KULR Technology Group, Inc. - KULR STOCK NEWS

KULR Technology Group (NYSE American: KULR) reported its Q2 2022 results, revealing a slight revenue dip to $588,000 from $628,000 year-over-year, attributed mainly to lower contract services. Despite this, the company secured UPS shipping certification for its Safe Case products and established critical partnerships, including a follow-on order from Lockheed Martin. Operating loss increased to $5.2 million, highlighting rising expenses in R&D and SG&A, with a net loss of $5.3 million or $0.05 per share.

KULR Technology Group (NYSE American: KULR) will participate in three key conferences in August 2022, focusing on lithium-ion battery safety and management.

The events include the Soteria Advanced Battery Software Meet & Greet on August 4, discussing software's role in battery performance; the Annual Small Satellite Conference on August 10, addressing thermal runaway protection in cube sat batteries; and the Thermal Management Exposition on August 30, highlighting innovations in battery cooling technologies.

KULR Technology Group, Inc. (NYSE: KULR) will hold a conference call on August 15, 2022, at 4:30 p.m. ET to discuss its Q2 financial results. The call will follow a press release with detailed financial data and will include a Q&A session with management. Investors can access the call by dialing 855-459-0165 with access code 361411. The conference will also be available for replay on the company’s investor relations website.

KULR Technology Group, Inc. (KULR) has placed an initial order for over 75 megawatt hours (MWh) of lithium-ion battery cell capacity from E-One Moli Energy Corporation (Molicel). This strategic partnership aims to enhance KULR's production and supply chain localization initiatives in North America, with a total expected purchase of 700 MWh. The collaboration is pivotal for KULR's growth strategy, as it positions the company to leverage advanced battery technologies for high-value applications, targeting markets like aerospace, energy storage, and electric vehicles, with potential revenue exceeding $350 million.

KULR Technology Group (NYSE American: KULR) has secured a follow-on order for its innovative phase change material (PCM) heat sink technology from Lockheed Martin (NYSE: LMT). This technology enhances thermal management, prolonging the lifespan of critical components in high-performance devices. KULR's President, Keith Cochran, emphasized the company's expertise in meeting stringent military standards. The partnership with Lockheed Martin underscores KULR's commitment to advancing thermal solutions in aerospace and defense, where reliability and performance are paramount.

KULR Technology Group, Inc. (NYSE American: KULR) announced its inclusion in the Russell Microcap® Index, effective June 27, 2022. This membership, lasting for one year, will enhance KULR's equity profile and broaden its institutional investor base. KULR develops advanced lithium-ion battery safety and thermal management technologies designed for various applications, including aerospace and electric vehicles. With $12 trillion in assets benchmarked against Russell indexes, this milestone is significant for KULR as it progresses since its uplisting to the NYSE.

KULR Technology Group (NYSE American: KULR) announced it will co-host the Battery Safety, Recycling, and Circular Economy Forum on June 6, 2022, in Wixom, MI. This event aims to enhance awareness of safe battery practices, energy storage, and recycling, fostering collaboration among customers and partners on innovative battery solutions. The forum will include educational sessions and facility tours, highlighting KULR's commitment to sustainability within the battery industry.

KULR Technology Group, Inc. (NYSE American: KULR) will participate in key conferences in May 2022, showcasing its innovations in lithium-ion battery safety and thermal management. As a sponsor of the 2022 Battery Electric Vehicle Thermal Management Innovation Conference, Dr. Will Walker will present on May 25 in Palo Alto, CA. Additionally, KULR will exhibit at the 2022 Space Tech Expo, featuring a presentation by Peter J. Hughes during a panel session on thermal management. KULR leverages its strong intellectual property portfolio to support industries such as aerospace and electric vehicles.

KULR Technology Group (NYSE American: KULR) announced its Q1 2022 financial results, reporting a revenue of $200,000, down from $418,000 year-over-year, primarily due to COVID-19 lockdowns in China. The company secured significant contracts with NASA and the Department of Defense, entering the Metaverse market with a multinational technology firm. Gross margins improved to 39%, while SG&A and R&D expenses increased significantly, leading to an operating loss of $4.2 million. The company aims to procure lithium-ion battery cells to meet anticipated demand, representing a potential $250-$350 million revenue opportunity.