Kulr Technology Stock Price, News & Analysis

KULR Technology Group (NYSE American: KULR) has partnered with Clarios in a U.S. Department of Energy initiative aimed at advancing lithium-ion battery lifecycle management. This initiative focuses on the safe transport and recycling of lithium-ion batteries, leveraging KULR's technology and a special permit allowing for battery shipments of up to 2.1KWh. The project is currently in Phase three and has received grant funding for testing. Clarios, a major lead-acid battery producer, aims to recover up to 99% of materials from batteries to bolster the lithium recycling economy.

KULR Technology Group (NYSE American: KULR) announced an expansion in safe battery transportation following Heritage Battery Recycling's (HBR) merger with Retriev Technologies. This merger creates the largest lithium-ion battery recycler in North America, enhancing KULR's market reach and logistics services for battery collection and recycling. HBR's access to over 100,000 locations and a fleet of 1,300 vehicles will facilitate efficient operations. The lithium-ion battery market is projected to exceed $116 billion by 2030, spurred by rising electric vehicle adoption and government sustainability initiatives.

KULR Technology Group (NYSE American: KULR) announced an upgrade to its U.S. Department of Transportation (DoT) Special Permit SP21139, allowing for the transportation of reused, refurbished, and retrofitted lithium-ion batteries. This modification streamlines operations for customers, leading to significant cost and time savings. KULR's thermally protective packaging ensures safe shipping of batteries up to 2.1 kWh, exempting certain shipping papers and employee training requirements. This move positions KULR favorably in the growing battery recycling market, projected to reach $21 billion by 2025.

KULR Technology Group, a leader in lithium-ion battery safety technologies, announced CEO Michael Mo's participation in a Fireside Chat with Alliance Global Partners on September 30, 2021, at 12:00 p.m. Eastern time. The event will include a corporate presentation and a Q&A session. This interaction aims to enhance investor engagement and transparency about KULR's innovations in thermal management technologies that benefit various industries, including aerospace and electric vehicles. The event will be available for live streaming and replay.

KULR Technology Group (NYSE American: KULR) has announced a partnership with Heritage Battery Recycling (HBR) to provide its KULR-Tech Safe Case for safe transportation of lithium-ion batteries. The KULR-Tech Safe Case, utilizing patented Thermal Runaway Shield technology, is the only product approved by the US Department of Transportation for managing up to 2.1 kWh of various battery types. This collaboration leverages HBR's extensive logistics network and supports KULR's entry into commercial markets, addressing the growing lithium-ion battery market, which is expected to exceed $116 billion by 2030 with a CAGR of 12.3%.

KULR Technology Group (NYSE American: KULR), a pioneer in lithium-ion battery safety and thermal management technologies, will participate in several virtual financial conferences in September 2021. Key events include the 10th Annual Gateway Conference on September 9, the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, and the Benzinga Electric Vehicles Conference on September 22. CEO Michael Mo will represent the company at these conferences to discuss its advancements and offerings, aimed at improving battery safety and efficiency in various industries.

KULR Technology Group (NYSE: KULR) reported a dramatic revenue increase of over 200% year-over-year for Q2 2021, totaling $0.6 million. The company raised $6.5 million in equity capital and strengthened its balance sheet with over $12 million in cash at quarter's end. Investment in technology developments continues, including a smart battery system and a battery screening automation system for defense clients. However, SG&A expenses surged by 556% to $2.8 million, contributing to an operating loss of $2.9 million, leading to a net loss of $3.0 million, compared to $0.4 million in 2020.

KULR Technology Group (NYSE American: KULR) will present at the Q3 Virtual Investor Summit on August 18, 2021. Michael Mo, the CEO, is scheduled to speak at 1:15 p.m. Eastern time and engage in one-on-one meetings with investors during the event. The presentation will be available for live streaming and later playback on their website. Registration is required for participation in the summit. KULR specializes in lithium-ion battery safety and thermal management technologies, catering to sectors such as aerospace, electronics, and electric vehicles.

KULR Technology Group reported a remarkable Q2 2021 revenue increase of over 200% year-over-year, reaching $620,000, compared to $201,128 in Q2 2020. For the first half of 2021, revenue surged over 250% to $1,030,000. Gross profit for Q2 2021 was estimated at $180,000, slightly up from $156,394 in the same quarter last year. The company's cash position stood strong at over $12.15 million. CEO Michael Mo emphasized expectations for continued growth driven by increased customer interest following recent Department of Transportation permits.