KULR Technology shares surge 16.53% after-hours on $30M battery supply deal with Caban Energy and U.S. manufacturing expansion.

KULR Technology Group surged 16.53% in after-hours trading following the announcement of a five-year preferred battery supply agreement with Caban Energy, valued at $30 million in revenue starting 2026. The deal, which includes acquiring Caban’s Plano, Texas manufacturing assets, strengthens KULR’s U.S. production footprint and positions the company to expand into telecom, data-center, and aerospace energy-storage markets. The agreement aligns with growing demand for mission-critical backup power solutions, particularly for 5G infrastructure and AI data centers. CEO Michael Mo emphasized the strategic importance of the supplier award and manufacturing expansion in scaling operations. The move also reflects KULR’s focus on leveraging its battery technology for high-performance applications, reinforcing its growth trajectory amid a challenging market environment.