery of energy systems at scale, thus meeting growing customer demand.
Examining the recent technical market indicators for KULR’s stock, the shares are trading approximately 21.7% above their 20-day simple moving average (SMA) and 4.1% above the 100-day SMA. These figures suggest a short-term bullish trend for the company’s stock. However, on a longer-term scale, the stock remains 33.2% below its 200-day SMA, signaling potential underlying weakness that tempers an unqualified positive assessment.
The relative strength index (RSI), which is a momentum oscillator, rests at 51.83, a value considered to reflect neutral market sentiment without significant overbought or oversold conditions. Additionally, the moving average convergence divergence (MACD) indicator remains above its signal line, consistent with some bullish momentum. These technical markers collectively indicate that while there is upward price movement, it is yet to develop into a definitive and strong trend reversal.
According to the Benzinga Edge momentum score, which assesses stock performance relative to broader market movements, KULR holds a high score of 83 out of 100. This ranking suggests that the stock is currently outperforming many peers based on momentum, aligning with its recent price appreciation of approximately 19.71% to $4.13 as of Wednesday’s trading session.
This supply agreement and operational expansion signify a pivotal moment in KULR’s corporate trajectory. By solidifying a multi-year relationship with Caban Energy, KULR is positioning itself to capitalize on the increasing demand for advanced energy storage solutions that are critical to maintaining the reliability of telecommunications and data infrastructure.
As the market continues to evolve with a focus on renewable and reliable energy systems, companies like KULR that integrate manufacturing capabilities with strategic partnerships are likely to influence the landscape. Yet, the mixed technical signals and longer-term price below key averages underscore the importance of monitoring how these strategic initiatives translate into sustained operational and financial performance.