KULR Technology Group, Inc. - KULR STOCK NEWS

KULR Technology Group (NYSE: KULR) reported a dramatic revenue increase of over 200% year-over-year for Q2 2021, totaling $0.6 million. The company raised $6.5 million in equity capital and strengthened its balance sheet with over $12 million in cash at quarter's end. Investment in technology developments continues, including a smart battery system and a battery screening automation system for defense clients. However, SG&A expenses surged by 556% to $2.8 million, contributing to an operating loss of $2.9 million, leading to a net loss of $3.0 million, compared to $0.4 million in 2020.

KULR Technology Group (NYSE American: KULR) will present at the Q3 Virtual Investor Summit on August 18, 2021. Michael Mo, the CEO, is scheduled to speak at 1:15 p.m. Eastern time and engage in one-on-one meetings with investors during the event. The presentation will be available for live streaming and later playback on their website. Registration is required for participation in the summit. KULR specializes in lithium-ion battery safety and thermal management technologies, catering to sectors such as aerospace, electronics, and electric vehicles.

KULR Technology Group reported a remarkable Q2 2021 revenue increase of over 200% year-over-year, reaching $620,000, compared to $201,128 in Q2 2020. For the first half of 2021, revenue surged over 250% to $1,030,000. Gross profit for Q2 2021 was estimated at $180,000, slightly up from $156,394 in the same quarter last year. The company's cash position stood strong at over $12.15 million. CEO Michael Mo emphasized expectations for continued growth driven by increased customer interest following recent Department of Transportation permits.

KULR Technology Group (NYSE American: KULR) announced the acquisition of its third special permit from the U.S. Department of Transportation (DoT) for transporting damaged, defective, or recalled lithium-ion batteries using its Thermal Runaway Shield (TRS) packaging. This strategic step enhances KULR's position in the safety battery market, following previous permits for prototype batteries and recycling. The permit, issued on July 23, 2021, supports the company's commitment to offering safe, sustainable battery solutions, addressing risks associated with damaged batteries in an increasingly digital society.

KULR Technology Group (NYSE American:KULR) will ring the closing bell on the NYSE on July 9, 2021, celebrating its successful up listing to the exchange. CEO Michael Mo, alongside the leadership team, will commemorate this milestone, emphasizing their commitment to innovate in e-mobility and energy storage. KULR develops advanced thermal management technologies for batteries, backed by its expertise in cooling solutions for NASA missions. This event marks a significant moment as the company positions itself for future growth during the electrification revolution.

KULR Technology Group (NYSE American:KULR) will present its innovative battery transportation solutions at the 11th Annual Battery Safety Summit on June 30, 2021. The company received U.S. Department of Transportation special permits for transporting recycled and prototype lithium-ion batteries up to 2.1 kWh. These permits enable shipping with reduced requirements, utilizing KULR's patented Thermal Runaway Shield technology, which enhances safety during transport. KULR aims to enhance battery safety across various industries and will showcase its solutions at the summit.

KULR Technology Group Inc. announced its inaugural Battery Solutions Day scheduled for September 21, 2021, from 1:00 p.m. to 2:30 p.m. EDT. This virtual event will showcase the company's advancements in lithium-ion battery safety and thermal management, including live customer demonstrations and new product developments. Attendees can participate in an interactive Q&A session with KULR executives. CEO Michael Mo emphasized the importance of this event for shareholder engagement as the company plans further product launches throughout the year.

KULR Technology Group has received a special permit from the U.S. Department of Transportation (DoT) allowing the transport of prototype lithium batteries on cargo aircraft. Issued on June 14, 2021, this permit enables KULR to package and ship these batteries safely, thereby enhancing logistics for the growing battery transportation market. This is the company's second permit in less than a month, validating its passive propagation resistant (PPR) technology. With increasing reliance on lithium batteries, this development supports innovation and safety in battery technology.

KULR Technology Group Inc. announced the appointment of Greg Provenzano as the new Vice President of Sales and Marketing on June 10, 2021. Provenzano brings over 35 years of experience, having previously served as SVP of Sales at Advanced Energy, where he significantly boosted revenues from $18M to $108M. His role at KULR will focus on enhancing sales strategies, targeting large volume applications, particularly in electric vehicles and aerospace. KULR develops cutting-edge thermal management technologies aimed at improving safety and efficiency in various industries.