KULR Technology Group, Inc 8-K, filed Sep 30, 2021
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on September 30, 2021.
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 September 30, 2021, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that the U.S. Department of Transportation (DoT) authorized a modification to its existing DoT Special Permit (SP21139) to now include the transportation of reused, refurbished, and retrofitted lithium-ion and metal batteries for recycling. KULR’s upgraded special permit significantly reduces administrative requirements for both existing and potential customers by streamlining real-time operations, which provide substantial cost and time savings to such customers.
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 September 30, 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: September 30, 2021 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Technology Receives Authorization for Expanded Battery Coverage to its Existing Department of Transportation Special Permit
Upgraded DoT Special Permit Authorizes KULR to Include Transportation of Reused, Refurbished, and Retrofitted Batteries
SAN DIEGO / GLOBENEWSWIRE / September 30, 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, announced that the U.S. Department of Transportation (“DoT”) authorized a modification to its existing DoT Special Permit (SP21139) to now include the transportation of reused, refurbished, and retrofitted lithium-ion and metal batteries for recycling. KULR’s upgraded special permit significantly reduces administrative requirements for both existing and potential customers by streamlining real-time operations, which provide substantial cost and time savings.
The authorized modification ensures the Company’s KULR-Tech Safe Case addresses batteries of any condition: new, used, recycled, refurbished, reused, prototyped or DDR (damaged, defective, or recalled). The special permit provides exceptions from shipping papers and employee training when shipping lithium batteries up to 2.1 kilowatt-hours (“kWh”). The permit also authorizes the exceptions based on using KULR’s specially designed thermally protective packaging which incorporates the Company’s patented thermal runaway shield (“TRS”) technology.
"As we've seen with the largest automotive manufacturers making strategic investments in battery recycling as well as the recent spate of battery recycling IPO’s, the market is starting to recognize the importance of this matter in the circular economy, which is expected to grow to $21 billion by 2025,” said KULR COO Keith Cochran. "With KULR's space-proven, patent-pending technologies and DoT special permits in place, we are well positioned to be the leading provider of battery storage and transportation solutions that services the largest OEM’s and service providers in the industry."
The authorized expansion of permit SP21139 was awarded on September 24th, 2021.
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 Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
Derek.Newton@KULRTechnology.com
Investor Relations:
Tom Colton or Matt Glover
Gateway Investor Relations
Main: (949) 574-3860
KULR@gatewayir.com