Kulr Technology Stock Price, News & Analysis

KULR Technology Group (NYSE American: KULR) has secured an engineering contract with Bombardier Recreational Products (BRP) to provide Fractional Thermal Runaway Calorimetry (FTRC) testing services, enhancing battery safety in electric recreational products. This partnership aligns with KULR's ongoing efforts in safe battery design and regulatory compliance, particularly with the KULR ONE Design Solutions (K1-DS) platform. The global battery testing market is projected to reach $16.5 billion by 2030, positioning KULR advantageously.

Additionally, Vision Marine Technologies announced a patent for a high-voltage marine battery pack, while Polaris and SolarEdge are expanding their all-electric utility and recreational vehicle portfolios. These developments underscore the increasing emphasis on battery safety and performance in the evolving electric vehicle market.

KULR Technology Group has secured an engineering contract with Bombardier Recreational Products (BRP) for its Fractional Thermal Runaway Calorimetry (FTRC) testing services. This partnership emphasizes KULR's commitment to battery safety in the electric recreational products sector. KULR, known for its space and military battery designs, aims to expand its market to electric aviation, maritime, EV, and recreational vehicles. BRP's focus on thermal runaway management aligns with KULR's K1-DS platform, ensuring regulatory compliance and safety. KULR's FTRC technology, licensed from NASA, is pivotal in enhancing battery safety and reliability across industries.

KULR Technology Group (KULR) reported its financial results for Q1 2024. Revenue was stable at $1.75 million compared to $1.76 million in the same quarter last year. Contract services revenue saw a significant increase of 769%, reaching $1.13 million. However, gross margin dropped to 29% from 37%. SG&A expenses decreased to $4.21 million from $5.10 million, and R&D expenses also saw a reduction to $955 thousand from $1.81 million. Operating loss decreased to $4.66 million from $6.26 million, and net loss improved to $5.01 million, or $0.04 per share, from $6.60 million, or $0.06 per share. Key achievements include successful L-FTRC tests for EV customers, partnerships with UPS and Safeware, immediate battery deployments for AI-enabled drones in Ukraine, and customized battery solutions for the U.S. Army. KULR also expanded its SafeCASE application to eVTOL manufacturing and supported NASA's R5 program. Donna H. Grier was appointed to the Board of Directors.

KULR Technology Group, a global leader in energy storage solutions, launches the KULR Online Marketplace featuring Safe-X products, approved by the DoT for transportation by United Parcel Service. The marketplace offers SafeCASE and SafeSLEEVE products for safe battery transportation. KULR forms a strategic partnership with Safeware for distribution to the Hazmat community, aiming to provide advanced safety and thermal management technologies.

KULR Technology Group, Inc. (NYSE American: KULR) will hold an earnings call on May 15, 2024, to discuss financial results for the first quarter of 2024. Interested parties can submit questions prior to the call. The call will be hosted by KULR management and will include a Q&A session.

KULR Technology Group, Inc. has successfully completed large format fractional thermal runaway calorimetry tests for high energy lithium-ion cells, positioning itself as a leader in energy storage solutions. The company, a licensee of NASA technology, is uniquely equipped to serve customers in electric vehicles, grid energy storage, and industrial applications. With a potential market estimated at $7 billion by 2030, KULR's recent achievements underscore its commitment to safety and innovation in the EV battery sector.

KULR Technology Group, Inc. has regained compliance with NYSE American's listing standards, resolving a deficiency related to the low selling price of its common stock. The Company received notification from NYSE American on May 01, 2024, confirming the compliance. CEO Michael Mo expressed excitement over the news and emphasized the Company's commitment to enhancing stockholder value and long-term public valuation.

KULR Technology Group, Inc. supported NASA's R5 program by providing rapid technical aid and production assistance through its new Texas Battery Center of Excellence Facility. Within six hours, KULR developed a solution for a battery design challenge, showcasing their quick turnaround capabilities. KULR's services cater to the space industry's demand for lighter, longer-lasting, and safer battery technology, positioning the company well in the growing space economy.

Investorideas.com covers battery stocks, highlighting KULR Technology Group, Inc. (NYSE: KULR) in the evolution of batteries. Silicon-anode batteries show promise for higher energy density and faster charging. KULR partners with Amprius for defense and space applications, integrating innovative cells for superior energy density and discharge capability. The collaboration aims to meet stringent safety specifications. Enovix and SES AI also make advancements in battery technology. QuantumScape starts customer shipments of Alpha-2 prototype battery cells, a significant step towards commercial product delivery.