KULR shares surge 20.72% intraday after securing $30M 5-year battery supply deal with Caban Energy and expanding U.S. manufacturing.

KULR Technology surged 20.72% intraday following the announcement of a $30 million five-year preferred battery supply agreement with Caban Energy, a Miami-based renewable energy firm. The deal, set to begin in 2026, includes KULR acquiring Caban’s Texas manufacturing assets and expands the company’s U.S. production capabilities in lithium-based batteries for digital infrastructure and telecom applications. The partnership also grants KULR first right of refusal for UL-certified battery products, reinforcing its strategy to scale into high-growth markets like data centers and 5G networks. Additional catalysts included the company pausing its equity offering program, signaling strong liquidity, and collaborations with a global battery-cell manufacturer to develop next-generation solutions for AI data centers. These developments collectively drove investor optimism about KULR’s revenue potential and market expansion.