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KULR Technology Group Inc is a leading energy management platform company that focuses on developing and commercializing high-performance thermal management technologies for electronics, batteries, and other components. The company aims to revolutionize the $7.5 billion thermal management industry by offering carbon fiber-based architecture that replaces less efficient aluminum and copper heat spreaders and exchangers. KULR's proprietary carbon fiber thermal interface materials provide higher performance, lower contact pressure, higher compliance, and longer reliability compared to traditional materials. The company is actively involved in partnerships, such as the recent contract with BRP, to advance its thermal management solutions for e-mobility products and regulatory compliance.
KULR Technology Group has announced a significant annual subscription agreement with an American-based helicopter operator to deliver global maintenance support for its extensive fleet of over 250 helicopters. This contract enables the operator to use KULR's proprietary AI-driven vibration reduction solution, KULR VIBE, which helps mitigate excessive vibrations, improving operational efficiency and safety. This agreement follows KULR's successful diagnostic work on military helicopters, underscoring its role in enhancing flight readiness across various aviation sectors.
KULR Technology Group (NYSE American: KULR) has launched its CellCheck Battery Monitoring System on Azure Cloud, enhancing battery safety and performance through real-time data analysis. This next-generation technology captures critical battery information, enabling users to monitor health remotely. KULR’s CellCheck aims to tap into the $44 billion lithium-ion battery market. The company will showcase this innovative solution at the 2023 Consumer Electronics Show in Las Vegas from January 5-8, 2023.
KULR Technology Group (NYSE American: KULR) announced the expansion of its KULR VIBE vibration reduction solution, integrating a new scalable AI server platform powered by NVIDIA accelerators. This upgrade aims to enhance data security, processing speeds, and remote access for enterprise clients. The KULR VIBE suite has historically served the aviation industry and is now set to improve operations across diverse sectors, including renewable energy and autonomous systems. CEO Michael Mo emphasizes the importance of these advancements for ensuring competitive performance and safety in high-performance machines.
KULR Technology Group (NYSE American: KULR) announced operational readiness for its Fractional Thermal Runaway Calorimeter (FTRC) after signing a commercial licensing agreement with NASA. This license enables KULR to provide advanced battery safety and testing solutions, particularly for 18650 and 21700 Lithium-ion cells, enhancing its position in battery management systems. The FTRC, developed from NASA technology, measures heat release during thermal runaways, helping improve battery safety and efficiency.
KULR Technology Group (NYSE American: KULR) is set to participate in key conferences in December 2022. The company will attend the 22nd Annual Advanced Automotive Battery Conference from December 5-8 in Coronado, CA, where it will present on Big Data and Battery Development. Additionally, KULR will engage in the Janney Energy Transition Forum on December 13-14 in San Francisco. KULR focuses on energy management solutions, bolstering efforts for a sustainable electrification economy.
KULR Technology Group has launched The Energy Solutions Today Podcast, hosted by David Meltzer, to explore battery safety, sustainability, and thermal management technologies. The podcast aims to engage leaders in the electrification movement in discussions about innovative ideas and initiatives addressing energy management and renewable energy solutions. The inaugural episode features CEO Michael Mo, emphasizing the urgent need for sustainable practices as the world transitions to electric mobility. The podcast will release episodes quarterly, accessible on KULR's website and major podcast platforms.
KULR Technology Group, Inc. (NYSE American: KULR) announced the launch of its CubeSat Lithium-ion battery pack, meeting NASA's JSC 20793 safety standards. This development reinforces KULR's longstanding collaboration with NASA, supporting missions like Artemis and the Mars Rover. The new battery pack, designed with high-performance Molicel cells, includes advanced thermal management technologies and is expected to begin consumer orders in Q1 2023. KULR aims to leverage this innovation for both space applications and commercial electric vehicle markets.
KULR Technology Group has entered an agreement to provide its internal short circuit (ISC) battery safety device to the largest U.S. automotive manufacturer. This technology can reliably induce thermal runaway in lithium-ion batteries, allowing better identification of failure causes. The ISC device enhances testing processes for next-generation electric vehicle (EV) batteries, promoting reliability and safety. KULR's ISC testing technology has received accolades, including a R&D 100 Award in 2016 and a runner-up recognition from NASA in 2017.
KULR Technology Group, Inc. (NYSE American: KULR) reported significant revenue growth for Q3 2022, achieving $1.4 million compared to $0.6 million in Q3 2021, driven by increased contract services and product sales. However, gross margins fell to 33% from 74% due to rising labor and shipping costs. Operating loss increased to $5.0 million, with a net loss of $5.6 million, or $0.05 per share. Despite these challenges, KULR highlighted strong cash reserves of $16.2 million and secured key contracts, including orders from major defense and commercial customers, positioning itself for future growth.
KULR Technology Group announced its participation in the SAE G-27 Lithium Battery Packaging Performance Committee meeting in San Diego from November 8-11, 2022. The meeting aims to enhance safety standards for lithium-ion battery transport via aircraft, promoting innovation in packaging regulations. KULR will showcase its battery safety solutions, including SafeCase, a reusable storage option that complies with aviation regulations. This event also allows KULR to connect with key industry stakeholders to further drive safety and regulatory improvements in lithium battery transport.
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