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KULR Technology Group, Inc.

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Market Data: Yahoo Finance, Bloomberg, SEC

Report Link: Initial Research Report (Dated 11/30/2020)

Symbol: KULR

Analyst: John Nobile

Taglich Rating: Speculative Buy

Price Target: $2.50

Time Horizon: 12 Months

Rating Established: November 30, 2020

Price When Established: $1.44

Most Recent Report: November 30, 2020

Price When Issued: $1.44

What's New

KULR Appoints VC Veteran Morio Kurosaki to the Board

On March 2, 2021, KULR Technology Group, Inc. (OTC: KULR) announced that Morio Kurosaki is joining the company as an independent director.

Kurosaki, founder and president of IT-Farm Corporation in Japan, led early investments in notable companies such as Zoom Video Communications; ContextLogic; Treasure Data, acquired by ARM Holdings; Tubi, acquired by Fox Corporation; Red Hot Labs, acquired by Google; lvl5, acquired by DoorDash; Accel Technology, acquired by Marvell Technology Group, and Extreme DA, acquired by Synopsis. He has also served as Asia-Pacific advisory member of ARM Holdings, acquired by SoftBank Group Corporation. Kurosaki started his business career at Intel Japan, thereafter joining Western Digital Corporation as one of the earliest members of its Japanese division. In 1988, he founded Aisys Corporation, a firm helping Silicon Valley start-ups gain exposure to the Japanese markets. In 1999, he founded IT-Farm Corporation as one of a few hands-on style venture capital firms in Japan.

KULR and CSA Group Partner to Develop New Battery Safety and Testing Procedures for Canada

On February 25, 2021, KULR Technology Group, Inc. (OTC: KULR) announced a joint collaboration with the CSA Group (formerly the Canadian Standards Association), a leading standards development organization and global provider of testing and certification services, to develop a new battery safety and testing procedure to be titled: C22.2 No. 350 Test Method for Safety and Performance of Thermal Barriers For Use in Batteries and Battery Based Energy Storage Systems.

KULR’s passive propagation resistant (PPR) design solutions prevent dangerous cell-to-cell thermal runaway propagation. The company’s collaboration with CSA Group is the most recent of several alliances KULR has formed to which it can apply its expertise and help shape the regulatory and industry standards for battery shipments.

KULR Provides Thermal Management Design Services to Global Aerospace and Defense Manufacturer

On January 7, 2021, KULR Technology Group, Inc. (OTC: KULR) announced it has provided thermal management design services to a global Tier-1 manufacturer of aerospace and defense technology to improve thermal subsystems needed for increased performance of hypersonic weapons.

KULR's advanced phase-change heatsink design services will assist the manufacturer in the design of hypersonic weapons with longer range and larger kinetic power than existing systems, which are limited by their inability to disperse heat.

KULR Completes Capital Raise, Issues Preliminary 4Q/20 Revenue

On January 6, 2021, KULR Technology Group, Inc. (OTC: KULR) announced the completion of an $8 million registered direct offering. The company has allocated the net proceeds to expand its product portfolio, pursue commercial growth opportunities, and repay short-term debt obligations. With an increase in shareholder’s equity and float, KULR expects the financing will help advance its up-listing objective, applications for which are currently underway.

Based on an initial review of its performance, KULR anticipates 4Q20 revenue to be in the range of $200,000 to $250,000, compared to 4Q19 revenue of $53,000.

Taglich Brothers projected 4Q20 revenue of $400,000.

KULR’s Battery Safety Technology Validated by Naval Surface Warfare Center

On December 10, 2020, KULR Technology Group, Inc. (OTC: KULR) highlighted a report conducted by the Naval Surface Warfare Center Carderock Division (NSWCCD) on the company’s battery safety technology. The report confirms that KULR’s thermal management solutions can prevent cell-to-cell propagation.

The NSWCCD report, titled, "Emerging Energy Storage Technologies," was commissioned and released by the Consumer Product Safety Commission and states that: "Incorporating a vaporizing heat sink from KULR could lead to significant mass savings and … was capable of preventing cell-to-cell propagations. … [battery] packs assembled and tested at NSWCCD with the KULR material (the Thermal Runaway Shield or TRS) were found to be highly effective at resisting cell-to-cell propagation when a trigger cell was externally heated to failure. Meanwhile, identical cells with identical configuration but no TRS underwent a complete cell-to-cell propagation under the same test conditions."

Conditions such as extreme heat, bumping and jostling, short circuit, constant high-demand use, or physical damage can cause a single battery cell in a multi-cell pack to fail. When this happens, the fire and heat of that single failure often trigger failure in neighboring cells. This causes a dangerous chain reaction that causes high energy fires and explosions. According to the NSWCCD report, it is these types of runaway or propagation risks that KULR’s solutions are capable of preventing.

Company Description

KULR Technology Group, Inc., headquartered in Campbell, California, develops and commercializes high-performance thermal management technologies for batteries, electronics, and other components.

Company Reports

Initial Research Report (Dated November 30, 2020)


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