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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 (KULR) reported a remarkable 267% revenue increase in Q4 2021, reaching $766,000, and a 287% growth for the full year, totaling $2.4 million. The company achieved a 70% gross margin in Q4, although down from 76% year-over-year. Significant investments were made in R&D and SG&A, leading to a Q4 operating loss of $4 million and a full-year net loss of $11.9 million. Cash reserves rose to $14.9 million, supporting future growth initiatives in battery safety and thermal management. KULR is focused on expanding in energy storage and mobility sectors.
KULR Technology Group has appointed Dr. William Walker as the new Director of Engineering, enhancing its thermal management capabilities for high-performance computing and hypersonic vehicles. Dr. Walker, previously a NASA Battery Thermal Engineer, brings expertise in lithium-ion battery safety and thermal management. His leadership is expected to propel KULR's development of battery safety technologies, particularly the Fractional Thermal Runaway Calorimeter. Michael Carpenter, the VP of Engineering, emphasized that Dr. Walker's experience will play a vital role in advancing KULR's engineering initiatives.
KULR Technology Group (NYSE American: KULR) announced its participation in three upcoming conferences in March 2022. The conferences include the 34th Annual Roth Conference in Dana Point, CA (March 13-15), A.G.P.’s Battery Metals Revolution Day (March 16), and the 39th International Battery Seminar in Orlando, FL (March 28-31). CEO Michael Mo will represent the company at these events. KULR specializes in lithium-ion battery safety and thermal management technologies, with applications in aerospace, electronics, and electric vehicles.
KULR Technology Group (NYSE American: KULR) will hold a conference call on March 17, 2022, at 4:30 p.m. ET to discuss its fourth-quarter and full-year financial results for 2021. The financial results will be released prior to the call. Interested parties can join by calling 857-232-0157, access code 422095. A replay will be available on KULR’s website.
As a key player in lithium-ion battery safety and thermal management, KULR continues to support industries including aerospace, electronics, and electric vehicles. For more info, visit www.KULRTechnology.com.
AUSTIN, Texas, Jan. 20, 2022 – KULR Technology Group (NYSE American: KULR) announced a significant three-year multi-million dollar order for its Passive Propagation Resistant (PPR) solution suite from Volta Energy Products, a Viridi Parente subsidiary. This development has attracted attention from research firms and the media, emphasizing KULR's innovative battery technology, which aims to enhance energy storage safety. The company's expertise in thermal management, linked to its NASA roots, positions it as a significant player in the energy storage and electric vehicle sectors.
KULR Technology Group (NYSE American: KULR) has introduced a new passive propagation resistant (PPR) solution in its KULR-Tech Safe Case product line aimed at meeting the upcoming safety regulations set by the U.S. Coast Guard for the passenger vessel market. This innovation enhances battery safety by preventing thermal runaway propagation and is applicable to cargo, fishing, and cruise sectors. The KULR-Tech Safe Case is reusable and integrates NASA-proven technology, supporting up to 2.1 kWh capacity for lithium-ion batteries, making it a significant development in maritime battery safety.
Viridi Parente, Inc. has raised
KULR Technology Group (NYSE American: KULR) has received a three-year, multi-million dollar deployment order for its Passive Propagation Resistant (PPR) solution from Volta Energy Products, a subsidiary of Viridi Parente. The initial order, worth approximately $1.6 million, focuses on stationary and mobile lithium-ion battery power systems. This marks KULR’s first commercial deployment of the PPR technology, which includes the patented thermal runaway shield product. The partnership aims to enhance the safety and efficiency of energy storage solutions.
KULR Technology Group, a leader in lithium-ion battery safety technologies, will host the SAE G-27 committee on lithium battery packaging in San Diego in late 2022. This event aims to enhance safety standards for transporting lithium batteries on aircraft, crucial for promoting sustainable energy use. CEO Michael Mo emphasized collaboration with regulators to improve battery safety technologies. The SAE G-27 committee develops standards for safe lithium battery shipment, working with various international organizations to mitigate fire risks during air transport.
KULR Technology Group, a leader in lithium-ion battery safety and thermal management, has acquired patented IP rights from Centropy AB. This acquisition enhances KULR's offerings in advanced carbon fiber heatsink technology for high power computing applications, specifically targeting areas like cloud computing and crypto mining. The integration of Centropy's cooling solutions aims to improve operational efficiency for crypto miners, addressing significant cost components. The CEOs of both companies express optimism about the collaboration, emphasizing the potential for synergy and commercialization of advanced thermal management technologies.
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