KULR Technology Group, Inc 8-K, filed Dec 7, 2021
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on December 7, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- 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 December 7, 2021, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that the Company has acquired from a Swedish company, Centropy AB, certain intellectual property rights, including Swedish patents, that relate to heatsink technology for high power computing 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 8.01 | Other Events |
As disclosed in Item 7.01, the Company has acquired patented intellectual property rights from Centropy AB. The intellectual property rights relate to advanced carbon fiber based heatsink technology for high power computing applications that strengthen the Company’s portfolio of thermal management solutions for cloud computing, artificial intelligence, and cryptocurrency mining applications.
| Item 9.01 | Exhibits |
| Exhibit No. |
Description | |
| 99.1 | Press Release dated December 7, 2021 | |
| 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: December 7, 2021 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Acquires IP Rights from Centropy AB
Acquisition Provides Advanced Carbon Fiber Heatsink Solutions for High Power Computing Applications
SAN DIEGO / GLOBENEWSWIRE / December 07, 2021 / 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 it has acquired the patented intellectual property (“IP”) rights from Centropy AB ("Centropy"). The acquisition brings advanced carbon fiber based heatsink technology for high power computing (“HPC”) applications that strengthen KULR’s portfolio of thermal management solutions for cloud computing, AI, and crypto mining applications.
Centropy's cooling solutions will be integrated into KULR's existing technology portfolio – targeting air and liquid-cooling of HPC applications such as crypto mining, cloud computing, and AR/VR simulations. Combining Centropy's proprietary process of utilizing carbon fibers in cooling technology for electronic components used in aerospace, automotive, data centers, and other high-performance applications with KULR's innovation, productization, and commercialization capabilities, provides a dependable tailwind for the Company’s HPC technology development going forward.
High power computing applications, such as industrial bitcoin mining operations, are comprised of thousands of computers stacked on shelves in warehouses surrounded by large-scale fans where electricity can account for about 80% of a miner’s operating cost. With the joint capabilities of Centropy and KULR’s technology, crypto miners would now be able to conduct operations more efficiently and effectively.
"We appreciate the dedication and innovation Centropy put into this technology," said KULR CEO, Michael Mo. "I believe KULR will be a great home for the technologies that the Centropy team has dedicated their hard work towards because we know firsthand it takes tremendous resources and innovation to invent a solution, productize it, and a tremendous amount of diligence and infrastructure to commercialize it. KULR intends to be a staunch custodian and conduit for Centropy’s cutting-edge technology, advancing a complete suite of solutions as well as other innovative thermal management technologies that will result from IP acquisitions.”
Jesper Eman, CEO of Centropy AB added: "We are very pleased and proud to work with KULR as we look to leverage our IP and take it to commercialization. We also realize it takes a lot of expertise and resources in productization, manufacturing and commercialization to take our technologies to mass markets. The partner to help us get there is KULR, which is the leader in carbon fiber thermal management technologies for the most advanced and demanding applications. Their products are trusted and used by NASA and other well-respected commercial and governmental partners. We look forward to the times ahead, as we strongly believe KULR is the ideal home for our technologies to realize their full potential."
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: 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.
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 19, 2021. 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.
Media Relations:
Annika Harper
The Antenna Group
KULR@antennagroup.com
Investor Relations:
Tom Colton or Matt Glover
Gateway Investor Relations
Main: (949) 574-3860
KULR@gatewayir.com