KULR Technology Group (KULR) shares were rising past 9% in recent Wednesday trading after the company said it developed a new pyrolytic carbon electrode material in collaboration with Scripps Research Institute's Baran Lab.

The new material is a low-cost and robust alternative to traditional materials like reticulated vitreous carbon and glassy carbon, the company said.

Electrode innovation projects are critical for synthetic organic electrochemistry, which backs the production of pharmaceuticals, polymers, and other materials, KULR added.

Price: 2.62, Change: +0.22, Percent Change: +9.17