KULR Technology Group, Inc 8-K, filed Apr 13, 2020
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on April 13, 2020.
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 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): April 13, 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 April 13, 2020, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that it entered into a license and supply agreement with Americase, LLC, granting a license for Americase’s use of the Company’s passive propagation resistant (PPR) technology and agreeing to supply the Company’s PPR materials for Americase’s “Battery Bag” products.
A copy of the above mentioned press release is attached herewith as Exhibit 99.1.
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 |
On April 9, 2020, the Company entered into an operational supply agreement with Americase, LLC (“Americase”) pursuant to which the Company granted a license for Americase’s use of the Company’s passive propagation resistant (PPR) technology, which license, subject to certain minimum supply purchase orders continue to be placed by Americase, grants exclusivity to Americase, and pursuant to which Americase agreed to exclusively source the core PPR materials from the Company. Americase intends to use the PPR technology and materials to produce its patent pending “Battery Bag” that is utilized to prevent lithium-ion battery thermal runaway propagation during storage and transportation.
| Item 9.01 | Exhibits |
| Exhibit No. |
Description | |
| 99.1 | Press Release dated April 13, 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: April 13, 2020 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Technology and Americase Announce Licensing Agreement
Passive propagation resistant technology used on the International Space Station to be commercialized in shipping for some of the world’s largest electronic manufacturers and retailers.
CAMPBELL, CA, April 13, 2020 – KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of battery safety and thermal management technologies, announced today a new licensing agreement with Americase. This partnership will allow Americase to exclusively utilize KULR’s passive propagation resistant (PPR) technology and source the core materials from KULR to produce its patent pending Battery Bag to prevent lithium-ion battery thermal runaway propagation during storage and transportation.
“Together, KULR and Americase are bringing the latest battery safety technology used by NASA on the International Space Station to mass commercial markets,” said Michael Mo, CEO of KULR. “We are very excited to partner with the industry leader, Americase, to achieve another milestone in bringing our space-proven technology to broad commercial battery markets.”
Proprietary Flame Proof Recovery Packaging developed and produced by Americase has been utilized for approximately 70% of DDR (Damaged, Defective, or Recalled) battery shipments in the industry, including the Samsung Galaxy Note 7 recall in 2016, as well as recalls for virtually every manufacturer of consumer electronics. In addition to creating the world’s most widely used return packaging for damaged or defective lithium batteries, Americase is one of the leaders in providing lithium battery transportation and storage solutions for large format batteries to some of the world’s largest automotive companies.
In 2019 NASA used KULR’s PPR solution to protect laptop computers onboard the International Space Station. KULR has collaborated with and is developing PPR solutions for a variety of government, military, research, and consumer applications.
“I believe KULR is one of the most advanced innovators of PPR technology, improving safety during shipment and storage of lithium-ion batteries -- especially for those with higher safety concerns created by manufacturing defects, physical damage, or exposure to specific elements such as heat or moisture,” said Robby Kinsala, CEO of Americase.
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 deep space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics 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 parent entity’s Form 10-K filed on March 29, 2019. 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. 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:
Keith Pinder
Landon Capital
Main: (404) 995-6671
kpinder@landoncapital.net
Media Contact:
Derek Newton
Head, Media Relations
(786) 499-8998
derek.newton@kulrtechnology.com