KULR Technology Group, Inc. (KULR) shares surged Wednesday after announcing a significant battery supply partnership that comes with a manufacturing facility to boot.

The Battery Deal Breaking Down

KULR secured a five-year preferred supplier agreement with Caban Energy that's expected to generate approximately $30 million in total revenue beginning in 2026. That's not pocket change for a company looking to expand its footprint in the energy storage space.

Here's where it gets interesting: KULR will supply batteries to Caban Energy, a renewable energy services and technology company that focuses on critical infrastructure solutions. The partnership pushes KULR deeper into lithium-based battery solutions for digital infrastructure and telecommunications applications, which is where the real growth opportunities live.

But wait, there's more. As part of the agreement, KULR took control of Caban's manufacturing assets in Plano, Texas. That's a strategic move that beefs up KULR's U.S. manufacturing capabilities and positions the company to accelerate its expansion into communications, fiber, and data center energy storage markets.

The deal makes sense when you consider the growing demand for reliable, high-performance energy storage systems. Mission-critical network operations need backup power, and telecommunications infrastructure can't afford downtime. KULR is betting it can capture a meaningful slice of that market.

KULR CEO Michael Mo said the supplier award and manufacturing expansion are designed to increase development and production throughput, supporting the delivery of energy systems at scale for customers. Translation: they want to make more batteries faster for more clients.

What The Charts Are Saying

The technical picture for KULR shows a mixed bag. The stock is trading 21.7% above its 20-day simple moving average and 4.1% above its 100-day SMA, which suggests short-term bullish momentum. But it's still sitting 33.2% below its 200-day SMA, indicating longer-term weakness hasn't fully resolved.

The RSI sits at 51.83, firmly in neutral territory, while the MACD is above its signal line, pointing to bullish momentum. These indicators suggest positive momentum is building, but it's not quite strong enough yet to call this a definitive trend reversal.

KULR has a momentum score of 83 out of 100, meaning the stock is outperforming the broader market in terms of underlying momentum.

KULR Price Action: KULR Technology shares jumped 19.71% to $4.13 at the time of publication Wednesday.