OUR NEW PROFILE IS: (NYSE: KULR)
“TO DATE WE HAVE NOT FOUND A DESIGN SOLUTION WITH AS MUCH PROMISE” – NASA
“RIGHT NOW KULR IS A STAR” – WALL STREET JOURNAL
KULR’s Q1 revenue increased by 439% year-over-year
KULR Technology Group Announces Uplist to NYSE American Exchange
Q2 Year-over-Year Revenue Increased Over 200% and First Half 2021 Year-over-Year Revenue Increased Over 250% as Company Expects Growth Momentum to Continue in 2021
KULR CEO Interviewed by Stuart Varney
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*****KULR INVESTOR PRESENTATION*****
Hello Everyone,
We have a past winner back in our crosshairs for tomorrow’s session.
This is a company that we profiled back in January when it was sitting at $1.59.
Turn your attention to KULR.
KULR has closed green 4 out of the last 5 sessions and was up a bullish 10% today when the bell rang.
Speaking of bell ringing, just the other day this company rang the closing bell at the NYSE.
KULR Technology Group, Inc. (OTCQB: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA deep space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer.
KULR operates in the thermal management market targeting and providing thermal solutions for electric vehicles, cloud computing, 5G communication technologies, and energy storage for commercial and aerospace and defense markets.
We feel that the company is well positioned for strong growth as the shift to electric vehicles and 5G technology should be significant growth drivers fueling demand for the company’s products in the coming years. According to MarketsandMarkets, the electric vehicles market is projected to reach approximately 27 million units by 2030 from an estimated 3.3 million units in 2019 for annualized growth of 21.1%. Grandview Research projects the global 5G services market size is estimated to reach $41.5 billion by 2020 and expand at annualized growth of 43.9% from 2021 to 2027.
KULR Technology Group Announces Uplist to NYSE American Exchange
SAN DIEGO, June 02, 2021 (GLOBE NEWSWIRE) — KULR Technology Group Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced that, subject to meeting all requirements (including the price requirement) at the time of listing, the Company has been approved to uplist to the NYSE American Exchange. The ticker will remain unchanged, as “KULR,” and the stock is expected to commence trading at the opening of trading on June 7, 2021.
“I am very pleased to announce that KULR has been approved to begin trading on the NYSE American Exchange,” said Michael Mo, Co-Founder and CEO of KULR Technology Group. “This uplist to a senior U.S. exchange represents another important milestone in our Company’s history. I want to thank our employees for their hard work and perseverance in support of this great accomplishment, and concurrently, our shareholders for their patience and continued support of KULR. Trading on the NYSE will provide the Company more visibility to a much broader pool of investors and, in turn, increase liquidity. As a result, we are even more confident of KULR’s growth potential going forward.”
KULR Technology Group Reports Preliminary Second Quarter 2021 Financial Results & Reminder of its Battery Solutions Day Event
Q2 Year-over-Year Revenue Increased Over 200% and First Half 2021 Year-over-Year Revenue Increased Over 250% as Company Expects Growth Momentum to Continue in 2021
SAN DIEGO, Aug. 03, 2021 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced its unaudited preliminary financial results for the second quarter of 2021 ending June 30th, 2021.
The Company is also providing a reminder that KULR will host its first Battery Solutions Day on Tuesday September 21, 2021. Those interested in attending KULR’s Battery Solutions Day live, as well as receiving event updates, may subscribe for email notifications at BSD@kulrtechnology.com.
Q2’21 Financial Highlights:
- Revenue for the three months ended June 30, 2021 is estimated at $620,000, compared with $201,128 for the three months ended June 30, 2020
- Gross profit for the three months ended June 30, 2021 is estimated at $180,000, compared with $156,394 for the three months ended June 30, 2020
H1’21 Financial Highlights:
- Revenue for the six months ended June 30, 2021 is estimated at $1,030,000, compared with $278,628 for the six months ended June 30, 2020
- Gross profit for the six months ended June 30, 2021 is estimated at $320,000, compared with $203,851 for the three months ended June 30, 2020
Cash Position and Proceeds:
Cash position increased to over $12,150,000 as of June 30, 2021, compared with $767,906 on June 30, 2020. This increase is mainly attributable to:
- Gross proceeds of approximately $6.5M received from the registered direct offering completed on May 20, 2021; and
- Gross proceeds of approximately $3.7M received in Q2’21 from the exercise of warrants to purchase an aggregate of 3,000,000 shares of common stock.
CEO Commentary:
“We expect strong year-over-year revenue growth for the rest of 2021, as we continue to build out our management team for mass market applications and scaled-up manufacturing,” said KULR CEO Michael Mo. “Our attention to targeting adjacent markets complementary to our established battery safety and thermal management products, such as recycling and end of battery life shipment logistics, is starting to show traction. Since we received the two Department of Transportation special permits towards the end of Q2, we received increasing customer interest in our safe shipping solutions and expect to see increased market penetration in subsequent quarters as a result of obtaining those much-coveted DoT permits. Our cash position is the strongest in the Company’s history with virtually no debt, while the entire KULR team is laser focused on the execution and delivery of the Company’s strategic growth initiatives with the goal of significantly increasing shareholder value in the quarters and years to come.”
KULR Technology Group Inc. Reports First Quarter Results and Announces Shareholder Update CallPress Release
SAN DIEGO, CA / ACCESSWIRE / May 21, 2021 / KULR Technology Group, Inc. (OTCQB:KULR) (the “Company” or “KULR”), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced its financial results for the first quarter ended March 31, 2021.
KULR’s Q1 revenue increased by 439% year-over-year as we continue to make significant investments in all areas of our business to sustain and expand in 2021 and beyond. We are pleased to announce the Company recently raised $6.5 million in capital on May 20, 2021. Our belief is that this investment validates the value our new investors see in KULR’s ability to commercialize within additional e-mobility markets. This funding is expected to significantly strengthen the Company’s balance sheet and further advance KULR’s up listing process to a senior U.S. exchange.
KULR’s business model continues to evolve as the Company focuses on near-term commercialization opportunities for its technology in the energy storage, electrical transportation, and battery transportation markets. We recently announced our first new smart battery product for the commercial drone market. This is the opening step of KULR’s overall strategy to target adjacent markets complimentary to our established battery safety and thermal management products to expand into additional e-mobility markets in 2021. Additionally, we have targeted using our carbon fiber technology inside battery cells to make lighter and safer batteries with fast charge capability.
First Quarter 2021 and Recent Operational Highlights
- In April 2021, KULR announced the June 2021 launch of a new product line of high-capacity lithium battery packs targeting the $127 billion commercial drone market, according to PricewaterhouseCoopers. The Company recently secured a global commercial drone manufacturer as a customer and expects to secure additional customers in the second half of 2021.
- In March 2021, Keith Cochran joined KULR as President and COO. Mr. Cochran was previously SVP of Global Business Unit at Jabil where he was responsible for the $3.7B smartphone business and managing over 65,000 employees in US and Asia. Keith brings over 25 years of experience in business operations, supply chain management and large-scale manufacturing automations.
- KULR became the official thermal management and battery safety technical partner for Andretti Technologies, the advanced technology arm of Andretti Autosport, founded by Michael Andretti. As part of the alliance, KULR will establish a thermal management testing and design platform for high performance battery solutions with the highest safety ratings specially adapted to the rigorous technical requirements of Andretti’s global racing enterprise. Both partners will also focus on co-developing and co-marketing motorsports’ battery and safety technologies to automotive partners for mass market EV applications.
- KULR strengthened its Board by the appointments of Joanna D. Massey and Morio Kurosaki as directors, contingent upon the Company’s common stock being approved for up listing to a senior national exchange and expect their involvement to strengthen our corporate governance and strategic direction.
- In April 2021, KULR announced former Jabil Operations Manager, Antonio Martinez, as new Vice President of Operations. Mr. Martinez will be responsible for managing day-to-day operations of the Company’s manufacturing department as well as supporting strategic growth goals. Mr. Martinez joins KULR with over 37 years of leadership and worldwide manufacturing experience in Electronics Manufacturing and Operations.
- KULR announced it was expanding its manufacturing presence to a new, larger facility in San Diego, CA to accommodate continued business growth.
Financial Results: First Quarter 2021 vs. First Quarter 2020
Revenues: KULR generated revenues of $417,905 in the first quarter ended March 31, 2021, an increase of 439% compared with revenues of $77,500 reported in the same period of 2020. The increase in revenue was mainly due to new orders received for products and engineering services for military and aerospace customers. The Company continues to build its relationships with a wide range of energy, transport and aerospace partners and actively served 13 customers in the quarter ending March 31, 2021.
These results reflect management’s commitment to build new customer relationships through a growing pool of referrals and business development leads.
Selling, General and Administrative (SG&A) Expenses: Our SG&A expenses increased to $1,492,811 in the first quarter of 2021 from $465,410 in the corresponding period last year. The 220% increase in SG&A expenses was due to additional marketing and advertising expenses, consulting fees and non-cash stock-based compensation paid to employees and consultants.
R&D expenses: We increased our R&D expenses in the first quarter of 2021 by 10% to $122,983 from $111,713 in the same period last year, reflecting a combination of headcount and process improvements implemented in the first quarter of 2021.
Operating Loss: Our loss from operations was $1,473,157 for the first quarter of 2021, compared to $529,666 for the comparable quarter of 2020. Higher selling, general and administrative costs offset higher sales.
Net Loss: Net loss for the first quarter of 2021 increased to $1,714,723 or a loss of $0.02 per share, compared with a net loss of $550,253, or a loss of $0.01 per share for the comparable period in 2020.
Cash Position: On March 31, 2021, we reported cash balances of $6,166,755 on March 31, 2021, compared with $8,880,140 on December 31, 2020. Subsequently, on May 20, 2021 we raised an additional $6.5 million in a preferred convertible financing agreement. This funding leaves us well positioned to expand operations, support new business, and fund ongoing product development despite the difficult Covid inspired trading conditions experienced through the latest quarter.
EVOLUTION OF KULR
KULR Introduces High Capacity Lithium Battery Packs for Commercial Drone Market
Company’s Customized Battery Pack Platform Targets the Global $127B Commercial Drone Market
SAN DIEGO, April 21, 2021 (GLOBE NEWSWIRE) — KULR Technology Group Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of next-generation thermal management technologies, today announced the June 2021 launch of a new product line of high capacity lithium battery packs targeting the $127B commercial drone market, according to PricewaterhouseCoopers. The Company recently secured a global commercial drone manufacturer as a customer and expects to secure additional customers in the second half of 2021. The announcement is a first step in KULR’s overall strategy of targeting adjacent markets complimentary to the Company’s established battery safety and thermal management products. KULR intends to expand into additional e-mobility markets in the coming year.
KULR President and COO, Keith Cochran, commented, “As I previously shared when I joined, KULR would be building the organization to prepare for entry into mass production markets. As such, we hired a very experienced VP of Operations and announced our move into a facility with four times the manufacturing floor space. These steps were taken in support of delivering the first of KULR’s EV Battery Pack platform. We targeted markets that are adjacent and complimentary to KULR’s established battery safety and thermal management products. The first market in our scope is commercial drones. However, we intend to expand rapidly into other markets. We are very excited to finally be able to share this news with our investors.”
Despite the tremendous potential that drones hold, their adoption rate is strongly affected by battery related safety risks as well as technology issues such as energy densities of batteries and most of all — weight. KULR’s energy efficient battery pack platform incorporates an inherently safe and lighter battery with advanced chemistry and thermal management technology. For drone makers, that means a drone can fly farther and longer on a single charge. KULR’s technology is based on the Company’s 30+ year history specializing in carbon based fiber materials applied to thermal management and battery safety. Additional smart battery features of the KULR drone battery pack include monitoring of battery state at the cell level and pack level, visible warning indicators, battery capacity indicators, balancing of charge control, anti-spark connectors, maintenance of battery condition history which is accessible via CAN/SMBus communication, and most importantly thermal runaway and battery fire mitigation.
The KULR team brings technologies and multi-decades of experience capable of solving today’s problems in thermal management. In October 2020 the Consumer Product Safety Commission reported KULR’s design solutions could stop fires and explosions in lithium-ion battery packs, and provided additional insights on the future of safe battery technology.
KULR’s initial drone battery pack platform will service the high performance market at a retail price between $450 to $550 US Dollars, with drone battery pack platforms servicing the mid to moderate performance markets expected to soon follow.
DISRUPTIVE THERMAL MANAGEMENT SOLUTIONS
KULR’s disruptive thermal management technologies strive to fulfill an addressable $24 Billion thermal management systems market. KULR’s integrated design approach offers comprehensive solutions in thermal interface materials, lightweight heat exchangers, and protection against lithium-ion battery thermal runaway propagation. Our high-performance solutions can be designed to fit almost any power or electronic configuration, including extremely demanding spaces or for applications where size and weight restrictions are a concern.
MAKING THE WORLD OF ELECTRONICS COOLER, LIGHTER, AND SAFER
Since 2016 we have witnessed dramatic changes in the world of electronics with an automotive industry transitioning into the electrification of vehicles and the advent of 5G communications technologies that will accelerate cloud computing growth. Such applications have progressively become more powerful and often require improved forms of thermal management or electronics and battery cooling technologies.
Our plan of execution starts with providing our customers with the best battery testing methodologies as well as cost-effective cooling technologies that outperform traditional solutions, delivering a reliable, safer, and more energy-efficient product to the end-user.
Look at the chart above. As you can see interest just started picking up and KULR is reacting.
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KULR NEWS
KULR MANAGEMENT TEAM:
Michael Mo CEO – is a technology entrepreneur and successful investor with over 20 years of experience in technology management, product development and marketing. In 2013, he co-founded KULR and has been serving as its CEO since then. From 2007 to 2015, Mr. Mo served as Senior Director of Business Development at Amlogic, Inc., a California high-tech company. In 2005, Mr. Mo founded Sympeer Technology and served as its CEO until 2008. In 1998, he founded Wish Solutions, and served as its CEO until 2001. Mr. Mo received his Master of Science in Electrical Engineering from the University of California at Santa Barbara in 1995.
Simon Westbrook, Chief Financial Officer – Mr. Westbrook founded and has since served as an officer of Aargo, Inc., a company specializing in financial consulting services to corporations in various tech-related industries. Prior to Aargo, Inc., Mr. Westbrook was CFO of Amber Networks, Inc., and the Chief Financial Officer of Sage, Inc. (NASDAQ: SAGI), a Silicon Valley company specializing in flat panel displays. Before joining Sage, Mr. Westbrook held a number of senior financial positions at Creative Technology (NASDAQ: CREAF), a leading PC multimedia company, and Atari Corp (AMEX: ATC), the video game and home computer company both in the USA and overseas. At various times, he has held positions as an advisory board member of the Silicon Valley Financial Executives Institute, and various technology start-up companies where he has assisted in strategic planning, fund raising and team development. Simon is a Chartered Accountant and holds a Masters in Economics from Trinity College, Cambridge University.
Michael G. Carpenter VP – serves as KULR’s Vice President of Engineering. Mr. Carpenter has been employed by ESLI since December 1983, serving as Director of the PCM Heatsink Group, Quality Manager, Facility Security Officer (FSO) in the Defense Industrial Security Program from 1988 to 1995. He also has been served as Safety Officer since he joined ESLI in 1983. Mr. Carpenter received his B.S. in Applied Mechanics from the University of California, San Diego in 1983.
Dr. Timothy R. Knowles CFO – has over 30 Years of Thermal Management R&D and product development experience for the most challenging space and industrial applications. He conducted research and built building products for various space and industrial customers such as NASA, Boeing, Raytheon, Jet Propulsion Lab, and others. Since 1983, Dr. Knowles has been working as President at ELSI. In addition, in 2013, Dr. Knowles co-founded KULR and has been serving as it CTO since then. From 1977 to 1983, he was a postdoctoral research physicist at Hamburg University. Mr. Knowles received Ph.D. in Physics from University of California San Diego in 1977 and B.S. in Physics from University of Southern California in 1969.