KULR Technology Rallies After Licensing Deal For Nuclear Technology: Retail Chatter Lights Up
KULR said the license would apply for laser-based nuclear fusion systems and small modular nuclear reactors.
FollowKULR Technology Group Inc. shares jumped about 10% on Tuesday after the firm signed a multi-million dollar licensing deal to provide advanced cathode fiber applications in nuclear reactors in Japan.
The Houston-based company said its licensed technology has been engineered to improve nuclear reactor safety, superior heat dissipation, and structural integrity.
KULR said the license would apply for laser-based nuclear fusion systems and small modular nuclear reactors.
“This licensing agreement . . . opens new opportunities for advancements in nuclear technology within Japan and the broader Asian market,” the company said in a statement.
According to Goldman Sachs estimates, artificial intelligence data centers will consume about 3% to 4% of global electricity by the decade's end, compared with 1% to 2% in 2024.
The expected surge in power demand has helped snap a stagnation in nuclear energy as tech giants such as Microsoft, Google, and Meta have signed agreements with nuclear power generators to power their respective data centers.
The company said its technology is set to play a pivotal role in addressing the challenges regarding the power demand spike.
Retail chatter around the stock remained largely bullish, with one user saying its growth potential is immense.
Another user hoped that the stock would hit $9 soon.
Earlier in December, KULR’s board had agreed to add Bitcoin as a primary asset in its treasury program and committed to allocating up to 90% of its surplus cash to buy the cryptocurrency.
Over the past year, the stock is down 32.7%.
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