Core Viewpoint - KULR Technology Group is actively engaging in the integration of AI and Bitcoin within corporate treasury strategies, positioning itself as a leader in advanced energy management and Bitcoin treasury initiatives [1][3][5]. Group 1: Conference Participation - KULR is a Silver sponsor of Strategy World 2025, a conference focused on AI and Bitcoin, taking place from May 5th to May 8th in Orlando, Florida [1][2]. - CEO Michael Mo will participate in a panel discussing "Corporate Bitcoin Success Stories," sharing insights from KULR's Bitcoin treasury strategy [4]. Group 2: Bitcoin Treasury Strategy - KULR has purchased over 660 BTC, valued at over $65 million, and plans to allocate up to 90% of its surplus cash to Bitcoin [3][6]. - The company aims to promote the benefits of a Bitcoin treasury and engage with industry leaders at the conference [3][5]. Group 3: AI Integration - KULR has rebranded its website to KULR.ai, reflecting its focus on integrating AI into its solutions, including AI-driven software for battery management systems [5]. - The company has partnered with EDOM Technology to enhance its energy management solutions across the global AI supply chain [5].

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research provided aims to maintain high quality despite language barriers [2]

Part I [Business](index=5&type=section&id=Item%201.%20Business) KULR specializes in energy storage, thermal management, and vibration reduction, expanding into new markets and adopting Bitcoin as a treasury asset - The company's core technology domains are energy storage systems and recycling, thermal management solutions, and rotary system vibration reduction[12](index=12&type=chunk) - KULR is expanding into energy storage and vibration reduction markets, targeting a combined addressable market exceeding **$500 billion by 2030** across energy storage, battery recycling, and aircraft maintenance[13](index=13&type=chunk)[14](index=14&type=chunk) - The company's primary product and service portfolio, KULR ONE Design Solutions (K1-DS), offers a holistic approach to battery development, from design and testing to transport and recycling[21](index=21&type=chunk) - KULR is developing the KULR Core™, which integrates its Battery Management System (BMS) with the Nvidia Jetson platform to create an AI-enabled compute and battery control system for space and robotics applications[31](index=31&type=chunk)[46](index=46&type=chunk) - In December 2024, the company adopted a Bitcoin treasury strategy, acquiring **217.18 BTC** for approximately **$21 million**[61](index=61&type=chunk)[117](index=117&type=chunk) - The company relocated its Texas facility to a much larger space (**17,560 sq ft vs. 4,800 sq ft**) to support growth and expand R&D and production capabilities[52](index=52&type=chunk) [Recent Developments](index=16&type=section&id=Recent%20Developments) KULR achieved record annual revenues in 2024, adopted a Bitcoin treasury program, and secured significant licensing agreements Key Financial and Strategic Developments in 2024 | Metric | Value/Detail | | :--- | :--- | | **Annual Revenue (2024)** | $10.7 million (record high) | | **Bitcoin Purchase (Dec 2024)** | 217.18 BTC for ~$21 million | | **ATM Offering Gross Proceeds (2024)** | $61.9 million | | **KULR VIBE License Deal** | $2.35M deal with $1.1M guaranteed minimum | | **CF Cathode License Deal** | 10-year agreement with a Japanese customer | | **Series A Preferred Stock** | 1,000,000 shares issued to CEO with 100 votes per share | - Subsequent to year-end, the company purchased an additional **449.45 Bitcoin** for ~**$44.5 million** and entered a 60-day lease for **2,500 bitcoin mining machines**[61](index=61&type=chunk) - The ATM offering was expanded multiple times, from an initial **$20 million to $96 million**, with the agent's commission reduced from **3% to 2.5%**[62](index=62&type=chunk) [Our Bitcoin Treasury Strategy](index=27&type=section&id=Our%20Bitcoin%20Treasury%20Strategy) KULR adopted Bitcoin as its primary treasury asset in December 2024, viewing it as a long-term store of value and inflation hedge - The company's rationale for holding Bitcoin is its belief that it is a reliable store of value, a hedge against inflation, and has the potential for significant appreciation, comparing it to digital gold[118](index=118&type=chunk) Bitcoin Holdings as of March 27, 2025 | Metric | Value | | :--- | :--- | | **Total Bitcoins Held** | ~669.11 (666.63 purchased + 2.48 mined) | | **Aggregate Purchase Price** | ~$65 million | | **Average Purchase Price** | ~$98,255 per bitcoin | | **Average Mined Price** | ~$84,225 per bitcoin | - KULR holds its Bitcoin in a custodial account at Coinbase, which is required to hold the assets in segregated accounts, and the company does not directly access its private keys[126](index=126&type=chunk)[127](index=127&type=chunk)[128](index=128&type=chunk) - The company does not currently intend to hedge its Bitcoin holdings but may consider it in the future[123](index=123&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) KULR faces significant risks from its limited operating history, new Bitcoin treasury strategy, and potential stock delisting or dilution [Risks Related to Our Business and Our Industry](index=35&type=section&id=Risks%20Related%20to%20Our%20Business%20and%20Our%20Industry) Key business risks include limited operating history, need for capital, supply chain disruptions, and customer concentration - The company has a limited operating history, has not yet achieved profitability, and will require substantial additional capital to fund future operations[146](index=146&type=chunk)[150](index=150&type=chunk) - The company is exposed to customer concentration risk, with two customers accounting for an aggregate of **25% of total revenue** in 2024[162](index=162&type=chunk) - The average sales cycle for products can range from **one to five years**, creating a long and complex path to revenue generation[159](index=159&type=chunk) - The company has limited experience in higher volume manufacturing, which is necessary to support profitable operations, and currently relies on outsourced partners for high-volume products[158](index=158&type=chunk) [Risks Relating to Our Bitcoin Treasury Strategy and Holdings](index=49&type=section&id=Risks%20Relating%20to%20Our%20Bitcoin%20Treasury%20Strategy%20and%20Holdings) Bitcoin treasury strategy exposes KULR to high volatility, counterparty risk, and regulatory uncertainty - Bitcoin is a highly volatile asset, with its price fluctuating between **$38,000 and $106,000** in 2024, which could significantly impact the company's financial condition[200](index=200&type=chunk) - The company is subject to counterparty risk, particularly with its custodians, potentially losing access to or the value of its Bitcoin holdings in the event of a custodian's bankruptcy[206](index=206&type=chunk) - The legal and regulatory landscape for digital assets is uncertain and evolving, and a determination that Bitcoin is a security could lead to the company being classified as an 'investment company' under the 1940 Act[212](index=212&type=chunk)[227](index=227&type=chunk) - The approval and trading of spot Bitcoin ETPs in January 2024 provides investors with alternative ways to gain exposure to Bitcoin, which could adversely affect the market price of KULR's common stock[218](index=218&type=chunk)[219](index=219&type=chunk) [Risks Relating to Our Common Stock and Preferred Stock](index=62&type=section&id=Risks%20Relating%20to%20Our%20Common%20Stock%20and%20Preferred%20Stock) Stock risks include potential delisting, dilution from future issuances, and concentrated voting power by the CEO - The company is subject to NYSE American continued listing requirements and has previously received non-compliance notices regarding stockholders' equity and low trading price, though it has since regained compliance[248](index=248&type=chunk)[249](index=249&type=chunk)[252](index=252&type=chunk) - The Chairman and CEO, Michael Mo, holds **1,000,000 shares** of Series A Voting Preferred Stock, with each share entitled to **100 votes**, giving him **31.78%** of the company's total voting power[265](index=265&type=chunk)[269](index=269&type=chunk) - The Board has the authority to issue additional common and preferred stock without shareholder approval, which could dilute existing shareholders and affect their voting power[256](index=256&type=chunk)[270](index=270&type=chunk) [Unresolved Staff Comments](index=69&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) As a smaller reporting company, KULR is not required to provide information for this item - The company, as a smaller reporting company, is not required to provide the information required by this item[274](index=274&type=chunk) [Cybersecurity](index=69&type=section&id=Item%201C.%20Cybersecurity) KULR manages cyber risks via a NIST-aligned program overseen by its CTO and Board, actively pursuing CMMC level 2 compliance - The company's cyber risk management program is based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework[280](index=280&type=chunk) - KULR is actively working with third-party specialists to institute controls for Cybersecurity Maturity Model Certification (CMMC) level 2 compliance[280](index=280&type=chunk) - The Chief Technology Officer (CTO), along with third-party providers, is responsible for the cyber risk program, and the Board of Directors provides oversight, receiving updates at quarterly meetings[277](index=277&type=chunk)[279](index=279&type=chunk) [Properties](index=71&type=section&id=Item%202.%20Properties) The company's principal executive office is located in Webster, Texas, in a recently expanded facility - The company's principal executive office is located at 555 Forge River Road, Suite 100, Webster, Texas 77598[283](index=283&type=chunk) [Legal Proceedings](index=71&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently a party to any legal or administrative proceedings - The company is not currently a party to any legal or administrative proceedings[284](index=284&type=chunk) [Mine Safety Disclosures](index=71&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[285](index=285&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=72&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) KULR common stock trades on NYSE American, with approximately 106 shareholders, and the company has not paid dividends - The company's common stock trades on the NYSE American under the symbol "KULR"[288](index=288&type=chunk) - As of March 27, 2025, the company had approximately **106 record and street shareholders**[290](index=290&type=chunk) - The company has never paid dividends and does not intend to pay any in the foreseeable future[291](index=291&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operation](index=72&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operation) KULR reported record 2024 revenue of **$10.7 million**, improved gross profit, reduced net loss, and strengthened liquidity with Bitcoin holdings [Consolidated Results of Operations](index=76&type=section&id=Consolidated%20Results%20of%20Operations) In 2024, revenue increased **9% to $10.7 million**, gross profit grew **50% to $5.5 million**, and net loss improved to **$17.5 million** Revenue by Type (2024 vs. 2023) | Revenue Type | 2024 | 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Product sales | $3,644,240 | $6,903,988 | -47% | | Contract services | $4,406,023 | $2,926,178 | +51% | | IP licensing | $2,687,218 | $0 | N/A | | **Total Revenue** | **$10,737,481** | **$9,830,166** | **+9%** | Key Operational Metrics (2024 vs. 2023) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | **Gross Profit** | $5,483,198 | $3,665,856 | | **Gross Margin** | 51% | 37% | | **R&D Expenses** | $4,738,305 | $7,135,452 | | **SG&A Expenses** | $15,979,852 | $18,942,350 | | **Net Loss** | $(17,523,629) | $(23,693,556) | - The increase in gross profit margin was primarily due to new licensing agreements that generated **$2.7 million** in revenue with no corresponding cost of revenue[319](index=319&type=chunk) [Liquidity and Capital Resources](index=80&type=section&id=Liquidity%20and%20Capital%20Resources) KULR significantly improved liquidity in 2024, ending with **$29.8 million** cash and **$20.3 million** Bitcoin, primarily from equity financing Financial Position (as of Dec 31) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | **Cash** | $29,831,858 | $1,194,764 | | **Bitcoin Holdings** | $20,281,184 | $0 | | **Working Capital** | $29,498,421 | $(2,994,753) | Cash Flow Summary (Year Ended Dec 31) | Cash Flow | 2024 | 2023 | | :--- | :--- | :--- | | **Operating Activities** | $(17,341,675) | $(11,965,387) | | **Investing Activities** | $(21,596,192) | $(1,046,113) | | **Financing Activities** | $67,574,961 | $3,872,701 | - The company's primary source of liquidity has shifted from debt to equity offerings, with the ATM providing **$61.9 million** in gross proceeds in 2024[336](index=336&type=chunk) - As of March 27, 2025, the company's cash and Bitcoin balances were approximately **$25 million** and **$58 million**, respectively[337](index=337&type=chunk) [Controls and Procedures](index=84&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that KULR's disclosure controls and internal control over financial reporting were effective as of December 31, 2024 - Management concluded that as of December 31, 2024, the company's disclosure controls and procedures were effective[345](index=345&type=chunk) - Based on an evaluation using the COSO 2013 framework, management concluded that the company's internal control over financial reporting was effective as of December 31, 2024[348](index=348&type=chunk) - The annual report does not contain an attestation report from the company's auditor on internal controls, as an exemption is available for smaller reporting companies[351](index=351&type=chunk) Part III [Directors, Executive Officers, and Corporate Governance](index=86&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%2C%20and%20Corporate%20Governance) KULR's leadership includes CEO Michael Mo, with a three-member Board of Directors, two of whom are independent, overseeing key committees - The Board of Directors consists of three members: Michael Mo (Chairman), Dr. Joanna Massey (Lead Director), and Donna Grier[356](index=356&type=chunk)[366](index=366&type=chunk) - The board has determined that directors Donna Grier and Dr. Joanna Massey are independent under NYSE American rules[368](index=368&type=chunk) - The Audit, Compensation, and Nominating and Corporate Governance committees are all composed of the two independent directors, Donna Grier and Dr. Joanna Massey[370](index=370&type=chunk)[373](index=373&type=chunk)[374](index=374&type=chunk) [Executive Compensation](index=92&type=section&id=Item%2011.%20Executive%20Compensation) 2024 executive compensation included salaries, bonuses, and stock awards, with CEO Michael Mo receiving **$475,239** total compensation 2024 Named Executive Officer Compensation | Name and Principal Position | Salary | Bonus | Stock Awards | Total Earned | | :--- | :--- | :--- | :--- | :--- | | Michael Mo, CEO | $272,196 | $100,000 | $103,043 | $475,239 | | Shawn Canter, CFO | $250,001 | $45,000 | $0 | $295,001 | | William Walker, CTO | $228,270 | $50,000 | $0 | $278,270 | - The company's 2018 Equity Incentive Plan authorizes up to **15,000,000 shares** for issuance to employees, directors, and consultants[386](index=386&type=chunk) - Independent directors receive significant compensation, with the Lead Director receiving **$150,000** in annual cash compensation and the non-Lead Director receiving **$70,000**, in addition to equity awards[387](index=387&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=95&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) CEO Michael Mo holds **31.69%** of total voting power due to Series A Preferred Stock, indicating concentrated control Security Ownership of Management (as of March 27, 2025) | Name of Beneficial Owner | Percentage Ownership (Common) | Vote With Series A Preferred | | :--- | :--- | :--- | | Michael Mo (CEO and Chairman) | 7.64% | 31.69% | | All directors and executive officers as a group (6 persons) | 8.21% | 32.11% | - CEO Michael Mo's significant voting power stems from his ownership of **1,000,000 shares** of Non-Convertible Series A Voting Preferred Stock, which entitles him to **100 votes per share**[391](index=391&type=chunk)[394](index=394&type=chunk) - Under the company's equity compensation plans, **5,095,017 securities** remained available for future issuance as of December 31, 2024[396](index=396&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=97&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) No material related party transactions were reported, and two of the three directors are determined to be independent - No material related party transactions were reported for the period since January 1, 2023, other than standard compensation arrangements[398](index=398&type=chunk) - The Board has determined that directors Dr. Joanna Massey and Ms. Donna Grier are independent[401](index=401&type=chunk) [Principal Accountant Fees and Services](index=97&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Marcum LLP served as the independent auditor, with audit fees of **$294,135** in 2024, and the Audit Committee pre-approves all services Accountant Fees | Fee Type | 2024 | 2023 | | :--- | :--- | :--- | | Audit Fees | $294,135 | $339,025 | | Tax Fees | $0 | $0 | | **Total** | **$294,135** | **$339,025** | - The Audit Committee has a pre-approval policy for all services provided by the independent auditors to ensure independence[406](index=406&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=100&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all exhibits filed with the Form 10-K, including key agreements and corporate governance documents - Key exhibits include the At The Market Offering Agreement (10.38), the Asset Purchase Agreement for Vibetech (10.30), and the Certificate of Designation for Series A Voting Preferred Stock (3.6)[410](index=410&type=chunk)[411](index=411&type=chunk)[412](index=412&type=chunk) Financial Statements and Notes [Consolidated Financial Statements](index=109&type=section&id=Consolidated%20Financial%20Statements) KULR's 2024 financial statements show significant asset growth to **$62.9 million**, reduced liabilities, and a positive stockholders' equity of **$57.4 million** Consolidated Balance Sheet Highlights (As of Dec 31) | Account | 2024 | 2023 | | :--- | :--- | :--- | | **Total Assets** | **$62,927,187** | **$10,864,356** | | Cash | $29,831,858 | $1,194,764 | | Digital Assets | $20,281,184 | $0 | | **Total Liabilities** | **$5,499,202** | **$13,047,052** | | Prepaid advance liability | $0 | $5,892,056 | | **Total Stockholders' Equity (Deficit)** | **$57,427,985** | **$(2,182,696)** | Consolidated Statement of Operations Highlights (Year Ended Dec 31) | Account | 2024 | 2023 | | :--- | :--- | :--- | | **Total Revenue** | $10,737,481 | $9,830,166 | | **Gross Profit** | $5,483,198 | $3,665,856 | | **Loss From Operations** | $(15,234,959) | $(22,411,946) | | **Net Loss** | **$(17,523,629)** | **$(23,693,556)** | | **Net Loss Per Share** | $(0.09) | $(0.20) | [Notes to Consolidated Financial Statements](index=115&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail accounting policies for digital assets, repayment of liabilities, changes in equity from ATM offerings, and subsequent Bitcoin purchases - The company adopted ASU 2023-08 for crypto assets, measuring them at fair value, holding **217.18 Bitcoin** with a cost basis of **$21.0 million** and a fair value of **$20.3 million** as of Dec 31, 2024, resulting in an unrealized loss of **$718,826** for the period[465](index=465&type=chunk)[524](index=524&type=chunk)[525](index=525&type=chunk) - The company fully repaid its prepaid advance liability to Yorkville in 2024 by issuing **21.8 million shares** valued at **$6.1 million** in satisfaction of the debt[545](index=545&type=chunk)[556](index=556&type=chunk) - In 2024, the company issued **74.8 million shares** under its ATM agreement for gross proceeds of **$61.9 million**, and subsequent to year-end, through March 27, 2025, it issued another **19.4 million shares** for gross proceeds of **$51.1 million**[593](index=593&type=chunk)[636](index=636&type=chunk) - Subsequent to year-end, the company purchased an additional **449.45 Bitcoin** and entered into a 60-day agreement to operate **2,500 bitcoin mining machines**[637](index=637&type=chunk)[640](index=640&type=chunk)

KULR Technology Group, Inc. (NYSE:KULR) Q4 2024 Earnings Conference Call March 27, 2025 4:30 PM ET Company Participants Stuart Smith - Investor Relations Michael Mo - Chief Executive Officer Shawn Canter - Chief Financial Officer Conference Call Participants Operator Good afternoon, and thank you for joining us for the KULR Technology Group Fourth Quarter and Full-Year 2024 Earnings Call. Joining me on the call today will be Michael Mo, the Chief Executive Officer of the company; as well as Shawn Canter, th ...

Financial Data and Key Metrics Changes - KULR closed Q4 2024 with revenue of approximately $3.37 million, a 44% increase from Q4 2023, while operating loss decreased by 29% year-over-year [6] - Gross margin improved to 64% in Q4 2024 from 29% in Q4 2023, and for the full year 2024, gross margin was 51% compared to 37% in 2023 [30] - The company ended 2024 with approximately $30 million in cash and $20 million in Bitcoin holdings, with total assets increasing to $63 million from $11 million at the end of 2023 [7][33] Business Line Data and Key Metrics Changes - Product sales revenue was approximately $3.6 million in 2024, down 47% year-over-year, while service revenue was approximately $4.4 million, up 51% from the previous year [29] - The number of paying customers increased to 71 in 2024, up from 53 in 2023, with product customers rising by 36% and service customers doubling to 34 [31] Market Data and Key Metrics Changes - KULR is focusing on energy management solutions for fast-growing markets such as space exploration, robotics, and AI infrastructure [8] - The company is expanding its headquarters in Texas to accommodate growth, reflecting a strategic move to enhance its operational capacity [10] Company Strategy and Development Direction - KULR aims to double its revenue in 2025 by growing its energy management business and expanding into new applications [9] - The company is positioning itself as a total solution provider for battery products in the aerospace and defense industries, having received AS9100 certification [11] Management's Comments on Operating Environment and Future Outlook - Management believes that space travel will become more affordable and prevalent, with significant opportunities in privatized space exploration [37] - The company is committed to its Bitcoin treasury strategy, viewing Bitcoin as a long-term store of value and a means to build a dynamic corporate culture [19][46] Other Important Information - KULR has signed its first two revenue-generating license agreements, recording $2.7 million in revenue from these deals [29] - The company is actively exploring partnerships in the Bitcoin mining sector to reduce energy costs associated with its operations [20] Q&A Session Summary Question: Will space travel become more prevalent over the next 10 years? - Management believes space travel will become more affordable and privatized space exploration will create significant market opportunities [37] Question: Are there plans to diversify crypto or buy more? - The company is focused on its Bitcoin treasury program and does not plan to diversify into other cryptocurrencies [39] Question: Can KULR confirm its relationship with Rocket Lab? - Management declined to comment on rumors regarding a partnership with Rocket Lab [44] Question: Why is a large portion of cash being invested into Bitcoin? - The treasury strategy aims to retain liquidity while building a Bitcoin treasury, considering it a good store of value [46] Question: What is the current status of KULR's battery contracts? - KULR is ready to take on larger contracts and has expanded its facility to support increased production capacity [52] Question: What opportunities exist for KULR with private space stations? - The KULR ONE Space platform is gaining traction with private space companies, especially with ongoing certification processes [71] Question: How much revenue in Q4 came from licensing deals? - KULR generated $1.7 million in revenue from licensing in Q4 2024 [67] Question: What is the current status of the Guardian ONE contract with the Army? - The company is conducting testing and targeting prototype production in fall 2025 [89]

Financial Performance - Revenue increased by 44% to $3.37 million in Q4 2024 from $2.33 million in the same period last year[4] - Operating loss decreased by 29% to $3.54 million in Q4 2024 from $4.97 million in the same period last year[4] - Gross margin improved to 64% in Q4 2024 compared to 29% in the same period last year[4] - Full-year 2024 revenue increased by 9% to $10.74 million from $9.83 million in 2023[8] - SG&A expenses decreased by 16% to $15.98 million in 2024 from $18.94 million in 2023[9] - R&D expenses decreased to $4.74 million in 2024 from $7.14 million in 2023[9] Cash Position - Cash position improved significantly to $29.83 million as of December 31, 2024, compared to $1.19 million as of December 31, 2023[11] Investments and Acquisitions - KULR expanded its Bitcoin holdings to 668.3 BTC, with a total investment of $65 million in Bitcoin acquisitions[4] - KULR signed a multi-million-dollar licensing agreement for advanced carbon fiber cathode applications for nuclear reactor systems in Japan[5] Future Plans - KULR plans to launch the KULR ONE Space battery in 2026, targeting a space battery market projected to grow from $3.9 billion to $6.35 billion by 2030[5]

HOUSTON, March 27, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced its financial results for the fourth quarter and full-year 2024. Fourth Quarter 2024 Financial Highlights: Revenue increased by 44% to $3.37 million from the same quarterly period of the prior year.Operating loss decreased by 29% to $3.54 million from the same quarterly period of the prior year.The Company had $29.83 milli ...

HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $5 million to reach a total of $65 million in bitcoin acquisitions. The additional purchases were made at a weighted average price of $88,824 per bitcoin, inclusive of fees and expenses. The Company now holds 668.3 BTC. This strategic move aligns with KU ...

HOUSTON, March 13, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management solutions, is proud to announce 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 abi ...

Core Insights - KULR Technology Group has secured a significant contract with a prominent private U.S. space company for its NASA-certified M35A battery cells, indicating a rising demand for its energy solutions [1][4] - The M35A cells are integral to NASA's Artemis II mission and are being incorporated into KULR's upcoming 400 watt-hour K1 Space battery, which is set for completion this month [1][2] - KULR's M35A cells meet NASA's rigorous 20793 standards, boasting an energy density of 214 watt-hours per kilogram at C/20 and -20°C, making them suitable for space missions [2][3] Company Developments - KULR's CEO highlighted the endorsement from a leading private space company as a testament to the performance and practicality of their energy solutions [3] - The company is actively collaborating with NASA to expand America's Strategic Battery Reserve, enhancing access to compliant cell formats and technologies for aerospace and defense applications [3][4] - KULR's holistic approach to energy storage solutions includes in-house battery design, testing, and production capabilities, allowing for rapid delivery of both commercial and custom systems [5] Market Position - The recent acquisition of M35A cells reinforces KULR's status as a trusted provider of advanced energy solutions, contributing to the advancement of space exploration [4] - The company aims to balance affordability with high safety and performance standards, ensuring transparency and quality assurance through traceable cell data [2][5]