The awarding of a patent can often lead to considerable optimism about a company and that is what seemed to have happened with KULR Technology Group Inc (OTCMKTS:KULR).
Yesterday, the company announced that it was awarded the patent for its Thermal Runaway Shield by the United States Patent and Trademark Office. The product is meant for reducing the risks in relation to the thermal runaway in lithium ion batteries. It is a significant development for the company and the market thought so as well.
After the announcement, the stock got a boost as well and ended the day with gains of 4%. In this regard, it is also necessary to point out that this is not the first patent that was awarded to KULR Technology. The latest patent brings the total number of patents it controls to three. It now remains to be seen if the stock comes into focus among investors this morning.