***Sponsored by Primetime Profiles, LLC
In the first quarter that ended March 31, 2025, revenue increased 40% to $2.45 million compared to $1.75 million reported in the same period last year
KULR and AstroForge Partner to Develop Advanced 500Wh Battery Pack for Space Missions
KULR Expands Bitcoin Holdings to 920 BTC as of
KULR has a strong financial position with over $100M in cash and Bitcoin holdings and virtually no debt Last Month
Year to date, KULR has delivered a 260% return on its Bitcoin holdings
The Company Just Consolidated Last Month with a 1 for 8 Reverse Split
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Hello Everyone,
We have a fan favorite back as our final profile of the week. In fact, this was the biggest winner that we profiled all of last year. Now a lot has changed and this is not the same exact company that we were looking at. We profiled this one several times last year and we saw some MASSIVE movement from this one. We were profiling it at .40 before it shot up over 4 bucks. It ran over 1200% from where we were profiling this one, making it the KING of our newsletter for 2024.
The company just completed a reverse…… reducing the float.
KULR Technology Group, Inc. (NYSE American: KULR) is a Bitcoin First Company that delivers cutting edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company’s holistic offering allows delivery of commercial-off-the-shelf and custom next generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. Since late 2024, KULR has included bitcoin as a primary asset in its treasury program and committed to allocating up to 90% of its excess cash to the acquisition of bitcoin.
KULR just joined Russell 3000® Index marking another important milestone in their growth trajectory and is expected to enhance both their visibility and liquidity among institutional investors, with approximately $10.6T in assets being benchmarked against Russell US indexes. KULR inclusion in the Russell 3000® Index triggers automatic purchasing from index funds and ETFs that track this benchmark, potentially creating meaningful bu∙ying pressure on the stock.
2025 is a transformational year for KULR and the transformation is well on its way. With over a hundred million in ca∙sh and Bitcoin holdings on their balance sheet and virtually no debt, they’re well-capitalized to grow their battery and AI robotics businesses while their capital market activities in the foreseeable future are geared to turbocharge their Bitcoin acquisition strategy, establishing KULR is a pioneer BTC-first Bitcoin treasury company.
What is a BTC-first company? A Bitcoin-first company treats Bitcoin not as a side asset or payment option, but as a core pillar of its identity, strategy, and mission. KULR’s journey of transformation is riding the wave of the greatest digital transformation in human history, intelligence, capital, and energy. Digital transformation of intelligence is AI, digital transformation of capital and energy is Bitcoin.
KULR announced their first purchase of BTC on December 26th for $21M. Since then, they’ve amassed over 920 Bitcoins in their treasury. KULR owns 920 bitcoins as of July 7, 2025. The company’s total Bitcoin investment now stands at approx. $100M. Year to date, KULR has delivered a 260% return on its Bitcoin holdings.
Recent Highlights
- Strong Financial Position: KULR has a strong financial position with over $100M in cash and Bitcoin holdings and virtually no debt.
- Facility and Production Expansion: KULR expanded its facility to 31,000 square feet, effectively doubling its battery production capacity.
- Strong Bitcoin Holdings: KULR owns 920 bitcoins as of July 7th, 2025. The company’s total Bitcoin investment now stands at approx. $100M. Year to date, KULR has delivered a 260% return on its Bitcoin holdings.
- Strategic Partnerships and Grants: KULR secured a $6.7M grant from the Texas Space Commission for next-generation space battery systems and partnered with German Bionic to distribute exoskeleton suits in North America.
- NASA-Certified Battery Cells: KULR’s NASA-certified M35A battery cells were selected by a leading private U.S. space company for integration into their spaceflight programs, according to KULR Technology.
- Leverage Energy Expertise to Serve Space, Robotics, and AI markets: KULR expands into high-growth robotics market with German Bionic AI-Powered Exoskeletons for U.S. Workforce.
- Joins Russell 3000® Index, Gains Access to $10.6Trl: KULR just joined Russell 3000® Index marking another important milestone in their growth trajectory and is expected to enhance both their visibility and liquidity among institutional investors, with approximately $10.6T in assets being benchmarked against Russell US indexes. KULR inclusion in the Russell 3000® Index triggers automatic purchasing from index funds and ETFs that track this benchmark, potentially creating meaningful buying pressure on the stock.
KULR Technology Group Reports First Quarter 2025 Financial Results
HOUSTON, May 15, 2025 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in advanced energy management solutions, today reported results for the first quarter ended March 31, 2025.
“2025 is a transformational year for KULR and the transformation is well on its way,” commented KULR CEO Michael Mo. “With over $100M in cash and Bitcoin holdings on our balance sheet as of the present day and virtually no debt, we are well capitalized to grow our battery and AI Robotics businesses, while our capital market activities in the foreseeable future are geared to turbocharge our Bitcoin acquisition strategy, establishing KULR as a pioneer BTC-First Bitcoin Treasury Company.”
First Quarter 2025 Financial ResultsRevenues: In the first quarter that ended March 31, 2025, revenue increased 40% to $2.45 million compared to $1.75 million reported in the same period last year. Product sales increased 88.7%, with revenue of approximately $1.16 million versus approximately $615 thousand in the same quarter last year.
Cash and Accounts Receivable: As of March 31, 2025, the Company had cash and current accounts receivable combined of $27.59 million.
Gross Margins: Gross margin was 8% in the quarter ending March 31, 2025, compared to 29% in the same period last year. The decrease in gross margins was primarily due to unanticipated labor hours needed to complete technical projects. Selling, General and Administrative (SG&A) Expenses: SG&A expenses increased to $7.20 million in the first quarter of 2025 from $4.21 million in the same period last year. The increase in SG&A expenses was primarily due to increases in advertising and marketing services as well as stock-based compensation. Research and Development (R&D) Expenses: R&D expenses in the first quarter of 2025 increased to $2.45 million from $955 thousand in the same period last year. The higher investment in R&D reflects a planned increase in R&D consulting services. Operating Loss: Loss from operations was $9.44 million for the first quarter of 2025, compared to $4.66 million from the same period last year. Higher operating loss in the first quarter was driven by an increase in both SG&A expenses and investment in R&D. Net Loss: Net loss for the first quarter of 2025 was $18.81 million, or a loss of $0.07 per share, compared to a net loss of $5.0 million, or a loss of $0.04 per share from the same period last year. Higher net loss in the first quarter was primarily driven by a mark-to-market of the Company’s bitcoin holdings as compared to December 31, 2024.
Management Commentary KULR Chief Financial Officer, Shawn Canter, said with respect to the first quarter results, “We are proud to put up another same quarter over quarter positive beat. We extended our streak of record trailing-twelve-months revenue, and we continue to demonstrate our leadership as a bitcoin treasury company. While our earnings saw the impact of a non-cash mark-to-market non-operational expense, this is just a function of timing, daily market fluctuations, and the new accounting rules which we adopted early. We remain steadfast in our BTC treasury strategy and look past these short-term changes in price.” When asked about operational updates, Canter commented, “We have decided not to renew our San Diego lease, which expires this November. We will consolidate operations into Webster, Texas. This decision aligns with our ongoing efficiency and productivity improvement efforts.”
First Quarter 2025 and Recent Corporate Highlights:
- KULR Awarded $6.7M by Texas Space Commission to Advance Cold-Temperature KULR ONE Space Battery Platform. The Company announced it had been awarded $6,703,500 by the Texas Space Commission as part of a $26 million grant award focused on strengthening Texas’ leadership in space exploration and technology. The announcement was made public by the Commission and covered by SpaceNews. The initiative is being carried out in close collaboration with NASA Johnson Space Center(JSC) and in partnership with South 8 Technologies, aligning public, private, and academic stakeholders to deliver scalable, space-rated battery technology. Throughout the program, which is awaiting final approval, KULR will manage the design, testing, and production of lithium-ion cells using liquefied gas (LiGas) electrolyte from South 8 Technologies. These cells will operate down to -60°C and be integrated into the KULR ONE Space platform, optimized for extreme environments encountered during lunar and Martian missions. Located just minutes from NASA Johnson Space Center, KULR’s Webster, TX facility will serve as the engineering and test hub for this effort, performing advanced battery safety testing and performance validation. The project aligns with NASA’s Artemis objectives by reducing heater energy requirements, improving safety margins, and enabling longer-duration operations in deep space environments.
- KULR Expands into High-Growth Robotics Market with German Bionic AI-Powered Exoskeletons for U.S. Workforce. The Company announced the launch of a new strategic partnership with German Bionic (“GB”), a leading global robotics company known for its groundbreaking robotic exoskeleton, Apogee ULTRA, to expand into the rapidly growing fields of robotics and artificial intelligence. GB counts global logistics companies, large retailers, hospitals, and major international airports among its customers, including Dachser Intelligent Logistics, GXO, Nuremberg Airport, Canadian Tire, the British consumer electronics retailer Currys, and the Charité Hospital Berlin. According to Spherical Insights, the global wearable robotic exoskeleton market size is expected to reach $41.5 billion by 2033. The initiative includes the formation of a dedicated business unit, KULR AI & Robotics, aimed at driving innovation and commercialization of affordable and mature robotic solutions to support the US workforce and reshoring of manufacturing. The sixth-generation Apogee ULTRA is a proven, in-market solution engineered for large-scale deployment. Apogee ULTRA and anticipated future generations of the exoskeleton can enhance human energy output significantly and materially reduce workplace injuries, driving outsized returns on investment, employee satisfaction and retention, and reduced healthcare costs. This technology has demonstrated success across multiple sectors, including delivery logistics, supply chain solutions, manufacturing, construction, and healthcare. Key elements of the partnership include a collaborative technology effort to further enhance the capabilities of Apogee ULTRA, the world’s most powerful exoskeleton, focused on performance improvements, AI integration, and increased user adaptability. KULR will also hold exclusive marketing and distribution rights for North America, establishing the Company as the primary provider of GB’s products spanning all industries. KULR’s expansion into this sector aligns with US strategic priorities to expand domestic manufacturing and industry. The Company aims to become a key player in the next generation of AI-powered, human-centered robotic technologies serving delivery logistics, supply chain solutions, manufacturing, construction, and healthcare. Looking ahead, KULR plans to localize the manufacturing and assembly of future generation exoskeletons within the United States, supporting domestic supply chain resilience, reducing lead times, and enhancing scalability for widespread adoption.
- KULR Expands Bitcoin Holdings to 716 BTC, Reports 197.5% BTC Yield. The Company announced it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $4 million to reach a total of $69 million in bitcoin acquisitions. The additional purchases were made at a weighted average price of $94,403 per bitcoin, inclusive of fees and expenses. The Company now holds 716 BTC. Year to date, KULR has achieved a BTC Yield of 197.5%, leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases. KULR uses “BTC Yield” as a key performance indicator (KPI) for its Bitcoin Treasury strategy. BTC Yield is calculated as the percentage change period-to-period in the ratio of the Company’s bitcoin holdings to its Assumed Fully Diluted Shares Outstanding. This KPI helps assess the effectiveness of KULR’s bitcoin acquisition strategy in a manner KULR believes drives shareholder value.
- KULR and AstroForge Partner to Develop Advanced 500Wh Battery Pack for Space Missions. The Company announced a strategic collaboration with AstroForge, an asteroid resource extraction pioneer, to develop a custom 500 watt-hour (Wh) KULR ONE Space (K1S) battery pack. This partnership highlights the surging demand for reliable high-performance battery systems in the growing space battery market, projected to expand from $3.9 billion to $6.35 billion by 2030, according to Virtue Market Research. The new 500Wh K1S design leverages KULR’s established modules and NASA JSC 20793-compliant architectures to deliver a fast-to-market solution tailored to AstroForge’s mission-critical needs. Built using NASA-approved cells, validated under WI-37 screening processes, the K1S pack showcases KULR’s engineering prowess in optimizing the design for maximum volumetric and gravimetric energy density. Paired with KULR’s advanced Battery Management System, the solution meets AstroForge’s stringent functional, mechanical, and interface requirements while ensuring un-compromised safety and performance in space. This collaboration builds on KULR’s proven K1S platform — launched as the first commercial-off-the-shelf lithium-ion battery series fully compliant with NASA safety standards — demonstrating its adaptability to the unique challenges of cutting-edge space missions. The result is a scalable high-efficiency energy solution that accelerates deployment and enhances mission reliability.
- KULR Launches Blockchain to Create Secure and Verifiable Supply Chain. The Company announced the launch of a blockchain-secured supply chain initiative to safeguard product-related data being offered to their customers. Moving supply chain verification and custody tracking from proprietary software onto a distributed ledger will increase transparency and security. One of the initial products that will be recorded on the blockchain will include lithium-ion batteries screened to meet NASA’s WI 37A rigorous methodology. Utilizing the blockchain to create a secure and immutable record of the testing data will benefit all future users of these batteries, who will have access to proven testing results. Each battery that KULR manufactures will have its metadata minted as a non-fungible token (NFT) on the blockchain. When a battery is purchased, the NFT can be transferred to the buyer’s on-chain wallet or moved to a “burn” wallet maintained by KULR to indicate ownership has been transferred. For large quantity customers, KULR will establish wallets to easily transfer NFTs associated with their orders. KULR designed an internal UI tool that synchronizes with encrypted KULR-owned wallets to view the current inventory. The Company has built a customized rollup to Coinbase’s Base L2 chain, which is ultimately built on Ethereum.
- KULR’s NASA-Certified M35A Battery Cells Selected by Leading Private U.S. Space Company. The Company announced that a prominent private U.S. space company has acquired its NASA-certified M35A battery cells for integration into their spaceflight programs. This milestone underscores the growing demand for KULR’s high-performance, cost-effective energy solutions. This latest purchase highlights the M35A’s versatility and KULR’s ability to support both commercial and government aerospace initiatives. Already an integral component of NASA’s Artemis II mission, the M35A cells are also being incorporated into KULR’s innovative 400 watt-hour K1 Space battery, which is set for completion this month and will undergo NASA safety board review soon after. Designed to meet NASA’s rigorous 20793 standards, the M35A cells offer an unparalleled combination of reliability, energy density, and adaptability. With a proven energy density of 214 watt-hours per kilogram at C/20 and -20°C, these cells are ideally suited for the demanding conditions of space missions.
KULR Launches Blockchain to Create Secure and Verifiable Supply Chain
HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in advanced energy management solutions, today announced the launch of a blockchain-secured supply chain initiative to safeguard product-related data being offered to their customers. Moving supply chain verification and custody tracking from proprietary software onto a distributed ledger will increase transparency and security.
Decentralizing the inventory tracking system on a blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain. By recording each inventory item as a tamper-proof, timestamped entry on a distributed ledger, KULR eliminates the risk of data manipulation and ensures that all stakeholders have access to a single source of truth. This reduces reliance on centralized systems that are vulnerable to outages or unauthorized access. Additionally, blockchain’s traceability features enable KULR to verify product authenticity, monitor asset movement, and streamline audits.
One of the initial products that will be recorded on the blockchain will include lithium-ion batteries screened to meet NASA’s WI 37A rigorous methodology. Utilizing the blockchain to create a secure and immutable record of the testing data will benefit all future users of these batteries, who will have access to proven testing results.
“After launching our bitcoin treasury strategy last December, we became curious about what other aspects of the crypto ecosystem could benefit our business operations. Moving our supply chain tracking onto the blockchain seemed like a natural move for us,” KULR CEO Michael Mo commented on today’s news. “We are leveraging proven blockchain technologies to deliver commercial applications that provide our customers with a trustworthy data source and improved operational efficiency. I firmly believe many aerospace products and commercial products could benefit from an immutable and verifiable chain of custody.”
Each battery that KULR manufactures will have its metadata minted as a non-fungible token (NFT) on the blockchain. When a battery is purchased, the NFT can be transferred to the buyer’s on-chain wallet or moved to a “burn” wallet maintained by KULR to indicate ownership has been transferred. For large quantity customers, KULR will establish wallets to easily transfer NFTs associated with their orders. KULR designed an internal UI tool that synchronizes with encrypted KULR-owned wallets to view the current inventory.
The Company has built a customized rollup to Coinbase’s Base L2 chain, which is ultimately built on Ethereum.
On December 4, 2024, KULR announced board approval to commit up to 90% of its surplus cash reserves to be held in bitcoin. To date, KULR has acquired 668 BTC. As a result of KULR’s Bitcoin Treasury, CEO Michael Mo will be speaking at Strategy World next week in Orlando, Florida. Mr. Mo will be presenting a case study on KULR’s experience establishing and maintaining a bitcoin treasury.
For more information about KULR Technology Group and its bitcoin strategy, please visit www.kulr.ai.
ULR and AstroForge Partner to Develop Advanced 500Wh Battery Pack for Space Missions
HOUSTON, April 24, 2025 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a global leader in advanced energy management solutions, today announced a strategic collaboration with AstroForge, an asteroid resource extraction pioneer, to develop a custom 500 watt-hour (Wh) KULR ONE Space (K1S) battery pack. This partnership highlights the surging demand for reliable high-performance battery systems in the growing space battery market, projected to expand from $3.9 billion to $6.35 billion by 2030, according to Virtue Market Research.
The new 500Wh K1S design leverages KULR’s established modules and NASA JSC 20793-compliant architectures to deliver a fast-to-market solution tailored to AstroForge’s mission-critical needs. Built using NASA-approved cells, validated under WI-37 screening processes, the K1S pack showcases KULR’s engineering prowess in optimizing the design for maximum volumetric and gravimetric energy density. Paired with KULR’s advanced Battery Management System, the solution meets AstroForge’s stringent functional, mechanical, and interface requirements while ensuring uncompromised safety and performance in space.
This collaboration builds on KULR’s proven K1S platform — launched as the first commercial-off-the-shelf lithium-ion battery series fully compliant with NASA safety standards — demonstrating its adaptability to the unique challenges of cutting-edge space missions. The result is a scalable high-efficiency energy solution that accelerates deployment and enhances mission reliability.
“This iteration reflects the third design format of the KULR ONE Space architecture and will focus on energy density and reliability,” said Dr. Will Walker, Chief Technology Officer of KULR Technology Group. “From compact CubeSats to complex resource extraction missions, our modular NASA-compliant designs provide the flexibility and performance our partners demand in a constantly evolving space landscape.”
Robyn Ringuette, Chief Operating Officer of AstroForge, highlighted the partnership’s impact: “KULR’s expertise in working with NASA-approved architectures and delivering a customized solution in record time was a game-changer for our program. Their ability to maximize energy density while meeting our exact specifications ensured we could stay on schedule without sacrificing safety or performance, key to achieving our mission objectives.”
The partnership signals a strengthening network of relationships between KULR and trailblazing companies in the space industry, as demand for innovative energy solutions continues to rise. By blending proven technology with agile design capabilities, KULR is solidifying its leadership in the space battery market, empowering customers to succeed in the most demanding environments.
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.
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 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 Expands into High-Growth Robotics Market with German Bionic AI-Powered Exoskeletons for U.S. Workforce
HOUSTON, April 15, 2025 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leader in advanced energy management platforms, today announced the launch of a new strategic partnership with German Bionic(“GB”), a leading global robotics company known for its groundbreaking robotic exoskeleton, Apogee ULTRA, to expand into the rapidly growing fields of robotics and artificial intelligence. GB counts global logistics companies, large retailers, hospitals, and major international airports among its customers, including Dachser Intelligent Logistics, GXO, Nuremberg Airport, Canadian Tire, the British consumer electronics retailer Currys, and the Charité Hospital Berlin. According to Spherical Insights, the global wearable robotic exoskeleton market size is expected to reach $41.5 billion by 2033.
The initiative includes the formation of a dedicated business unit, KULR AI & Robotics, aimed at driving innovation and commercialization of affordable and mature robotic solutions to support the US workforce and reshoring of manufacturing. During their EOY and Q4 earnings call, KULR also announced that their website has been updated and relaunched as KULR.ai to reflect this shift and the introduction of the new business unit. The new unit will be led by Josh Steinmann, VP of AI and Robotics.
“This partnership exemplifies our broader strategy to leverage our energy management expertise and become a key enabler of the robotics and AI ecosystem, as these applications demand higher battery performance and more efficient thermal management for their high-performance electronics,” said Michael Mo, CEO of KULR Technology Group. “AI is a critical enabler of robotics, and we’re aggressively focused on this area – through this partnership and other strategic initiatives – to help shape the future of human-machine interface.”
“We are pleased to have KULR as a key partner, joining us in the journey to scale and deliver the world’s strongest data-driven exoskeletons to North America and beyond,” says Armin G. Schmidt, Founder and CEO of German Bionic. “At the core of our innovation is a clear understanding of energy as a fundamental force – something unseen yet essential in driving both progress and human advancement. Our exoskeletons are designed to empower and elevate frontline workers, unlocking their full potential each day. This partnership is the natural unfolding of our mission to infuse the world with greater value, vitality, and purpose.”
The sixth-generation Apogee ULTRA is a proven, in-market solution engineered for large-scale deployment. Apogee ULTRA and anticipated future generations of the exoskeleton can enhance human energy output significantly and materially reduce workplace injuries, driving outsized returns on investment, employee satisfaction and retention, and reduced healthcare costs. This technology has demonstrated success across multiple sectors, including delivery logistics, supply chain solutions, manufacturing, construction, and healthcare.
Key elements of the partnership include a collaborative technology effort to further enhance the capabilities of Apogee ULTRA, the world’s most powerful exoskeleton, focused on performance improvements, AI integration, and increased user adaptability. KULR will also hold exclusive marketing and distribution rights for North America, establishing the Company as the primary provider of GB’s products spanning all industries.
KULR’s expansion into this sector aligns with US strategic priorities to expand domestic manufacturing and industry. The Company aims to become a key player in the next generation of AI-powered, human-centered robotic technologies serving delivery logistics, supply chain solutions, manufacturing, construction, and healthcare. Looking ahead, KULRplans to localize the manufacturing and assembly of future generation exoskeletons within the United States, supporting domestic supply chain resilience, reducing lead times, and enhancing scalability for widespread adoption.
About KULR Technology Group Inc. KULR Technology Group Inc. (NYSE American: KULR) delivers cutting-edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company’s holistic offering allows the delivery of commercial off-the-shelf and custom next-generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. On December 4, 2024, KULR announced that its Board of Directors has agreed to include bitcoin as a primary asset in its treasury program and committed to allocating up to 90% of its surplus cash to the acquisition of bitcoin. For more information, please visit www.KULR.ai.
About German BionicGerman Bionic is a global robotics firm that develops and manufactures smart power suits and other wearable technologies. It was the world’s first company to deliver connected exoskeletons for the workplace, applying self-learning and artificial intelligence to support lifting movements and prevent poor posture, and thereby becoming an intelligent link between humans and machines. The German Bionic smart power suits and wearables protect the health of workers and markedly reduce the risk of accidents and injury to improve work processes. In recognition of this innovative technology, which puts people back at the center of Industry 5.0, German Bionic has received numerous awards including the CES “Best of Innovation” Award, the Fast Company “Innovation by Design Award”, and the “Innovation Champion” Award of the European Investment Bank. German Bionic is headquartered in Germany and the US, with offices in Berlin, Augsburg, Boston and Tokyo. For more information, visit: www.germanbionic.com.
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KULR NEWS
KULR to Consolidate Shares as Part of Broader Market Positioning Strategy
Jun 13, 2025
KULR Joins “Bitcoin for Corporations” Initiative Led by Strategy™ and Bitcoin Magazine
Jun 9, 2025
KULR Expands Bitcoin Holdings to 800 BTC, Reports 220.2% BTC Yield
May 20, 2025
KULR Technology Group Reports First Quarter 2025 Financial Results
May 15, 2025
May 6, 2025
KULR Launches Blockchain to Create Secure and Verifiable Supply Chain
May 1, 2025
KULR and AstroForge Partner to Develop Advanced 500Wh Battery Pack for Space Missions
Apr 24, 2025
Apr 22, 2025
Apr 15, 2025
KULR CEO Michael Mo to Speak at Strategy World 2025
Apr 10, 2025
KULR Reports Record Fourth Quarter Revenue and Full-Year 2024 Financial Results
Mar 27, 2025
KULR Expands Bitcoin Holdings to 668 BTC, Reports 181.1% BTC Yield
Mar 25, 2025
KULR’s NASA-Certified M35A Battery Cells Selected by Leading Private U.S. Space Company
Mar 13, 2025
Mar 11, 2025
KULR Achieves AS9100 Certification
Feb 20, 2025
KULR and Worksport Forge Strategic Partnership to Advance Battery Technology and U.S. Manufacturing
Feb 13, 2025
KULR Expands Bitcoin Holdings to 610 BTC, Reports 167% BTC Yield
Feb 11, 2025
Jan 27, 2025
KULR Technology and Scripps Research Collaborate on Novel Pyrolytic Carbon Electrode Technology
Jan 22, 2025
Jan 21, 2025
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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