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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 will present at the FAA's Tenth Triennial International Fire and Cabin Safety Research Conference on October 19, 2022. Dr. William Walker, KULR’s Director of Engineering, will discuss the importance of a holistic battery safety strategy for electrical aviation. The conference, themed 'Going Green - The Effect on Aircraft Cabin and Fire Safety', aims to address safety challenges related to lithium-ion batteries in aviation. KULR's innovations, including their SafeCase solution, are crucial for enhancing battery transportation safety in electric aviation.
KULR Technology Group has joined NAATBatt International as a platinum member, enhancing its position in battery technology. This partnership allows KULR to engage with policy makers, develop innovative solutions, and optimize logistics in North America. CEO Michael Mo emphasized the company's commitment to advancing thermal safety solutions and localizing production. This membership follows KULR's procurement of 75MWh of lithium-ion battery capacity from Molicel, positioning itself as a key player in North America's battery supply chain.
KULR Technology Group received approval from the Department of Transportation to increase energy levels in its SafeCase product from 2.1 kWh to 2.5 kWh. This upgrade allows KULR to support a project with a major landscaping company for the safe shipment and storage of lithium-ion batteries used in electric vehicles. The approval signifies the safety and quality of KULR's offerings and is expected to expand usage cases for SafeCase with current and new clients. The landscaping equipment sector is projected to grow significantly, reaching USD 43.24 billion by 2029.
KULR Technology Group will present at The Battery Show on September 13, 2022, in Novi, Michigan. Sean Plasse, the Regional Vertical Market Manager, will discuss battery safety and sustainability in his presentation titled The Role of Safety in Building a Sustainable Circular Battery Economy.
The event, from September 13-15, 2022, is North America’s largest advanced battery and electric vehicle technologies trade show, showcasing innovative products and solutions. KULR develops cutting-edge thermal management technologies for batteries, enhancing safety and performance.
KULR Technology Group (NYSE American: KULR) has secured two significant orders from a Fortune 20 e-commerce and cloud computing company for its advanced Li-ion battery technology, aimed at enhancing commercial drone delivery services. The first order involves a proof of concept, while the second focuses on prototype testing and certification trials. Production is slated for 2023, with full-scale operations expected in late 2024. This initiative underscores KULR's commitment to improving safety and efficiency in drone operations, tapping into a rapidly growing market where drone deliveries are projected to surge significantly.
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.
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