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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 (NYSE American: KULR) has received a three-year, multi-million dollar deployment order for its Passive Propagation Resistant (PPR) solution from Volta Energy Products, a subsidiary of Viridi Parente. The initial order, worth approximately $1.6 million, focuses on stationary and mobile lithium-ion battery power systems. This marks KULR’s first commercial deployment of the PPR technology, which includes the patented thermal runaway shield product. The partnership aims to enhance the safety and efficiency of energy storage solutions.
KULR Technology Group, a leader in lithium-ion battery safety technologies, will host the SAE G-27 committee on lithium battery packaging in San Diego in late 2022. This event aims to enhance safety standards for transporting lithium batteries on aircraft, crucial for promoting sustainable energy use. CEO Michael Mo emphasized collaboration with regulators to improve battery safety technologies. The SAE G-27 committee develops standards for safe lithium battery shipment, working with various international organizations to mitigate fire risks during air transport.
KULR Technology Group, a leader in lithium-ion battery safety and thermal management, has acquired patented IP rights from Centropy AB. This acquisition enhances KULR's offerings in advanced carbon fiber heatsink technology for high power computing applications, specifically targeting areas like cloud computing and crypto mining. The integration of Centropy's cooling solutions aims to improve operational efficiency for crypto miners, addressing significant cost components. The CEOs of both companies express optimism about the collaboration, emphasizing the potential for synergy and commercialization of advanced thermal management technologies.
KULR Technology Group, Inc. (NYSE American: KULR) has secured an initial order worth approximately $500,000 for its passive propagation resistant (PPR) battery systems from Lockheed Martin Corporation (NYSE: LMT). This order marks the beginning of collaboration as Lockheed Martin integrates KULR's advanced battery technologies into its Advanced Energy Systems. KULR's PPR products include the Thermal Runaway Shield and Internal Short Circuit systems, aimed at enhancing battery safety for aerospace and Defense Department applications.
KULR Technology Group, a leader in lithium-ion battery safety and thermal management, will present at the Sequire Clean Tech & EV Conference on December 6, 2021, at 8:00 AM ET. CEO Michael Mo will host a live webcast and hold one-on-one meetings throughout the event. The company is known for its innovative carbon fiber thermal management technologies, benefiting industries such as aerospace and electric vehicles. Interested parties can find more information and replay the presentation on the company's website.
KULR Technology Group reported a significant increase in Q3 revenue, with a year-over-year growth of over 300%, amounting to $600,921.
Key partnerships and investments are enhancing KULR's product commercialization capabilities, as they focus on innovative battery technologies. The company is strategically positioned with $11 million in cash and has secured permits from the U.S. Department of Transportation for safe lithium-ion battery transportation. However, KULR also noted a substantial rise in operational losses, now at $3.1 million, alongside increased SG&A and R&D expenses, which may raise investor concerns.
KULR Technology Group (NYSE American: KULR) will showcase its innovative CellCheck Battery Management System at the Advanced Automotive Battery Conference in San Diego from December 7-9, 2021. This modular battery management system enhances battery safety and performance by providing real-time data on adverse events. KULR plans to commercially launch CellCheck in the first half of 2022. The conference will also feature prominent names in the automotive battery sector, highlighting KULR's engagement with leading manufacturers.
KULR Technology Group, Inc. (NYSE American: KULR) announced a conference call scheduled for November 18, 2021, at 4:30 p.m. ET to discuss its financial results for Q3 2021, ending September 30. Prior to the call, the company will release its financial data. During the conference, management will present insights followed by a Q&A session. Interested parties can submit questions until November 15, 2021. The call will be broadcast live and available for replay on the KULR website.
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.