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KULR Technology Group, Inc. - $KULR STOCK NEWS

Welcome to our dedicated page for KULR Technology Group news (Ticker: $KULR), a resource for investors and traders seeking the latest updates and insights on KULR Technology Group stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect KULR Technology Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of KULR Technology Group's position in the market.

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KULR Technology Group announced that CEO Michael Mo has voluntarily reduced his cash salary by 33%, advocating for a shift towards equity incentives. This change aligns his compensation with shareholder interests, as the equity grant will not vest for 12 months. The move supports the company's strategy to cut cash consumption, having already reduced operating and investment cash usage by 23% in Q1 2024 compared to Q1 2023. Mo expressed confidence in KULR's potential in the space, military, and industrial battery markets, highlighting early successes of the KULR ONE platform. Further details are available in the company's Form 8-K filed with the SEC.

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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.

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Rhea-AI Summary

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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KULR Technology Group, Inc.

NYSE:KULR

KULR Rankings

KULR Stock Data

66.75M
122.64M
27.97%
4.44%
9.16%
Optical Instrument and Lens Manufacturing
Manufacturing
Link
United States of America
SAN DIEGO

About KULR

as the world of electronics demands increasing processing power and further miniaturization and transportation into electrification, kulr’s disruptive, game-changing thermal management technology strives to solve the challenge of keeping electronics cooler, lighter, and safer in an ethical and environmentally sustainable manner. we aim to revolutionize this $7.5 billion a year industry. kulr’s proprietary carbon fiber-based architecture replaces less efficient aluminum and copper based heat spreaders and exchangers, which are energy intensive, less environmentally friendly to produce. carbon fiber thermal interface materials are superior alternatives to particle based thermal interface materials for higher performance, lower contact pressure, higher compliance, and longer reliability.