KULR Profile

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Revenue increased 146% to $9,830,166 in 2023 from $3,994,634 in 2022

KULR ENTERS INTO AN AGREEMENT WITH LOCKHEED MARTIN FOR HEAT SINK ADVANCEMENTS IN PRECISION MISSILE ELECTRONICS

KULR Secured a pivotal contract exceeding from Nanoracks who is now part of Voyager Space’s Exploration Segment

KULR Technology Group Lends Battery Production Infrastructure for Rapid Support of NASA’s R5 Program

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*****KULR INVESTOR PRESENTATION*****

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Hello Everyone,

We have another profile that we want you to research for tomorrows session.

This is a company that we have profiled many times over the past few years.

Most notably, we sent out emails and texts on March 21st when it opened up at .22 after a gap up in the am.

In less than 3 weeks this one exploded all the way up to .90 for a 300%+ move.

You can see it right there on the chart below.

Since then it has pulled back and it looks to have established new trading range.

KULR Technology Group Inc (NYSE: KULR) develops and commercializes high-performance thermal management technologies for batteries, electronics, and other components across an array of battery-powered applications. As the global economy becomes increasingly electrified and connected, KULR is addressing the rising demand for cooler, lighter, and safer 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 provides customers with industry-leading battery safety technologies as well as cost-effective cooling technologies that outperform traditional solutions. The world’s leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers trust KULR to solve safety, reliability, and efficiency challenges in an ethical and environmentally sustainable manner.

Active government initiatives propelled by industry and regulatory tailwinds are increasing demand for battery recycling and clean energy, resulting in an expanding total addressable market for KULR’s solutions. The Company’s disruptive technologies strive to fulfill an addressable $24 billion thermal management systems market (estimated based on market data projections published by Converged Markets stating that the thermal management systems market size was projected to grow from $11.1 billion in 2017 to $24.8 billion by 2025.  KULR’s integrated design approach offers comprehensive solutions in thermal interface materials, lightweight heat exchangers, and protection against lithium-ion battery thermal runaway propagation. Its high-performance solutions can be designed to fit demanding configurations and applications.

As companies and governments around the world pledge to meet net zero emissions over the next few decades, KULR is uniquely positioned to accelerate the adoption of clean energy solutions and sustainable products and facilitate the migration to a global circular economy. The Company’s goal is to provide total battery safety solutions for more efficient battery systems, increased sustainability, and end-of-life battery management, making KULR a key technology solutions provider in the migration to a global circular economy.

CATALYSTS

  • Leveraging KULR’s roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR provides customers with industry-leading battery safety technologies as well as cost-effective cooling technologies that outperform traditional solutions.
  • KULR is currently processing up to 10,000 lithium-ion cells per week as well as preparing for tests performed by NASA, the Department of Defense (“DoD”), and others performing manned flighted missions.  
  • KULR was awarded three additional contracts with DoD prime contractors to implement the Company’s carbon fiber cathode solution for high-power magnetic and other covert pulse weaponry initiatives.  
  • KULR also secured a new battery safety contract with NASA to test its lithium-ion cells for future battery packs designed for the Artemis Program, a series of US-led international human spaceflight programs.  
  • KULR recently appointed former NASA Johnson Space Center senior leader Dr. William Walker as Director of Engineering.
  • KULR expects to procure lithium-ion battery cells providing up to 500-megawatt hours (“MWh”) of energy capacity, enough to power approximately 40,000 homes.
  • KULR just received a follow-on phase change material heat sink order from Lockheed Martin  
  • KULR has partnered with Lockheed Martin, Leidos and other prime contractors to develop and supply mission-critical technologies for hypersonic vehicles, high-power magnetic wave, and other defense systems.  
  • KULR’s portfolio of thermal management solutions target air and liquid-cooling of high-performance computing applications such as crypto mining, cloud computing, AI, and AR/VR simulations to maximize performance, energy efficiency and safety.

KULR TECHNOLOGY GROUP REPORTS RECORD ANNUAL REVENUE FOR 2023

Full-Year 2023 Revenue Up 146% Year-Over-Year

SAN DIEGO / GLOBENEWSWIRE / April 12, 2024 / KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in sustainable energy management, today announced its financial results for full-year 2023.

Full-Year 2023 Financial Results:

Revenues: Revenue increased 146% to $9,830,166 in 2023 from $3,994,634 in 2022. The increase in revenue was mainly due to early success in the energy storage and battery transportation and recycling sectors. The Company continues to build its relationships with a wide range of energy, transport and aerospace partners and has billed 53 customers during the year ended December 31, 2023, a 47% increase from 36 billed customers during the year ended December 31, 2022. These additions reflect management’s commitment to build new customer relationships through a growing pool of referrals and business development leads.

Selling, General and Administrative (SG&A) Expenses: SG&A expenses increased to $19,882,402 in 2023 from $16,453,776 in 2022. The 21% increase was primarily due to increases in labor costs, and depreciation and amortization expenses due to expansion of our facility and equipment placed in service during 2023.

R&D expenses: R&D expenses in 2023 increased to $6,195,400 from $4,196,313 in 2022, reflecting an increase in employee headcount in order to build future capacity, and R&D initiatives designed to build future revenue growth.

As of December 31, 2023, the Company had 57 full time employees and 3 contractors compared to 62 full time employees and 16 contractors on December 31, 2022.

Net Loss: Net loss for 2023 increased to $23,693,556 or a loss of $0.20 per share, compared to $19,436,479 or a loss of $0.18 per share in 2022.

Cash Position: The Company reported cash balances of $1,194,764 as of December 31, 2023, compared to $10,333,563 as of December 31, 2022.

Recent Corporate Highlights:

  • Revenue has grown at a compound annual growth rate of 102% from 2021 through 2023.
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  • Secured a commitment exceeding $1 million with H55 Inc., a pioneer and global leader in electric propulsion. H55 will employ KULR’s unique Thermal Runaway Shield within its propulsion systems that equip fleets of industry behemoths such as Pratt & Whitney and CAE Inc. Embedding KULR’s TRS into H55’s Electrical Propulsion System (“EPS”) is critical for aligning with the European Union Aviation Safety Agency (“EASA”) safety protocols.
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  • Secured a pivotal contract exceeding $865,000 from Nanoracks (now part of Voyager Space’s Exploration Segment). Based in Webster, Texas, Voyager’s Exploration team is a prominent provider of commercial space services, specializing in satellite deployment, space station research, and the development of space habitats. The contract underscores KULR’s role in spearheading the accelerated development, testing and early production of a specialized space battery, aimed at enhancing Voyager’s CubeSat applications.
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  • Received a six-figure contract from Lockheed Martin for developing phase change material heat sinks that are pivotal for the thermal regulation of essential electronics within long-range precision missiles. This achievement follows a series of successful evaluations that showcased the efficiency of KULR’s solutions in cooling critical onboard systems.
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  • Received an initial purchase order from one of the world’s largest privately held space exploration companies for enhanced battery safety testing solutions, using the Company’s KULR ONE Design Solutions (“K1-DS”) platform. The proprietary K1-DS platform incorporates the most comprehensive design and testing methodology for battery safety. Though specific terms of the contract remain confidential, the customer has publicly forecasted a substantial ramp-up in its planned space missions as it continues to scale its satellite deployment throughout 2024.
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  • Confirmed collaboration with a leading U.S. automaker focusing on mitigating thermal runaway risks in EV battery modules through KULR’s advanced SafeCASE™ technology. This project underscores KULR’s commitment to safety and innovation in the rapidly growing electric vehicle market.
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  • Engaged by one of the few global leaders in space travel to design, develop, and deliver battery systems tailored for the rigorous demands of space travel. These batteries will power the dramatically growing commercial space business for KULR’s partner for its immediate needs and into the future. The commercial, economic, and mission-critical requirement for on-time delivery of consistently safe, reliable, and efficient battery power solutions coupled with the complex demands of space travel led this customer to KULR. While the program is already underway, upon achieving anticipated milestones, both KULR and its partner anticipate follow-on orders supporting a significant increase in the frequency and scale of planned space missions.
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  • Secured new special permits from the United States Department of Transportation related to its patented SafeX product suite, including SafeCASE™ and SafeSLEEVE™. The recently granted Special Permit 21693 and Special Permit 21704 cover transportation of damaged, defective, or recalled (“DDR”) batteries as well as end-of-life batteries to include the critical area of battery disposal and recycling, paving the way for safer and more sustainable battery recovery and reuse practices. The new special permits are expected to generate additional opportunities for KULR with both existing and new customers in various industries.

Energy Storage

The U.S. doubled its energy storage capacity in 2021 and is expected to increase 17x by 2030, according to Wood Mackenzie. Lithium-ion batteries are the dominant technology on the market for energy storage because of their cost and availability but do carry well documented safety risks. While rare, cell to cell thermal runaway in lithium-ion batteries can cause a fire or explosion. For example, an explosion at Arizona Public Service’s McMicken battery plant injured four emergency responders in 2019 and overheating caused the 1.2 GWh Moss Landing storage facility in California to go off-line. To reach net zero by mid-century will require an additional 245 GWh of battery capacity each year until 2030, but incidents of the like distill trust in battery technologies and threaten to slow the pace which is needed to achieve decarbonization goals. KULR’s passive propagation resistant (PPR) and thermal runaway shield (TRS) technologies prevent cell to cell thermal runaway propagation and inhibit fire and ejecta of a single cell from exiting the battery enclosure, making battery energy storage packs safe for homes, hospitals, schools, and universities, and more. KULR is partnering with leaders in the energy storage industry such as Volta Energy Products, the subsidiary of Buffalo NY based parent company, Viridi Parente, to increase deployments of safe, reliable, and durable energy storage safety systems to accelerate the broader energy transition.

Battery Recycling and Management

KULR-Tech Safe_Case provides a safe and cost-effective solution to commercially store and transport lithium batteries, which is increasing in frequency as supply chain challenges and ESG commitments necessitate battery recycling and end-of-lifecycle management. Whether shipping a single battery, a battery-powered device or a load shipment of batteries, KULR’s technology mitigates the impacts of cell-to-cell thermal runaway propagation and ensures a safe journey. KULR’s Thermal Runaway Shield (TRS) technology is trusted by NASA to ship and store astronauts’ laptop batteries on the International Space Station. In addition, KULR combines its Passive Propagation Resistant (PPR) solutions with its new CellCheck intelligent battery management system to extend battery life. The CellCheck modular battery management system platform is KULR’s AI-powered battery safety technology for e-mobility, energy storage and fleet applications. It captures real time and lifetime battery intelligence, sensing adverse electrical, environmental, and physical events to analyze and control for maximum battery safety, reliability, and performance. As commercial industries across the board face greater scrutiny to comply with ESG standards, KULR is serving a total addressable market for a circular economic model for batteries that will reach over $21 billion by 2025 (estimated based on market data projections published by Grand View Research, Inc. stating that the global battery recycling market size is expected to reach $21.04 billion by 2025).

E-mobility

KULR is supporting the shift to electrified transport by enabling safer, lighter, and faster charging lithium-ion batteries for electric vehicles and micro mobility solutions.KULR’s passive propagation resistant (PPR) battery pack solutions increase battery energy capacity while preventing thermal runaway events that can lead to hazardous explosions, helping the transportation industry to address growing public safety concerns around electric vehicles, electric aviation and micro-mobility markets.

Vehicle technology advancements and EV range anxiety requires more battery capacity to expand the range and power of existing platforms while adding new, power-demanding components for advances such as 5G data networks. The additional strain on batteries increases the risk for overheating and serious failures and can damage sensitive chip architecture. In addition, overheating has been a key limiting factor for advancing fast charging battery technology. KULR’s carbon fiber thermal management technologies reduce the thermal resistance inside battery cells while increasing electrical conductivity to dissipate heat more efficiently to enable the safe deployment of fast charging batteries. With KULR, automotive OEMs and battery manufacturers can increase the energy capacity of battery cells so less cells are needed, making for lighter vehicles that drive further before needing to be charged.

Aerospace/Defense

KULR’s thermal management solutions enable the defense and aerospace industries to safely deploy electronic technologies that support critical missions and protect national security.Technology in this sector is developing at increasing rates – the space industry alone will be worth nearly $3 trillion in 30 years. The electronic devices being placed into aircrafts, satellites, and missiles are becoming ever smaller and more powerful. Lithium-ion batteries, which are already prone to overheating and propagation, are exposed to harsh thermal environments as well as shock and vibration during aerospace and defense operations. KULR has partnered with Lockheed Martin, Leidos and other prime contractors to develop and supply mission-critical technologies for hypersonic vehicles, high-power magnetic wave, and other defense systems.

High-Powered Computing & 5G

Demand for improved, cost-effective cooling solutions in the rapidly growing 5G and cloud computing industries is ever-increasing. KULR’s portfolio of thermal management solutions target air and liquid-cooling of high-performance computing applications such as crypto mining, cloud computing, AI, and AR/VR simulations to maximize performance, energy efficiency and safety. KULR’s proprietary carbon fiber-based suite of thermal interface materials leverage advanced carbon fiber based heatsink technology that offers customers highly customizable, lightweight, and cost-effective solutions with industrial-level reliability due to their high thermal conductivity, lightweight, and low contact pressure.

New Battery Cell Development

KULR started a research and development initiative using carbon fiber structures to produce battery cells with higher energy density and faster charging capabilities. Fast-charging will be the killer app for next-gen batteries. Right now, overheating is a key limiting factor in advancing fast-charging battery technology. There may be a way to solve that problem by using carbon fiber inside the battery cell to reduce thermal and electrical resistance which can dissipate heat more effectively. The R&D initiatives include thicker cathode with higher loading factor, silicon anode, lithium metal anode and solid-state electrolyte development. This is a long-term strategic development for KULR.

Commercial Partnerships

KULR has a long-term technology and developmental partnership with Andretti Technologies (ATEC), the advanced technology arm of racing team Andretti Autosport. The alliance will establish a thermal management testing and design platform for high-performance battery solutions with the highest safety ratings that will be adapted to the technical requirements of Andretti’s racing enterprise with the goal of transferring solutions to mass-market electric vehicle (EV) applications.

New Facility and IT-Systems

KULR relocated in October 2021 to a new facility located at 4863 Shawline St, San Diego, CA. The facility is 3 times larger than the previous facility with adequate room to support the Company’s new automated battery cell testing capability that will launch in Q322 as well as personnel growth. Additionally, the Company installed independently enclosed areas to support the machine shop, testing lab, battery lab, and Fiber Thermal Interface Material (“FTI”) manufacturing lab. KULR has implemented a 5S standard for the entire facility and will seek ISO 9001 certification in June 2022.

KULR has engaged with Managed Solutions to enhance its IT infrastructure and improve all aspects of Cyber Security. As a sub-contractor for DOD programs, it was vital that KULR have state of the art IT systems and controls. The Company believes the best path based on the current scale of the company is to outsource this activity to a professional IT services organization. The result of this activity was an improvement of our NIST score of over 140 points.

EVOLUTION OF KULR

*** KULR PCM heat sink technology inside the International Space Station (ISS) Nicer telescope. (2016)

*** NASA testing of KULR TRS battery heatsink is best-in-class.  KULR awarded contract in upcoming Mars 2020 Rover mission.  Exclusive worldwide commercial license of NREL ISC testing device. (2017-2018)

*** KULR partners with Lockheed Martin to provide Thermal Management Solution (2018)

*** Product development with world-class partners and start of business expansion with focus on E-mobility and Battery Safety Markets.  (2019)

*** KULR Technology partnership with Leidos to supply NASA with Lithium-ion Battery Storage Solutions for the International Space Station. (2020)

KULR Experiences Fast-Growing Demand for Next-Gen EV Battery Safety and Testing Solutions with Order from Top Japanese Automaker

PUBLISHED

MAY 29, 2024 8:30AM EDT

Battery Testing and Analysis Services Unit to Generate $8 Million to $10 Million Revenue Annually Starting in 2025

SAN DIEGO, May 29, 2024 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in sustainable energy management, today announced it has secured a contract from a top Japanese multinational automaker (“Automaker”) for testing and analysis of high-energy battery cells intended for their next-generation electric vehicles. The Company will utilize its KULR ONE Design Solutions (K1-DS) platform to expedite design readiness for the Automaker’s future electric vehicle buildout.

KULR’s extensive spaceflight expertise and proprietary KULR ONE Design Solutions are integrated into its rigorous testing protocols, forming what KULR believes to be the world’s most comprehensive battery safety testing platform. These tests encompass Fractional Thermal Runaway Calorimetry (“FTRC”), bomb calorimetry, and impingement zone mapping, providing unparalleled cell-level characterization and insights to optimize battery safety.

Originally, K1-DS was developed to introduce customers to KULR products, with the goal of transitioning to volume production. While this remains the Company’s core objective, over time KULR has expanded its testing services, projecting it to become an annual $8 to $10 millionrevenue standalone business starting in 2025, without additional investment in testing capabilities.

New K1-DS contracts are in progress as KULR recognizes design services as a high-margin, recurring revenue stream, with the automotive sector being a prime target for ongoing business. This demand is largely driven by electric vehicle manufacturers’ continuous evaluation of next-generation cells for improved efficiency and faster charging times. According to last year’s International Energy Agency’s projection, electric vehicles, including fully electric and plug-in hybrid models, are expected to account for 35 percent of new vehicle sales worldwide by 2030. The Company expects the FTRC to remain widely used across various industries for assessing both current and future cell technologies.

KULR Technology Group Lends Battery Production Infrastructure for Rapid Support of NASA’s R5 Program

PUBLISHED

MAY 2, 2024 8:30AM EDT

KULR’s New Texas Battery Center of Excellence Facility Demonstrates Fast Turn-Around Timefor Customers

SAN DIEGO, May 02, 2024 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in safe and high-performance energy storage solutions, today announced the Company recently leveraged its battery production capabilities at its newly instituted Webster, Texas facility to support NASA with rapid technical aid and production assistance to help prepare the administration’s R5 flight battery for its quickly approaching Firefly mission. R5, or “Realizing Rapid, Reduced-cost high-Risk Research”, refers to CubeSats designed to operate in Low Earth Orbit (“LEO”) at an affordable cost.

Project objectives require the R5 teams to rely on commercial-off-the-shelf (“COTS”) components whenever possible. More information about the R5 program and its strategy can be found here. A recent round of testing revealed that the battery design required a more robust electrical interconnect (busbar) to supplement the COTS nature of the design. Within six hours of engagement, the KULR team was able to provide NASA’s R5 Team with a solution which successfully passed additional testing the following week. This engagement in particular highlights the collaborative spirit and mindset that drives the Company’s Webster, Texas facility where the singular goal is to provide rapid turnaround energy storage solutions, whether it be for KULR’s commercially marketed KULR ONE Space platform or something entirely customized, such as NASA’s R5 program. KULR’s current facility infrastructure was designed and built upon a goal of providing a holistic approach to battery design in the form of KULR ONE Design Solutions (K1-DS). With K1-DS, KULR can provide in-house and custom battery (1) Design, (2) Testing Services, (3) Analysis/Modeling, (4) Abuse Testing, (5) Cell-Level Characterization and Cycling, (6) Fabrication, and (7) Production Services, all in-one-shop.

Lithium battery technology has been utilized in satellites for over two decades, enhancing mission calendar life, reducing weight, and lowering total cost of ownership for satellite manufacturers and operators. As satellite manufacturers prioritize reduced size and costs, they are consistently seeking advancements in battery technology that offer lighter weight, longer lifespan, and enhanced safety. KULR’s comprehensive services, coupled with rapid response turnaround, uniquely position the Company to provide battery solutions for the space industry.

As the space sector enters a new era, the space economy is projected to reach $1.8 trillion by 2035, driven by the increasing prevalence of satellite and rocket-enabled technologies. This forecast comes from a recent collaborative report by the World Economic Forum and consultancy firm McKinsey & Company.

The KULR team, which maintains around-the-clock preparedness for rapid turnaround engagements such as the R5 program, continues to keenly focus on in-progress programs including, but not limited to, previously announced Army DEVCOM engagements (categorized as KULR ONE Guardian), expansion of the KULR ONE Space (K1S) portfolio into the CubeSat and SmallSat markets, customized battery design activities, and preparedness for low volume but high technical niche battery production. Additionally, KULR is currently relocating all abuse testing services to its Webster, Texas facility while expanding overall testing capacity by threefold.

William Walker, KULR CTO, stated, “The mission of KULR is bold and is more than just developing next generation energy storage systems. We aim to flip the script for how batteries are designed and what development timelines and costs customers can expect for both custom and semi-custom packs. What we are accomplishing in Webster, Texas exemplifies our execution towards accomplishing that mission. We look forward to adding additional capabilities to the facility soon, and more importantly, we look forward to continued customer engagements where we will focus on providing custom-designed KULR ONE solutions.”

ULR Technology Group and Amprius Technologies Form Strategic Partnership for Advanced Battery Packs

PUBLISHED

KULR ONE Space and KULR ONE Guardian Platforms to Integrate Amprius Silicon Anode SA10 Cells

SAN DIEGO, April 30, 2024 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in safe and high performance energy storage solutions, today announced a leap forward in battery technology tailored for defense and space applications as KULR Technology Group (NYSE: KULR) and Amprius Technologies (NYSE: AMPX) officially announce their strategic partnership. This collaboration heralds the integration of Amprius’ innovative high performance cylindrical cell into KULR ONE Space and Guardian battery architectures, renowned for their high reliability and robust safety protection, for aerospace and military applications. At the heart of this partnership is Amprius’silicon-anode SA10 cells, which are set to provide a tactical edge through superior energy density and discharge capability. The incorporation of these cells into KULR ONE Space & Guardian reference designs will ensure a propagation-resistant structure, equipped with the necessary safety measures to meet stringent specifications for defense and space operations.

KULR Amprius Lockup

KULR Technology Group is poised to incorporate these cutting-edge cells into forthcoming standard battery models like the BB 2590 and into commercialized variations of the KULR ONE Space 100 to 400 Wh variations, harnessing our NASA-certified screening practices, or similar, to bolster safety. This crucial step meets a fundamental requirement for battery packs destined for crewed space flights, in compliance with the NASA JSC 20793 standard and for next generation military battery packs required to satisfy extensive environmental testing requirements such as MIL-STD-810H. Working jointly with Amprius and NASA, KULR is committed to securing the essential approvals for the SA10’s use in battery packs for these vital missions and applications.

A recent collaborative report by the World Economic Forum and consultancy firm McKinsey & Company highlights the potential of the global space economy to address major industry and societal issues. The report forecasts that by 2035 the sector’s valuation could reach $1.8 trillion, putting it on par with the influential semiconductor industry. The study envisions space technologies becoming as integral to daily life as semiconductors are currently, driven primarily by advancements in communications positioning, navigation and timing, and Earth observation services.

KULR CEO Michael Mo remarked, “The innovation encapsulated within the SA10 cell, and the agility demonstrated by Amprius align seamlessly with our commitment to serving high reliability sectors. This is an ideal strategic partnership for our KULR ONE platform utilizing their high energy density cell. Together, we are positioned to exceed the expectations of our mission-critical customers.”

Amprius Technologies’ CEO Dr. Kang Sun praised the alliance, stating, “KULR’s unwavering dedication to safety and innovation, coupled with their ability to rapidly produce prototypes, is indispensable. KULR’s adoption of Amprius’ industry-leading cell based on the SiCore™ product line not only allows us to enter new markets with cutting-edge technology, but it also propels ongoing development for future demands.”

This strategic partnership sets a new standard for battery solutions in high-stakes environments, reflecting both companies’ visions for a safer, more efficient future. The integration of Amprius’ SA10 cells into KULR’s battery packs is poised to revolutionize the landscape of power sources for the defense and aerospace sectors, offering unprecedented reliability and safety.

About Amprius Technologies, Inc.Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries producing the industry’s highest known energy density cells. The company’s commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third party validation of 500Wh/kg and 1,300 Wh/L. The company’s corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into a lease agreement for an approximately 774,000 square foot facility in Brighton, Colorado, and expanded its product portfolio to include the SiCore™ platform. For additional information, please visit amprius.com. Also, see the company’s LinkedIn and X pages.

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KULR NEWS

KULR MANAGEMENT TEAM

MICHAEL MO

CHIEF EXECUTIVE OFFICER

Mr. Mo is a technology entrepreneur and successful investor with over 20 years of experience in technology management, product development, and marketing. From 2007 to 2015, Mr. Mo served as Senior Director of Business Development at Amlogic, Inc. Prior to Amlogic, he was co-founder and CEO of Sympeer Technology, a peer-to-peer network company. Mr. Mo received a Master’s degree in Electrical Engineering from UC Santa Barbara in 1995.

KEITH COCHRAN

PRESIDENT & COO

Mr. Cochran is a value-driven leader offering 25+ years of exceptional high-paced business management and operations expertise. From 1995 to 2019, he worked for world-class EMS, Jabil, Inc. He concluded his 24-year career with Jabil as Sr. Vice President of Global Business Units. Prior to Jabil, Mr. Cochran was Supply Chain Manager for SCI Systems. Mr. Cochran received his Bachelor of Science in Business Operations from DeVry Institute of Technology in 1990.

DR. WILLIAM WALKER

CHIEF TECHNOLOGY OFFICER

Dr. Walker has significant experience in professional and research-related activities focused on thermo-electrochemical testing and analysis of lithium-ion (Li-ion) battery assemblies and related thermal management products designed for space exploration applications. Prior to joining KULR, Dr. Walker was employed by the National Aeronautics and Space Administration (NASA) Johnson Space Center (JSC) where he focused on designing battery assemblies for human spaceflight applications capable of safely mitigating the effects of thermal runaway and preventing cell-to-cell propagation. Dr. Walker received his B.S. in Mechanical Engineering at West Texas A&M University (WTAMU) and Ph.D. in Materials Science and Engineering at the University of Houston (UH).

SIMON WESTBROOK

CHIEF FINANCIAL OFFICER

In 2009, Mr. Westbrook founded Aargo, Inc., a company specializing in financial consulting services to corporations in various tech-related industries. Prior to Aargo, Mr. Westbrook was CFO of Amber Networks, Inc., and the Chief Financial Officer of Sage, Inc. (NASDAQ: SAGI), a Silicon Valley company specializing in flat panel displays. Before Sage, Mr. Westbrook held senior level financial positions at Creative Technology (NASDAQ: CREAF) and Atari Corp (AMEX: ATC). Simon is a Chartered Accountant and holds a Master’s degree in Economics from Trinity College, Cambridge University.

MICHAEL G. CARPENTER

VICE PRESIDENT OF ENGINEERING

Mr. Carpenter was former Director and Safety Officer of Energy Science Laboratories PCM Heatsink Group. He also served as Quality Manager and Facility Security Officer in the Defense Industrial Security Program from 1988 to 1995. Mr. Carpenter received a B.S. in Applied Mechanics from UC San Diego in 1983.

TED KRUPP

VICE PRESIDENT OF SALES AND MARKETING

Mr. Krupp joins KULR with over 22 years of supplying MIL-SPEC computing solutions to U.S. military and intelligence system integrators. Prior to joining KULR, Mr. Krupp served as Vice President of Sales at San Diego based ZMicro, the preferred choice for rugged computing and visualization for deployed and mission critical applications. He expanded ZMicro’s involvement in several platforms, including special operations, ground vehicle systems, tactical datalinks, and next-generation ISR and eventually led ZMicro’s sales department as the company continued to grow in prominence across the Department of Defense and foreign military community. Mr. Krupp completed his undergraduate work in Information Systems at the University of Texas.

ANTONIO MARTINEZ

VICE PRESIDENT OF OPERATIONS

Mr. Martinez joins KULR with over 37 years of leadership and worldwide manufacturing experience in Electronics Manufacturing and Operations. He spent most of his career at Pulse Electronics Corporation in the electronics manufacturing services industry. Most recently he served as Principal Program Manager of Jabil since 2015, managing business operations spanning Quality Assurance Readiness, Large Production Line Transfers, Project Management, Process Improvement with Increased Productivity, and Customer Qualification Support.

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