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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, 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.
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.
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