KULR Technology Group, Inc. - KULR STOCK NEWS

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.

KULR Technology Group (NYSE American: KULR) announced the shipment of prototypes for biosensing applications aimed at controlling navigation in virtual environments to a major OEM in the Metaverse. The company's proprietary carbon fiber solution has been selected for its thermal and electrical advantages. A Citi report predicts the Metaverse market could reach $8-$13 trillion by 2030, with around five billion users. KULR aims to leverage its expertise in carbon fiber technology for new applications beyond battery safety, enhancing energy density and charging capabilities.

KULR Technology Group (NYSE: KULR) announced a conference call on May 16, 2022, at 4:30 PM ET to discuss Q1 financial results. The call will follow a press release detailing these results. KULR, known for its lithium-ion battery safety technologies, plans to summarize its performance and engage in a Q&A session post-call.

Interested parties should dial in 10 minutes early. A replay will be available on the KULR website.

KULR Technology Group (NYSE American: KULR) announced its participation in the 7th Annual Oppenheimer Emerging Growth Conference on May 10, 2022. CEO Michael Mo will engage in virtual 1-on-1 meetings with investors. KULR specializes in next-generation lithium-ion battery safety and thermal management technologies, enhancing product safety for various industries including aerospace and electric vehicles. Interested parties can contact Gateway Investor Relations for additional information or to schedule meetings.

KULR Technology Group (KULR) announced its participation as a Gold Sponsor at the Energy Storage Systems Safety & Reliability Forum on May 4-5, 2022. Dr. William Walker, KULR's Director of Engineering, will present on battery safety during the event. The forum focuses on energy storage safety and reliability, highlighting the risks associated with thermal runaway in energy storage systems. KULR aims to share innovative solutions drawn from its engineering expertise, enhancing the safety of batteries in diverse sectors including aerospace and electric vehicles.

KULR Technology Group secured a significant contract with NASA to test lithium-ion cells for upcoming missions under the Artemis Program. The cells must meet NASA's EP-WI-037 certification for manned flights. KULR's advanced testing capabilities process up to 10,000 lithium-ion cells weekly, preparing them for automated tests essential for mission readiness. The company is optimistic about future testing awards through 2022, reinforcing its commitment to enhancing battery safety for space missions.

KULR Technology Group, Inc. (NYSE American: KULR) has secured three additional contracts with U.S. Department of Defense prime contractors for their carbon fiber cathode solution, aimed at enhancing high-power magnetic and covert pulse weaponry initiatives. These cathodes, known for their superior thermal absorption, can be customized for various applications, including microwaves and lasers. KULR's President, Keith Cochran, expressed pride in supporting U.S. Armed Forces through these technological advancements and anticipates further awards throughout 2022.