KULR Technology Group, Inc. - KULR STOCK NEWS

KULR Technology Group, Inc. (NYSE American: KULR) has been awarded an initial contract for the accelerated development, testing, and production of a leading-edge space battery for a prominent privately held space hardware and in-space services company. The initial six figure engagement is anticipated to grow into a multi-million-dollar partnership for expanded production in 2024. This significant award demonstrates the aerospace industry’s continued confidence in KULR’s advanced battery design capabilities, particularly for critical applications in the defense and aerospace sectors. KULR’s battery technology is not only radiation-hardened but also aligns with the company’s space-grade design methodology and stringent test protocols that meet NASA standards for manned spaceflight. The company's expertise and innovation ensure the battery design is scalable, broadening its applicability for the expanding range of battery projects in satellite and crewed space missions. The potential for KULR’s contribution to space technology continues to grow, as does its role in advancing the boundaries of aerospace engineering and design.

KULR Technology Group, Inc. (NYSE American: KULR) and ParaZero Technologies Ltd. (Nasdaq: PRZO) have announced a partnership to integrate KULR's vibration reduction technology with ParaZero's SafeAir and SmartAir Trinity solutions to enhance drone performance and safety. The collaboration aims to increase operational efficiency and safety within the defense industry, with potential applications in eVTOL aircrafts and unmanned aircraft systems. KULR VIBE's technology has a proven track record in serving the United States Department of Defense and has demonstrated significant reductions in vibrations for various rotorcraft systems.

KULR Technology Group, Inc. (NYSE: KULR) announces a follow-on contract from a leading Department of Defense contractor for advanced thermal management systems in a next-generation air-to-air missile program. The multi-year engagement has an estimated total contract value of over $8 million, reinforcing KULR's position in the defense sector and highlighting the potential for growth in similar fields. KULR's innovative Fiber Thermal Interface materials, designed and produced in the USA, address thermal management challenges in high-power systems, promising increased power densities, thermal stability, and reliability, especially in harsh conditions. The global thermal interface materials market is forecasted to reach US$ 5.5 Billion by 2028, with factors such as increasing demand for efficient thermal management solutions and rapid technological advancements in semiconductor technology driving the market's growth.

KULR Technology Group, Inc. (NYSE American: KULR) announces a $6-7 million contract with a Tier-1 aerospace and defense manufacturer for the development of a Phase Change Material Module (PCMM) for space environments.

KULR Technology Group, Inc. (NYSE American: KULR) reported a significant increase in revenue for the third quarter of 2023, with revenues more than doubling compared to the same period last year. The company also saw improvements in gross margins but experienced increased operating and net losses. KULR's Chief Financial Officer highlighted the record-breaking quarter and a renewed focus on capital allocation, while the President and Chief Operating Officer expressed enthusiasm for the future.

KULR Technology Group, Inc. (NYSE American: KULR) announced its participation on the Webull Corporate Connect Service (CCS) platform, offering shareholders and investors instant notifications on company news, updates, earnings reports, and more. President and COO Keith Cochran highlighted the importance of retail investors and the company's commitment to transparency and communication.

KULR Technology Group, Inc. will hold a conference call on November 14th to discuss its financial results for the third quarter of 2023. The call will be hosted by KULR management and will include a question-and-answer period. The conference call will be available for replay on KULR's website.

KULR Technology Group, Inc. has announced an extension to its contract with the United States Army for the development of next generation lithium-ion battery cells. The collaboration will continue through 2024 and showcases the trust placed in KULR's technology by the Army. In addition, KULR has become the sole provider of an automated cell screening effort for NASA.

KULR Technology Group has received a contract from a top-5 American electric truck manufacturer to develop newer and safer batteries for its next generation fleet. The manufacturer has publicly forecasted a substantial ramp-up in production of its electric truck next year with KULR's battery performance to distinguish itself from rivals and unlock expected growth. The U.S. electric truck market is expected to reach $15 billion by 2030 with a 54% CAGR.