KULR Technology Group, Inc. - KULR STOCK NEWS

KULR Technology Group, a leader in energy management solutions, has secured a $2.68 million contract as the exclusive supplier of its patented Passive Propagation Resistant (PPR) battery solutions. This represents the company's largest PPR deployment order to date. The contract supports a customer scaling their battery assembly operations while KULR expands its manufacturing capabilities in North America. The PPR technology has passed stringent safety certifications, allowing the customer’s battery systems to be used in occupied buildings. The stationary battery storage market is projected to exceed $870 billion by 2032, indicating significant growth potential for KULR.

KULR Technology Group, Inc. (NYSE American: KULR) reported strong preliminary financial results for Q4 2022, with estimated revenues of $1.81 million, marking a 137% increase from the previous year. The company achieved a gross margin of 80%, up from 70% year-over-year. Key operational highlights include securing an initial order exceeding $500,000 from a top-tier defense contractor, and collaborating with Lockheed Martin on battery safety testing. KULR also entered partnerships to enhance battery safety technology and launched a new vibration reduction service, KULR VIBE, demonstrating its commitment to innovation in energy management.

KULR Technology Group announced the issuance of United States Patent 11502352, enhancing its intellectual property portfolio related to its SafeCase products designed for safe lithium-ion battery storage and transportation. This patent marks the fourth issued for KULR’s Thermal Runaway Shield (TRS) technology. The company has also secured special permits from the Department of Transportation, expanding its market reach. The global lithium-ion battery market is projected to grow at a CAGR of 13.1%, reaching $135.1 billion by 2031.

KULR Technology Group (NYSE American: KULR) has announced the retention of Integrous Communications as its investor relations advisor to enhance investor reach and corporate communications. CEO Michael Mo emphasized the aim to improve communication of corporate and operational progress to shareholders, leveraging Integrous's extensive experience in investor relations. The partnership will focus on communicating financial and investor developments effectively within capital markets. KULR specializes in energy management solutions and thermal management technologies for batteries, targeting a sustainable electrification economy.

KULR Technology Group, a leading energy management platform, will participate in notable conferences in February 2023. The company will attend the Intersolar North America and Energy Storage North America Conference from February 14-16 in Long Beach, CA, showcasing its advancements in solar and energy storage. Additionally, KULR will join Baird's Vehicle Technology & Mobility Conference on February 15, focusing on vehicle electrification and mobility. These events aim to facilitate networking and provide insights into the energy transition, aligning with KULR's mission to enhance efficiency in sustainable electrification.

KULR Technology Group (NYSE American: KULR), a leader in energy management solutions, will showcase its KULR VIBE products at the 2023 Autonomous VTOL Technical Meeting from January 24-26, 2023, in Mesa, Arizona. This event, celebrating its 10th year, focuses on advancements in electric vertical takeoff and landing (eVTOL) aircraft and related technologies. KULR VIBE utilizes AI-driven software to mitigate vibrations, enhancing battery efficiency and longevity in various sectors, including aviation and renewable energy. Interested customers can arrange demonstrations for tailored solutions to vibration challenges.

KULR Technology Group (NYSE: KULR) is set to participate virtually in the 25th Annual Needham Growth Conference on January 12, 2023. CEO Michael Mo will engage in one-on-one meetings with qualified institutional investors, aiming to strengthen investor relations and showcase the company's commitment to advancing energy management solutions.

As a leader in the electrification economy, KULR focuses on innovative carbon fiber thermal management technologies for batteries and electronic systems, promoting sustainability and efficiency.

KULR Technology Group (NYSE American: KULR) has partnered with Theory Racing, a leading Enduro racing team, to enhance battery safety technology for e-bikes. This collaboration follows the upcoming launch of KULR's new modular energy storage platform, KULR ONE, at CES 2023. The partnership aims to leverage NASA-proven thermal management solutions to optimize battery performance in e-bikes. The global battery management system market is projected to exceed USD 35.14 billion by 2030, growing at a CAGR of 21.22%.

KULR Technology Group, a leader in energy management, will introduce its new modular energy platform, KULR ONE, at CES 2023 (Jan. 5-8). The company will showcase its cutting-edge solutions, including KULR VIBE, SafeCase, and CellCheck, at booth #6357 in Las Vegas. Notable racing legends Mario and Marco Andretti will participate in meet-and-greets at the booth, promoting KULR's sponsorship of the Indy 500. Visitors can enter a raffle for tickets to the event. KULR aims to drive sustainability and efficiency in the electrification economy.