KULR Technology Group, Inc 8-K, filed Jul 23, 2020
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on July 23, 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 23, 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 23, 2020, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that it will supply its carbon fiber thermal interface (FTI) material to Drako Motors, Silicon Valley manufacturer of the Drako GTE, a new ultra high performance electric supercar.
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 23, 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 23, 2020 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Technology Group Announces Supplier Partnership of NASA Grade Carbon Fiber Cooling Technology For Drako Motors Electric Supercar
Thermal architecture from the Mars 2020 Perseverance Rover enables Drako GTE to have the highest continuous output EV battery in production today
San Diego, CA (July 23, 2020) – KULR Technology Group, Inc. (OTCQB: KULR), (the “Company” or “KULR”), announced today it will supply its carbon fiber thermal interface (FTI) material to Drako Motors, Silicon Valley manufacturer of the Drako GTE, a new ultra high performance electric supercar. As part of KULR’s space-proven thermal architecture, FTI offers superior thermal conductivity, ultra-lightweight and flexible mechanical properties designed for space exploration and defense applications where efficient cooling and size and weight restrictions are paramount.
“In our collaboration with Drako Motors, we are demonstrating a reference design platform for the highest performance EV supercar in the world,” said Michael Mo, CEO of KULR. KULR is applying its space-proven technologies to a thermal management platform for EV applications -- which includes battery thermal management with FTI materials, battery safety with passive propagation resistant (PPR) design, battery safety testing with internal short circuit (ISC) technology, and electrical motor and component cooling with FTI and phase change material (PCM) solutions.
Drako Motors will utilize KULR’s proprietary FTI as part of the thermal management system in Drako GTE, the quad motor 1,200 horsepower, 206 mph luxury electric supercar. KULR’S technology was designed with NASA for regulating extreme temperatures of sensitive components in space and will be used by the Mars Perseverance Rover mission set for launch this July 30th, 2020. Drako Motors is drawing upon KULR's technical expertise building lightweight, high-performance thermal management solutions for space exploration -- including the NICER instrument on the International Space Station, the Mercury Messenger and the SHERLOC instrument on the Mars Rover.
“Anyone who’s ever held an electronic device knows batteries can get hot and high-performance, top-end batteries can get extremely hot when pushed to their limits,” said Michael Mo. “We’re excited to partner with Drako Motors in the thermal design of their battery packs -- the very best of thermal performance in space applied to the very pinnacle of EV performance on Earth. With a unique quad motor, 1,200 horsepower architecture designed for the absolute highest levels of automotive performance, Drako GTE is the ideal EV platform to showcase the superior performance of KULR’s thermal solutions.”
The battery in Drako GTE is designed from the ground-up for megawatt power output as well as cooling capabilities to withstand track level performance on the world’s most challenging circuits. With the ability to output 1,800 continuous and 2,200 peak amps, Drako GTE is believed to have the highest continuous output EV battery in production today.
“Designing the highest performance and most sophisticated electric supercar in the world requires extreme levels of technology and innovation.” said Shiv Sikand, Co-Founder and Executive Vice President of Drako Motors. “Utilizing KULR's battery cooling architecture developed for NASA's most demanding applications enables us to safely push the limits of electric vehicle performance on both road and track.”
About KULR Technology Group, Inc.
KULR Technology Group, Inc. 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 Drako Motors
Drako Motors was founded in San Jose, California by American entrepreneurs, Dean Drako and Shiv Sikand, with the mission of creating stunning, driver focused supercars that deliver exhilarating performance with maximum control and safety - on road and track. The company’s first limited production supercar, Drako GTE, blends stunning beauty from iconic automotive designer, Lowie Vermeersch and his Italian GranStudio team, with an ultra-advanced quad motor electric architecture. Drako GTE generates 1,200 hp, 8,800 Nm combined wheel torque and a 206 mph top speed while luxuriously accommodating four passengers and their luggage. Learn more at drakomotors.com. For press inquiries, please reach out to press@drakomotors.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:
Keith Pinder
Landon Capital
Main: (404) 995-6671
kpinder@landoncapital.net
Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
derek.newton@kulrtechnology.com