KULR Technology Group, Inc 8-K, filed Jul 16, 2020
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on July 16, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 16, 2020
KULR TECHNOLOGY GROUP, INC.
(Exact name of the registrant as specified in its charter)
| Delaware | 000-55564 | 81-1004273 | ||
| (State or other jurisdiction of | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification No.) |
1999 S. Bascom Ave. Suite 700. Campbell, CA 95008
(Address of principle executive offices) (Zip code)
Registrant’s telephone number, including area code: (408) 663-5247
(Former name or address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14D-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: | ||
| None |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 7.01 | Regulation FD Disclosure |
On July 16, 2020, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that it has reached an agreement to provide its passive propagation resistant (PPR) technology to Volta Energy Products, Inc. (“Volta”), a Buffalo, New York-based company, wholly owned subsidiary of Viridi Parente, Inc., and a manufacturer and designer of storage systems engineered for safety and power for residential, institutional, commercial, and industrial applications.
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 releass 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 July 16, 2020 |
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: July 16, 2020 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Commercializes Battery Safety Technology for Volta Energy Products
Deploying Space-Proven Solution in the $59B Global Market in 2019 Forecasted to Grow to $546B by 2035 According to Lux Research
CAMPBELL, CA, July 16, 2020 – KULR Technology Group, Inc. (OTCQB: KULR) (“KULR”), a leading developer of thermal management technologies for batteries and electronics announced today that they have reached an agreement with Volta Energy Products, Inc. (“Volta”), a Buffalo, New York-based company and wholly owned subsidiary of Viridi Parente, Inc. that manufactures and designs cutting edge Whispertech™ storage systems engineered for safety and power for residential, institutional, commercial, and industrial applications, to provide its passive propagation resistant (PPR) technology. KULR’s technology will be implemented into stationary energy storage modules from the grid intended for both immediate backup in case of power outages and supplemental energy during peak demand.
KULR has developed its PPR design solution in partnership with NASA to prevent cell to cell thermal runaway propagation and to inhibit the fire and ejecta of a single cell from exiting the battery enclosure. KULR is deploying this technology for the global energy storage market forecasted to be $546B by 2035, according to Lux Research. KULR currently works with NASA’s Marshall Space Center and NASA’s Ames Research Center on satellite battery designs to meet the NASA JSC 20793 Revision D safety standard for crewed space missions. KULR continues to expand its space-proven technology to mass markets such as energy storage and electric transportation.
“Volta is a leader in providing high-energy capacity energy storage solutions to industrial and mobility markets. KULR is excited to work with Volta to provide the safest regulatory-compliant battery solution in the market. Technologies that promote battery safety are of great importance for utility and industrial energy storage industries and is a primary focus for KULR. We provide the safest, most cost-effective energy storage technologies capable of preventing battery fires and the release of explosive, toxic gases that arise from such incidents,” said Michael Mo, CEO of KULR.
“In order to truly impact climate change through renewable energy solutions, energy storage will continue to grow as a means to enhance demand profiles at the point of use; enhancing performance and safety is paramount to ensuring that storage gains its rightful place in maintaining an efficient electric system. The coordination between KULR and Volta is a substantial step toward achieving these goals,” said Dennis Elsenbeck, President of Viridi Parente.
Public safety concerns have grown against the backdrop of large-scale energy storage deployments and recent incidents regarding those deployments. However, not all large-scale energy storage deployments are made the same, and KULR is working with companies like Volta to revolutionize this industry and safely power our communities.
About KULR Technology Group, Inc.
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 space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
About Volta Energy Products, Inc.
Headquartered in Buffalo, New York, Volta Energy Products, Inc. is a wholly-owned subsidiary of Viridi Parente Inc. Through Volta and its other entity, Green Machine Equipment, Inc., Viridi Parente builds clean, renewable power systems that employ proprietary Lithium-ion cells, modules, and drives for industrial applications, microgrid storage, and renewable replacements for a myriad of fossil fuel-based engine systems including construction equipment. Viridi Parente intends to disrupt and revolutionize the energy industry. For more information, please visit www.viridiparente.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 on May 14, 2020. 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: | Media Contact: |
| Keith Pinder | Derek Newton |
| Landon Capital | Head, Media Relations |
| Main: (404) 995-6671 | Main: (786) 499-8998 |
| kpinder@landoncapital.net | derek.newton@kulrtechnology.com |