KULR Technology Group, Inc 8-K, filed May 4, 2023
KULR Technology Group, Inc. (KULR)
About this 8-K
KULR Technology Group, Inc filed this 8-K on May 4, 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
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| Item 7.01 | Regulation FD Disclosure |
On May 4, 2023, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that it has entered into a seven-figure agreement with the U.S. Army for developing a safe, high-energy battery storage platform using next generation silicon anode lithium-ion cells.
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 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 May 4, 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: May 4, 2023 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Awarded Initial $1.13M U.S. Army Contract to Develop Next Generation High-Energy Battery Packs with KULR ONE Design Solutions
SAN DIEGO / GLOBENEWSWIRE / May 04, 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, today announced the United States Army awarded a $1.13M contract to KULR for developing a safe, high-energy battery storage platform using next generation silicon anode lithium-ion cells. KULR will utilize KULR ONE Design Solutions platform to fast track this new design through prototyping phases and into manufacturing readiness for U.S. Army’s advanced aviation applications. Development activities had begun at the end of April 2023 and are slated to run through early 2024.
KULR ONE Design Solutions (K1DS) platform incorporates the most comprehensive design and testing methodology for battery safety that includes: Fractional Thermal Runaway Calorimetry (“FTRC”), bomb calorimetry, and impingement zone mapping, performing a comprehensive cell level characterization of the thermal runaway behavior of the customer’s cells. Testing data gathered during this process will guide the design decisions by the KULR engineering team.
The Phase One contract is an important milestone for the Company. We are focused on commercializing the safety architecture boasted by the KULR ONE platform, which utilizes the latest high-power battery cells from E-One Moli Energy. Furthermore, the cells used for the U.S. Army production batteries will be screened by KULR's newly completed cell screening automation line. Last week, it was announced that the Company shall be the sole provider for an automated cell screening project from NASA.
"We are proud to support military operational readiness with advanced next-generation energy storage platforms," said KULR CEO Michael Mo. "Our breakthrough KULR ONE Design Solutions has enabled leading aerospace, electronics, and energy storage manufactures to develop lighter, safer, and more thermally efficient products. Now, by developing next generation high-energy silicon anode battery packs into smaller and lighter power sources for deployed applications, we can implement measures that enhance the capabilities and resilience of soldiers in the field. We are very excited to help solve the difficult problems facing operational preparedness for the U.S. Armed Forces and its allies.”
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