KULR Technology Group, Inc 8-K, filed Apr 28, 2023
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on April 28, 2023.
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
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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| Item 7.01 | Regulation FD Disclosure |
On April 28, 2023, KULR Technology Group, Inc. (the “Company”) issued a press release announcing its conference schedule for the month of May 2023.
A copy of the above-mentioned press release is attached herewith as Exhibit 99.1.
In addition, the Company made available, on its website, the presentation furnished as Exhibit 99.2 hereto.
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 April 28, 2023 | |
| 99.2 | KULR Technology Group, Inc. Investor Presentation dated April 2023 | |
| 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: April 28, 2023 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR SETS MAY 2023 CONFERENCE SCHEDULE
SAN DIEGO / GLOBENEWSWIRE / April 28, 2023 / KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leading energy management platform company accelerating the global transition to a sustainable electrification economy, is scheduled to participate at the following conferences in the month of May 2023:
19th Annual Taglich Brothers Investment Conference
Date: Monday, May 1st, 2023
Location: The Union League Club, 38 East 37th Street, New York, NY 10016
Event Detail: The Taglich Brothers 19th Annual Investment Conference will feature presentations from the management teams of both public and private companies covering technology, media, software, hardware, and consumer staple companies. KULR’s CFO Shawn Canter will present on Monday, May 1st, from 3:45 PM – 4:15 PM (ET).
Space Tech Expo 2023
Date: Tuesday, May 2nd through Thursday, May 4th, 2023
Location: Long Beach Convention Centre, Long Beach, CA - Booth Number 2021
Event Detail: Space Tech Expo USA is America's premier space technology trade show, aimed at the entire satellite and spacecraft industry.
Electric Aircraft 2023 Exhibition & Conference
Date: Wednesday, May 10th through Thursday, May 11th, 2023
Location: Marriott Redondo Beach, 3635 Fashion Way, Torrance CA – Booth 1
Event Detail: KULR is a Gold Sponsor of the Electric Aircraft 2023 Exhibition and Conference, where top-level aviation industry leaders meet with experts in electric and hybrid-electric aviation, as well as advanced air mobility, to explore the latest in aircraft electrification technologies and the challenges and breakthroughs shaping the aviation industry's future.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company 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 www.kulrtechnology.com.
Safe Harbor Statement
This press 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, 2023. 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:
Mark Komonoski
Partner
Integrous Communications
Phone: 1-877-255-8483
Email: kulr@integcom.us
Media Relations:
Further PR
Email: press@furtherpr.com
Exhibit 99.2
| KULR Technology Group, Inc. Investor Presentation Michael Mo DATE: April-2023 |
| AGENDA 1. Corporate Overview 2. Market Opportunities 3. Technology Solutions 4. Financial Updates 5. Summary |
| CORPORATE OVERVIEW: Forward Looking Statements 3 Safe Harbor This presentation and other written or oral statements made from time to time by representatives of KULR Technology Group, Inc. and/or its wholly owned subsidiary KULR Technology Corporation contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect the current view about future events. Statements that are not historical in nature, such as our revenue forecast, and which may be identified by the use of words like “expects,” “assumes,” “projects,” “anticipates,” “estimates,” “we believe,” “could be,” "future" or the negative of these terms and other words of similar meaning, are forward-looking statements. Such statements include, but are not limited to, statements contained in this presentation relating to our expected sales, cash flows and financial performance, business, business strategy, expansion, growth, products and services we may offer in the future and the timing of their development, sales and marketing strategy and capital outlook. Forward-looking statements are based on management’s current expectations and assumptions regarding our business, the economy and other future conditions and are subject to inherent risks, uncertainties and changes of circumstances that are difficult to predict and may cause actual results to differ materially from those contemplated or expressed. We caution you therefore against relying on any of these forward-looking statements. These risks and uncertainties include those risk factors discussed in Part I, “Item 1A. Risk Factors” of our Annual Report on Form 10-K or other filings we filed with the U.S. Securities Exchange Commission (the “Public Reports”). Any forward-looking statements are qualified in their entirety by reference to the factors discussed in the Public Reports. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Important factors that could cause actual results to differ materially from those in the forward looking statements include: a decline in general economic conditions nationally and internationally; decreased demand for our products and services; market acceptance of our products; the ability to protect our intellectual property rights; impact of any litigation or infringement actions brought against us; competition from other providers ability and products; risks in product development; inability to raise capital to fund continuing operations; changes in government regulation, the to complete customer transactions and capital raising transactions. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. Forecasts All forecasts are provided by management in this presentation and are based on information available to us 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. Reference Material This overview is delivered solely as reference material with respect to our company. This document shall not constitute an offer to sell or the solicitation of an offer to buy securities in our company in any jurisdiction. The information herein is based on data obtained from sources believed to be reliable. Although we believe that the sources are reliable, we have not independently verified such data. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. This presentation contains multiple third-party market growth forecasts that may not take into account negative impacts due to circumstances related to the COVID-19 pandemic. |
| Developing an Energy Management Platform to Accelerate the Global Transition to Sustainable Electrification Economy 4 |
| Michael Mo Founder & CEO Keith Cochran President & COO William Walker CTO Ted Krupp VP of Sales & Marketing Tony Martinez VP of Operations Shawn Canter CFO 5 CORPORATE OVERVIEW: KULR Leadership Team |
| 6 ▪ 7 astronauts live aboard ISS ▪ Cost of space station $150 billion ▪ $3.1 billion NASA spends/year on-going ▪ 254 miles away from Earth ▪ 10 years to build ▪ 30 missions to assemble ▪ Collaboration of 5 space agencies and 15 countries ▪ We offer our commercial customers the same technology that we provide to NASA protecting the ISS and its astronauts CORPORATE OVERVIEW: NASA Trusts KULR with Mission Critical Applications |
| 7 $400B global value chain KULR operates in $200+B portion of market (cell/pack/reuse and recycle) Implications for: ▪ Human health/safety ▪ Economic growth ▪ National Security ▪ Geo-politics ▪ Environmental sustainability Market Opportunities: Lithium-Ion Battery Value Chain to Reach $400B by 2030 (McKinsey) |
| 8 Market Opportunities: Lithium-Ion Battery Thermal Runaway Propagation is a Fundamental Safety Threat to the Whole Industry NASA JPL Battery Accident Video CNBC F-150 Lightening Video |
| 9 Lithium battery fire incidents involving e-bikes, e-scooters, hoverboards, smartphones, and electric vehicles are a serious public safety concern creating a surge in demand for improved battery safety technologies and thermal management solutions. Since 2017, lithium battery incidents involving smoke, fire, extreme heat, or explosion occur once every eight days on planes or in airports. (Source: FAA.gov) UPS cargo flight lithium battery Tesla after battery fire fire E-scooter lithium battery fire Market Opportunities: Risks Grow as Use of Lithium-Ion Batteries Increases |
| KULR Solutions Platform Overview Internal Short Circuit (ISC) Thermal Runaway Shield (TRS) SafeX Fiber Thermal Interface (FTI) Thermal Capacitor Screened Cells KULR VIBE ▪ Trigger Cells ▪ Consistent & Reliable ▪ Thermal Runaway prevention ▪ Safe & reliable Li-ion storage & transportation ▪ High thermal conductivity no residue & reworkable ▪ Cyclically absorbs and provides heat ▪ High-quality and reliability ▪ N. America sourced supply ▪ Vibration and balance management Cell Level Testing Multiphysics Modeling Battery Design Services Pack Level Testing Systems Level Testing Transport & Recycling ▪ Cell Screening ▪ Thermal runaway characterization ▪ Analysis of cells, packs and systems ▪ Safe & reliable battery designs ▪ Verification of pack safety & reliability ▪ Advanced, tailored test plans ▪ End of life logistics Products Services ▪ CellCheck ▪ Data intensive battery monitoring KULR ONE Design Services Real Time Monitoring Other Services 10 Market Opportunities: Space Proven Lithium-Ion Battery Design and Testing Methodology |
| 11 Aerospace & Defense E-Mobility Industrial & Consumer Recycling Thermal Management Systems Market Thermal management systems market alone estimated at $24 billion in 2025 (Converged Markets) Vibrations Market Global vibration motor market ~$7 billion in 2022 going to $24 billion in 2032 – 14% CAGR EV Passenger Car Market ~60 million passenger EV sales (2040) Potentially 525+ million passenger EVs alone on the road in 2040 (assume 15-yr. useful life) Lithium Battery Market $150+ billion (2030) Manufacturing capacity CAGR 27% over next five years Market Opportunities: KULR Addressable Markets Global lithium-ion Battery Recycling Industry Reached $ 4.6 billion in 2021 and projected to grow to $ 22.8 billion by 2030 |
| 12 Energy Storage Systems ▪ 2022 - ~$230 billion ▪ 2030 - ~$435 billion ▪ 8% CAGR Market Opportunities: Energy Storage Market is Large and Growing Fast |
| KULR ONE Platform 1. Safety 2. Reliability 3. Performance 4. Intelligence 5. Modularity 6. Customization Developing safe and reliable lithium-ion energy storage for our customers 13 Technology & Solutions: Space Proven Lithium-Ion Battery Design and Testing Methodology |
| KULR ONE Design Solutions Cell Supply Cell Level Testing Multiphysics Modeling Battery Design Pack Level Testing System Level Testing Real Time Monitoring Transport & Recycling Holistic Approach to Battery Design & Safety 14 1. Credible 2. Agile 3. Prepared 4. Responsive Technology & Solutions: Space Proven Lithium-Ion Battery Design and Testing Methodology |
| SafeX Battery Storage Solution Product Description ▪ Patented DOT permitted Passive Propagation Resistant (PPR) storage & transportation system for lithium-ion batteries. ▪ Used by NASA in crewed space vehicles since 2019 Value Proposition ▪ Mitigates thermal runaway with KULR’s patented Thermal Runaway Shield (TRS) technology ▪ DOT permitted for up to 2.5kWh per case ▪ No particulates generated during handling ▪ Light weight, reusable, sustainable and cost effective 15 Technology & Solutions: SafeCase Technology Developed for ISS and Deployed for Battery Recycling |
| 16 Technology Solutions: SafeCase Demo SafeCASE 2.5 kWh Li-ion Battery Contents, 100% SOC |
| 17 Technology Solutions: SafeSLEEVE Demo Initial TR Onset of Cell-to-Cell Propagation Battery Cells SafeSLEEVE 300 Wh Li-ion Battery Contents, 100% SOC |
| Sales and Marketing : KULR’s Competitive Advantages 18 Expertise & Technical Credibility • World class Battery Design & Test Experts • Patents, IP and Trade Secrets • Strong Network of Collaborators Regulatory • DoT Special Permits • FAA, UN, UL, CSA Engagements • Industry Trade Groups and Associations Operational • Global sourcing and supply chain • Testing Facilities/Capabilities • QMS KULR Differentiators Support • Dedicated Customer Service & Technical Support CREDIBLE, AGILE, PREPARED, RESPONSIVE Driving the electrification revolution |
| Sales and Marketing : KULR’s Customers and Strategic Partners 19 Aerospace & Government Industrial & Consumer Strategic Partners A multi-pronged revenue model approach to best suit our customers' needs Products & Services Design Services Product Sales Subscription Services IP Licensing KULR ONE ✓ ✓ SafeX Products ✓ ✓ ✓ ✓ KULR ONE Design Services ✓ ✓ ✓ ✓ KULR VIBE ✓ ✓ ✓ Thermal Management Products ✓ ✓ ✓ |
| Analysis & Design Services Prototyping & Testing Services Certifications Customer Deployment = Product Sales Sales and Marketing : Business Model from Design to Production Cycle 20 |
| Financial Updates: 2022 Investments in R&D and Infrastructure Builds Foundation for Growth Acceleration in 2023 21 ▪ Revenue: $1.8M. 137% YoY Growth ▪ Gross Margin: 92% vs. 70% (Q4’21) ▪ Cash Balance: $10.4M ▪ R&D Expenses: $1.2M vs. $704K (Q4’21) ▪ Equipment & Deposit: $6.7M vs. $2.5M (Q4’21) ▪ Inventory Deposit: $1.9M vs. $191K (Q4’21) 2022 Revenue $0 $500,000 $1,000,000 $1,500,000 $2,000,000 1Q22 2Q22 3Q22 4Q22 KULR TTM Revenue $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 2021 2022 Q4’22 Financial Highlights 2021 2022 Y/Y Growth Product Sales $1.49M $2.64M 77% Contract Services $0.92M $1.35M 47% Total Revenue $2.41M $3.99M 66% # of Customers 20 36 80% |
| Financial Updates: KULR Corporate Overview 22 Institutional Shareholders Public Listing Market NYSE American Exchange Symbol KULR Market Capitalization $81M Stock Price (as of 4/24/23) $0.70 Total Shares (as of 4/24/23) 116.75 M Insider Holdings 34.3% Total Floating Shares 72.4 M Index Inclusion |
| Summary: KULR Investment Highlights 23 ▪ Industry leading provider of total solution to battery safety and thermal management ▪ Active ESG initiative propelled by industry and regulatory tailwinds of growing demand for recycling and clean energy, resulting in an expanding total addressable market ▪ Attractive and scalable business model with high gross margins ▪ Tier-one customer base with government, defense, and commercial enterprise clients ▪ Fortified portfolio of solutions with 12 patents ▪ Strong Growth Momentum in 2022 and into 2023 |
| www.kulrtechnology.com 24 |
