KULR Technology Group, Inc. - KULR STOCK NEWS

KULR Technology Group (OTCQB:KULR) announced a collaboration with CSA Group to establish a new battery safety testing procedure, titled C22.2 No. 350 Test Method for Safety and Performance of Thermal Barriers. This partnership aims to enhance battery safety standards and addresses increasing concerns over lithium battery fires, highlighted by incidents involving UPS and FedEx. KULR's passive propagation resistant technology aims to prevent thermal runaway in lithium-ion batteries. Their safety solutions have received validation from significant regulatory agencies, emphasizing the company's commitment to improving safety in energy storage and transportation.

KULR Technology Group Inc. announces the appointment of Dr. Joanna D. Massey as an independent director, significantly enhancing its board's expertise. Dr. Massey, with over 25 years in media and digital technology, has held senior roles at Fortune 500 companies including Lions Gate Entertainment. This strategic move aligns with KULR's efforts to strengthen corporate governance and aims for uplisting to a national securities exchange. Dr. Massey expressed enthusiasm for contributing to KULR's growth in thermal management and battery safety sectors, especially amid increasing clean energy demands.

KULR Technology Group (OTCQB: KULR) will present its innovative thermal management technologies at the 13th annual LD Micro Main Event on December 15, 2020, at 11:20 a.m. EST. CEO Michael Mo will discuss recent strategic developments in a live virtual format. The conference will also feature short presentations followed by Q&A sessions with investors and analysts. This new approach aims to create an engaging experience for both executives and attendees, as noted by LD Micro's founder, Chris Lahiji. For registration, visit here.

KULR Technology Group reported its third-quarter results for 2020, revealing revenues of $136,849, a 74% decline year-over-year, attributed to delays in a significant DOD contract. The company's cash balance increased to $2,809,656, reflecting successful capital raises totaling $3,695,000. Despite increased SG&A expenses and an operating loss of $810,520, KULR secured partnerships with major firms like NASA and Airbus. The company anticipates improved revenue from partnerships in 2021 as they aim to transition towards total systems solutions amidst a growing clean energy focus.

KULR Technology Group has entered a memorandum of understanding with a leading global electronics component manufacturer to enhance battery safety and efficiency.

This partnership focuses on KULR's Internal Short Circuit (ISC) battery testing technology and its Thermal Runaway Shield (TRS) technology. KULR will provide ISC devices and license its intellectual property to improve the safety of batteries used in consumer electronics, electric mobility, and energy storage.

The collaboration aims to advance battery reliability for a partner recognized in the smartphone industry.

KULR Technology Group has supplied its internal short circuit (ISC) technology to the FAA to enhance lithium-ion battery safety in aviation. This comes in response to frequent incidents involving lithium batteries, reported at an average of once every eight days since January 2017. KULR's ISC device, developed with NASA, effectively simulates internal short circuits to identify battery failures. The company aims to improve battery safety designs and has received recognition for its innovative technology, including the R&D100 Award.

KULR Technology Group announced that CEO Michael Mo will present at the Building the Electric Vehicle Future webinar on October 22, 2020, hosted by Maxim Group LLC and M-Vest. This panel discussion will feature key voices in the EV industry and focus on how companies can capitalize on long-term growth in the sector. Participants can engage directly by posing questions during the event. KULR develops advanced thermal management technologies for various industries, including electric vehicles, ensuring enhanced safety and efficiency.

KULR Technology Group announces a partnership with Airbus Defense and Space to enhance battery safety through KULR’s passive propagation resistant (PPR) battery design solutions. The collaboration aims at research into lithium-ion battery testing for flight applications. KULR's PPR technology integrates several advanced features to prevent thermal runaway incidents in batteries, which are critical for aerospace applications. The partnership reflects KULR's commitment to battery safety in commercial and consumer markets while leveraging its expertise in carbon fiber thermal management.

KULR Technology Group has expanded its partnership with NASA by supplying safe storage solutions for Microsoft Surface Pro 5 laptops used on the International Space Station. This includes the company's passive propagation resistant Thermal Runaway Shield (TRS) technology, which mitigates lithium-ion battery fire risks. Testing showed significant efficacy improvements in thermal runaway prevention. KULR's technology aligns with NASA's safety standards and furthers its commercialization efforts in consumer markets. The announcement underscores KULR's longstanding collaboration with NASA on various space missions.