KULR Technology Group, Inc. develops and commercializes energy-system and thermal-management technologies for high-power lithium battery applications. Company news centers on battery safety, certifiable battery systems and KULR ONE platforms used in space and defense programs, unmanned aircraft, electric aviation, hyperscale AI data centers, telecom infrastructure, e-mobility and other industrial electronics.
Recurring updates include earnings releases and conference calls, customer purchase orders, preferred supply agreements, joint-development collaborations, U.S.-based manufacturing initiatives, and governance changes. Product-specific items include KULR ONE Air batteries for UAV and UAM applications and KULR ONE MAX battery backup units for AI-scale data centers and high-power compute environments.
KULR Technology Group has announced its acquisition of VibeTech, enhancing its position as a vertically integrated energy management company. This move is aimed at accelerating the electrification of the circular economy. The newly launched KULR VIBE technology offers AI-driven vibration reduction solutions, addressing the energy losses caused by machinery vibrations. With a projected growth in the global vibration motor market from USD 6.5 billion in 2022 to USD 24.1 billion by 2032, this acquisition positions KULR for significant market expansion and efficiency improvements.
KULR Technology Group (NYSE American: KULR) has secured an initial deployment order exceeding $500,000 from a prominent Department of Defense contractor. This order is aimed at supporting an Air-to-Air Missile program, with potential future orders worth millions anticipated over the next year. The deployment will deliver KULR's advanced thermal management technologies for use in spacecraft components and instruments aligned with national defense and commercial space applications. KULR emphasizes its commitment to the aerospace and defense sectors as critical growth areas.
KULR Technology Group, a leader in lithium-ion battery safety and thermal management, announces its participation in several upcoming conferences in October 2022. Key events include the UBS Future of Electric Mobility Virtual Conference and the Ebike Future Conference & Expo, where KULR representatives will discuss their advanced battery technologies. The company aims to showcase its SafeCase product and its innovative solutions tailored for mass-market applications. This exposure may enhance investor relations and bolster market presence.
KULR Technology Group has received an order from a Fortune 500 aviation company for its battery safety products and services, integral to the development of eVTOL aircraft. This order marks a critical engagement as KULR's offerings are expected to streamline the testing and certification process in the expanding e-mobility sector. The global eVTOL market is projected to grow significantly, estimated to reach USD 30,519 Million by 2030. KULR’s product suite includes innovative solutions like Passive Propagation Resistant (PPR) designs and AI-powered battery management systems.
KULR Technology Group will present at the FAA's Tenth Triennial International Fire and Cabin Safety Research Conference on October 19, 2022. Dr. William Walker, KULR’s Director of Engineering, will discuss the importance of a holistic battery safety strategy for electrical aviation. The conference, themed 'Going Green - The Effect on Aircraft Cabin and Fire Safety', aims to address safety challenges related to lithium-ion batteries in aviation. KULR's innovations, including their SafeCase solution, are crucial for enhancing battery transportation safety in electric aviation.
KULR Technology Group has joined NAATBatt International as a platinum member, enhancing its position in battery technology. This partnership allows KULR to engage with policy makers, develop innovative solutions, and optimize logistics in North America. CEO Michael Mo emphasized the company's commitment to advancing thermal safety solutions and localizing production. This membership follows KULR's procurement of 75MWh of lithium-ion battery capacity from Molicel, positioning itself as a key player in North America's battery supply chain.
KULR Technology Group received approval from the Department of Transportation to increase energy levels in its SafeCase product from 2.1 kWh to 2.5 kWh. This upgrade allows KULR to support a project with a major landscaping company for the safe shipment and storage of lithium-ion batteries used in electric vehicles. The approval signifies the safety and quality of KULR's offerings and is expected to expand usage cases for SafeCase with current and new clients. The landscaping equipment sector is projected to grow significantly, reaching USD 43.24 billion by 2029.
KULR Technology Group will present at The Battery Show on September 13, 2022, in Novi, Michigan. Sean Plasse, the Regional Vertical Market Manager, will discuss battery safety and sustainability in his presentation titled The Role of Safety in Building a Sustainable Circular Battery Economy.
The event, from September 13-15, 2022, is North America’s largest advanced battery and electric vehicle technologies trade show, showcasing innovative products and solutions. KULR develops cutting-edge thermal management technologies for batteries, enhancing safety and performance.
KULR Technology Group (NYSE American: KULR) has secured two significant orders from a Fortune 20 e-commerce and cloud computing company for its advanced Li-ion battery technology, aimed at enhancing commercial drone delivery services. The first order involves a proof of concept, while the second focuses on prototype testing and certification trials. Production is slated for 2023, with full-scale operations expected in late 2024. This initiative underscores KULR's commitment to improving safety and efficiency in drone operations, tapping into a rapidly growing market where drone deliveries are projected to surge significantly.
KULR Technology Group (NYSE American: KULR) reported its Q2 2022 results, revealing a slight revenue dip to $588,000 from $628,000 year-over-year, attributed mainly to lower contract services. Despite this, the company secured UPS shipping certification for its Safe Case products and established critical partnerships, including a follow-on order from Lockheed Martin. Operating loss increased to $5.2 million, highlighting rising expenses in R&D and SG&A, with a net loss of $5.3 million or $0.05 per share.