KULR Technology Group, Inc 8-K, filed Oct 25, 2022
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on October 25, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form
CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure |
On October 25, 2022, KULR Technology Group, Inc. (the “Company”) issued a press release announcing it has commenced Phase 2 development of its passive propagation resistant battery systems for the Lockheed Martin Corporation (NYSE: LMT).
A copy of the above-mentioned press release is attached herewith as Exhibit 99.1.
By filing this Current Report on Form 8-K and furnishing the information contained herein, the Company makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD. The Company uses, and will continue to use, its website, press releases, and various social media channels, including its Twitter account (twitter.com/kulrtech), its LinkedIn account (linkedin.com/company/kulr-technology-corporation), its Facebook account (facebook.com/KULRTechnology), its TikTok account (tiktok.com/Kulr_tech), its Instagram account (instagram.com/Kulr_tech), and its YouTube account (youtube.com/channel/UC3wZBPINQd51N6p35Mo5uQg), as additional means of disclosing public information to investors, the media and others interested in the Company. It is possible that certain information that the Company posts on its website, disseminated in press releases and on social media could be deemed to be material information, and the Company encourages investors, the media and others interested in the Company to review the business and financial information that the Company posts on its website, disseminates in press releases and on the social media channels identified above, as such information could be deemed to be material information.
The information in this Item 7.01 disclosure, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. In addition, the information in this Item 7.01 disclosure, including Exhibits 99.1, shall not be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Exhibits |
| Exhibit No. |
Description | |
| 99.1 | Press Release dated October 25, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.
| KULR TECHNOLOGY GROUP, INC. | ||
| Date: October 25, 2022 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR TECHNOLOGY BEGINS
PHASE 2 BATTERY SAFETY TESTING FOR
LOCKHEED MARTIN
Testing Utilizes KULR’s Leading Bomb Calorimeter Product
SAN DIEGO / GLOBENEWSWIRE / October 25, 2022 / KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leading energy management platform accelerating the electrification of the circular economy, has commenced Phase 2 development of its passive propagation resistant (“PPR”) battery systems for the Lockheed Martin Corporation (NYSE: LMT) (“Lockheed”). Following a successful Phase 1 trial in November 2021, the testing for Phase 2 began in Summer 2022, utilizing KULR’s recently implemented bomb calorimeter and leveraging the Company’s technological advancements in PPR energy products for its Advanced Energy Systems.
A bomb calorimeter measures the total heat generated in a particular reaction. Data gathered with KULR’s bomb calorimeter can be used in combination with additional information collected from running experiments in the Company’s Fractional Thermal Runaway Calorimeter (“FTRC”), licensed from NASA, for similar cell types. The FTRC supports the determination of both the total amount of heat generated and the fraction of heat contained within the ejecta compared to that retained in the cell body. These compiled datapoints are critical for cell selection decisions and for designing battery systems that are safe against the unique cell level thermal runaway response.
In addition to serving NASA and defense contractors, the versatile FTRC also provides significant value to commercial leaning companies that wish to develop better battery pack and battery management system (“BMS”) designs.
“Lockheed Martin is a valued KULR customer, and we are encouraged to be jointly proceeding to Phase 2 in developing our PPR energy products for their Advanced Energy Systems,” said Dr. William Walker, KULR’s Director of Engineering. “We are confident our state-of-the-art technological capabilities will meet their needs and lead to a continued, longstanding partnership with one of the leading aerospace, arms, defense, information security, and technology companies in the world.”
KULR has developed a multitude of products to increase the performance of aerospace and U.S. Department of Defense (“DoD”) technologies and is continuing to research new and innovative thermal management and energy solutions.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information, please visit https://www.kulrtechnology.com/
Safe Harbor Statement
This release
does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking
statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements
in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated
or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors
disclosed in our Form 10-K filed with the Securities and Exchange Commission on March 28, 2022. Forward-looking statements include statements
regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such
as "anticipate," "believe," "could," "estimate," "expect," "intend," "may,"
"should," and "would" or similar words. All forecasts are provided by management in this release are based on information
available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts
are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of
opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the
information included in this press release, whether as a result of new information, future events or otherwise.
Investor Relations:
Tom Colton or Matt Glover
Gateway Group
Main: (949) 574-3860
KULR@gatewayir.com
Public
Relations:
Robert Collins / Zach Kadletz / Anna Rutter
Gateway Group
Main: (949) 574-3860
KULR@gatewayir.com
Brokers and Analysts:
Chesapeake Group
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