Breaking News! (NYSE: KULR) Inks Blockbuster Contract with “Tier-1 Aerospace and Defense Manufacturer”

KULR Inks Huge Contract with “Tier-1 Aerospace & Defense Manufacturer” Revenue Potential $6 to $7 Mln over Multiple Years! Hi “FDR” Member, This is Michael Reece with “FinancialDrivenResearch” delivering you a quick update. Not only are their technicals signaling breakout, the company also just released more big news which is about to gain the streets attention! KULR to Develop Advanced Thermal Management for Aerospace Applications; Multi-Year Contract Worth Between $6 Million to $7 Million SAN DIEGO, Nov. 16, 2023 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced an initial engagement with a Tier-1 aerospace and defense manufacturer (“Tier-1 Manufacturer”). The contract, with a revenue potential of between $6 million to $7 million over multiple years, involves the development of a Phase Change Material Module (“PCMM”) designed to ensure thermal stability for critical components used in space environments. KULR's proprietary PCMM will be a key element in the broader program, serving to maintain precise temperature control under the extreme conditions of space operations. A prototype unit will be developed first, enabling the Tier-1 Manufacturer to conduct thorough performance evaluations in preparation for the subsequent flight units. “This new venture is a landmark achievement for us at KULR,” said Michael Mo, CEO and Co-Founder of KULR Technology Group. "It's a natural synergy, aligning the customer’s needs with our specialized thermal management solutions. While this is our first project together, we are enthusiastic about the potential for a long-term partnership." The collaboration highlights KULR's commitment to delivering high-quality, reliable thermal management technology, and lays the groundwork for potential future engagements. ----------------------------------------------------------------------------------------------- There Are Several Potential Breakout Catalysts in Play Right Now! Are you watching (KULR)? KULR just released news they inked Blockbuster Contract with “Tier-1 Aerospace & Defense Manufacturer” revenue potential $6 to $7 Mln over multiple years, and on tuesday released gang-buster earnings news and Wall Street is having a field day with it as traders rush into driving the price and volume sky-high. The stock is surging premarket right now hitting a premarket high of $.42 for a +27.27% Gain from my alert. The question is how high can (KULR) go? KULR has three Wall Street analysts predicting bullish upside potential to as high as $7.00/share 12 - month forecast! Litchfield Hills Research issued an Analyst report putting a $7.00 price target on KULR representing an incredible upside potential of 1,700% from the current price! Overall, technical indicators are signaling a "Bullish STRONG BUY Rating" based on Investing.com technical analysis. Make sure you have KULR pulled up on your trading screen. [ See Full Price Target Research Report Here Now ]( There Are Several Potential Breakout Catalysts in Play Right Now! [BREAKING NEWS!] 4,800% Increase Contract Revenue Services KULR on Track with Analysts’ Q4 Forecasts Not only are their technicals screaming breakout, the company also just released big news which is starting to gain the streets attention! The Company has several potential bullish catalysts in play right now, and is on the verge of Disrupting a $554 Bln Energy Storage Market, with exciting news announced 4,800% Increase Contract Revenue Services KULR on Track with Analysts’ Q4 Forecasts, revenue increased to $3.04 Mln from $1.39 Mln reported in the same period last year, with revenues more than doubling - or an increase of approximately 118%. Contract Services revenue increased over 4,800%, with revenue of approximately $1.14 Mln versus approximately $20 thousand in the same quarter last year. Product revenue for the quarter was approximately $1.90 Mln, up from approximately $1.37 Mln during the same period last year for an increase of over 38%. KULR Technology Group Reports Third Quarter 2023 Financial Results; Company on Track with Analysts’ Q4 Forecasts SAN DIEGO, Nov. 14, 2023 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today reported results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Results Revenues: In the third quarter that ended September 30, 2023, revenue increased to $3.04 million from $1.39 million reported in the same period last year, with revenues more than doubling - or an increase of approximately 118%. Contract Services revenue increased over 4,800%, with revenue of approximately $1.14 million versus approximately $20 thousand in the same quarter last year. Product revenue for the quarter was approximately $1.90 million, up from approximately $1.37 million during the same period last year for an increase of over 38%. Cash and Accounts Receivable: As of September 30, 2023, the Company had cash and accounts receivable combined of $2.46 million. Gross Margins: Gross margin was 44% in the quarter ending September 30, 2023, compared to 33% in the same period last year. Selling, General and Administrative (SG&A) Expenses: SG&A expenses increased to $4.79 million in the third quarter of 2023 from $4.35 million in the same period last year. The increase in SG&A expenses was primarily due to increases in labor costs. Research and Development (R&D) Expenses: R&D expenses in the third quarter of 2023 increased to $1.64 million from $1.07 million in the same period last year. The increased investment in R&D reflects the increasing customer demand and servicing the growing sales pipeline. Operating Loss: Loss from operations was $5.10 million for the third quarter of 2023, compared to $4.96 million from the same period last year. Operating loss in the third quarter was driven by SG&A expenses and investment in R&D. Net Loss: Net loss for the third quarter of 2023 was $5.56 million, or a loss of $0.05 per share, compared to a net loss of $5.59 million, or a loss of $0.05 per share from the same period last year. Management Commentary KULR Chief Financial Officer Shawn Canter noted, “KULR posted another record quarter – the second in a row – with revenue more than double that of the same quarter of 2022, and triple the revenues seen in the first nine-months of this year versus the same nine-month period last year.” Commenting on KULR’s renewed focus on capital allocation, Canter said, “It is important to highlight that through the first 9 months of 2023, we reduced our cash used for operations by almost 20% against the same time period last year all while increasing revenue by 244%.” Looking forward, President and Chief Operating Officer Keith Cochran pointed out, “Management is enthusiastic about this continued growth trend. Given what our team is seeing today, management is confidently on track and comfortable with analysts’ fourth quarter 2023 revenue estimates.” Third Quarter 2023 and Recent Operational Highlights: - KULR Selected by a Top 5 American Electric Truck Manufacturer to Test and Design Safer Next-Gen Batteries. The Manufacturer has publicly forecasted a substantial ramp-up in production of its electric SUVs and trucks next year with KULR’s safer and superior battery performance to distinguish itself from rivals and unlock its expected growth. According to Research and Markets (2022), the U.S. electric truck market is expected to grow at a 54% CAGR and reach $15 billion by 2030. - KULR and Cirba Solutions Announced a Groundbreaking National Recycling Program for Lithium-Ion Batteries and Battery Material Packaging. This collaboration focuses on developing a safe transportation platform for original equipment manufacturers (“OEM’s”) to store and transport prototype, end of life, damaged, defective, and recalled lithium-ion batteries by utilizing KULR’s SafeCASE™, and Cirba Solutions’ nationwide logistics and recycling services. The collaboration between KULR and Cirba Solutions is an exclusive nationwide program. - KULR Secured Third NASA Order for Automated Battery Cell Testing Services. KULR's latest purchase order from the National Aeronautics and Space Administration (“NASA”), is part of a multi-phase agreement for its advanced automated battery cell screening system. According to Straits Research, the global battery cell testing market was valued at $5 billion in 2021 and is anticipated to reach $7 billion by 2030. - KULR and Forge Nano Formed a Strategic Partnership for Enhanced Battery Safety and Performance. This partnership will utilize the KULR ONE Design Solutions platform to develop next generation battery packs with Forge Nano’s proprietary battery cell technology. The strategic partnership is estimated as a $3.5 million to $5 million revenue oppor∙tunity. - KULR Technology Group Supplies Velos Rotors with Vibration Reduction Technology. KULR partnered with Velos Rotors ("VELOS") to provide its KULR VIBE service as an added enhancement to the Velos V3 UAV helicopter for reducing vibration and increasing balance of UAV payloads that are highly sensitive to the impact of aircraft vibration. KULR Is an Early-Stage EV Conglomerate Taking the Industry by Storm! This company strikes me as soon to be potential take-over candidate. They have inked deals with NASA, U.S. Air Force, and the Department of Transportation to name a few. KULR Technology Group, Inc. (NYSE: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for 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 Technology enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. In October, the company announced it had received a contract from a top-5 American electric truck manufacturer to develop newer and safer batteries for its next-generation fleet of electric trucks and SUVs. Selecting KULR for that job is no coincidence. The KULR ONE Design Solutions (K1DS) platform is more than best-in-class; it can expedite the evolution of next-generation electric trucks and SUVs that need safer battery power. That deal is good news for KULR, EV consumers, and the unnamed manufacturer. While KULR Technology didn't name the manufacturer, they did point to that company publicly forecasting a substantial ramp-up in production of its electric truck in 2024 and, more importantly to KULR and its investors, utilize the company’s safer and superior battery performance to distinguish itself from rivals and unlock its expected growth. Business with them could lead to more, especially with Research and Markets reporting that the US electric truck market is expected to grow at a 54% CAGR and reach $15 Bln by 2030. There’s more supporting the value proposition. A week before that announcement, KULR said it had entered into a Memorandum of Understanding with privately-held precision nanocoating technology company Forge Nano. The strategic partnership is expected to generate initial revenues between $3.5 Mln to $5 Mln, resulting from the combined offerings of the KULR ONE Design Solutions platform and Forge Nano's proprietary Atomic Layer Deposition coating process, which they believe will serve as a breakthrough product to serve demand from OEM partners by providing unmatched battery safety and efficiency. The deal doesn't stop there. KULR Technology further said that the strategic partnership will assess Forge Nano's premium battery cells for space and US Department of Defense applications. The evaluation process involves utilizing KULR's automated cell screening to measure voltage, temperature, and impedance of individual battery cells, analyzing the data to identify potential issues, and optimizing battery cell performance compliant within the strict NASA flight specification reference points. Incidentally, KULR also recently announced securing a third order for automated battery cell screening services from NASA. That modular screening technology allows for ease of scalability, a requirement for the forthcoming partnership that expects an appreciable uptick in screened cell sales. Breaking News Hits The Wire (Read Now) KULR and United States Army Extend Previously Awarded Contract SAN DIEGO, Oct. 30, 2023 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced an extension to its previously awarded contract with the United States Army (“Army”) following promising initial results. The Army has extended its collaboration with KULR to continue the development, testing, and analysis of next generation lithium-ion battery cells incorporating the Company’s battery storage platform, KULR ONE Design Solutions ("K1-DS"). The development activities that began in April 2023, continue to progress and, are slated to run through 2024. "This extension serves as a testament to the transformative potential of our technology and the trust the US Army has put in us to partner with them to achieve their goal of developing state-of-the-art energy storage solutions," said KULR CEO Michael Mo. “To be trusted by the US Army to provide cutting edge effectiveness and safety in energy solutions to our soldiers is an honor. We look forward to completing our extensive K1-DS design and testing process so the Army can move into production as soon as possible of these next generation energy storage solutions that meet the Army’s high technical and safety standards.” In addition to the U.S. Army project, KULR recently announced it became the sole provider of an automated cell screening effort for NASA further demonstrating KULR’s track record of excellence. KULR was awarded an initial $1.13 Mln U.S. Army contract to develop next generation high-energy battery packs employing the KULR ONE Design Solutions (“K1-DS”) platform. KULR will utilize the K1-DS platform to fast track this new design through prototyping phases and into manufacturing readiness for the U.S. Army’s advanced aviation applications. Development activities began at the end of April 2023 and are slated to run through early 2024. Management believes this timeline sets a new standard for what could have historically taken several years. KULR partnered with a world leading provider of drone-powered package delivery services. KULR Technology Group will leverage its K1-DS platform and proprietary technology for the development of high-capacity lithium battery packs for use in last-mile delivery, which is the most expensive and time-consuming part of the shipping process. KULR received an additional development contract from a branch within the United States Armed Forces to develop high-energy battery packs for uninterruptible power supplies to mobile command centers. This contract is another example of how the KULR ONE Design Solutions platform offers KULR partners unique, comprehensive solutions that management believes result in the safest battery solutions for high energy and demanding applications. KULR provided safe battery testing solutions to a top 5 global manufacturer in the electric vertical take-off and landing (“eVTOL") sector. The tests are to be completed in the third quarter of 2023 and will further advance eVTOL battery safety as federal regulators look to put forward certification rules for the emerging eVTOL air taxi market. KULR announced expansion of its SafeCASE™ product line for electric bikes and the overall consumer e-mobility market. KULR Technology is bringing to the consumer market the same patented technology it provides NASA to protect astronauts on the International Space Station and manned space missions. With over 300 million e-bikes alone in use around the world today and growing at double-digit percentages, the threat of battery related fires is real and growing. KULR is actively engaged in discussions with multi-family Homeowner Associations, lawmakers, community leaders, as well as those that represent urban multi-story buildings to provide unique solutions to meet or exceed current and anticipated regulations. “For the 4th straight quarter, KULR has posted record trailing twelve months revenue. As the results indicate, we continue to satisfy growing customer demand from both within our existing customer base and with new customers,” said KULR CFO Shawn Canter. “In the first half of 2023, our preliminary estimates suggest KULR has already generated more revenue than all of 2022. As we head into the back half of 2023 and into 2024, we are upbeat regarding the trends around KULR’s increasing revenue ramp, pipeline, and expanding margins.” KULR Receives Seed Capital From Several Bln Inve∙stment Firms KULR received its early funding from inv∙estors willing to bet that this young company, arguably with technology ahead of its time, had the potential to change the world. One of those seed investors was Xia Zuoquan, founding inv∙estor and director of BYD Co. Ltd., China’s largest rechargeable battery maker. He also founded Zhengxuan Capital, an inv∙estment firm with over $1.5 Bln in assets under management, and in 2018 – the same year he joined KULR’s advisory board – Zuoquan was named to the Forbes China Rich List. Among more than 30 inv∙estments under Zhengxuan Capital, Zuoquan is an early inv∙estor in UBTech, a $5 Bln consumer robotics company, as well as in OneSpace, a competitor to Virgin Orbit and Rocket Lab. Another backer of KULR, is Morio Kurosaki – a seasoned executive and inv∙estor in Japan’s IT industry – joined KULR’s advisory board earlier this year. Like Zuoquan, Kurosaki is n∙o stranger to inv∙estments in budding technologies. Morio Kurosaki led early inv∙estments in Zoom (NASDAQ:ZM); ContextLogic (NASDAQ:WISH); Treasure Data, acquired by ARM Holdings (NASDAQ:NVDA); Tubi, acquired by Fox Corporation (NASDAQ:FOX); Red Hot Labs, acquired by Google (NASDAQ:GOOGL); lvl5, acquired by DoorDash (NYSE:DASH); Accel Technology, acquired by Marvell Technology Group (NASDAQ:MRVL); and Extreme DA, acquired by Synopsis (NASDAQ:SNPS). Current KULR Market Cap $101.876 Million KULR a microcap with a valuation around approx. $101.876 Mln currently according to yahoo finance – spent years refining and co-developing its technology in collaboration with NASA while working with leaders in aerospace like Boeing (NYSE:BA), Ball Aerospace (NYSE:BLL), Airbus (OTC:EADSY), Lockheed Martin (NYSE:LMT), Leidos (NYSE:LDOS) and Raytheon (NYSE:RTX). To that end, KULR products have been used in the most extreme conditions where malfunction is not an option. Laptops on the International Space Station (ISS) use KULR technology and so does the Perseverance Rover currently cruising around Mars searching for signs of ancient life. To that end, KULR products have been used in the most extreme conditions where malfunction is not an option. Laptops on the International Space Station (ISS) use KULR technology and so does the Perseverance Rover currently cruising around Mars searching for signs of ancient life. KULR Is Pioneering The $554 Bln Do∙llar EV Market KULR is pioneering the global EV market with its breakthrough technology. That's a big consideration when assessing a more appropriate value for its stock. Remember, its expertise in providing thermal management and lithium-Ion battery safety solutions is essential to the growing energy storage market, which is expected to reach $554 Bln by 2035. Why is that a big deal for KULR? Because its Thermal Runaway Shield (TRS) technology prevents battery explosions. And industries are paying attention, as evidenced by the International Space Station and NASA utilizing KULR's proprietary carbon fiber technology to handle the massive heat needing to be absorbed by its products. And they aren't the only ones interested. KULR has also expanded its strategic relationship with E-One Moli Energy Corporation for Molicel's battery cell supply, accelerating its role in serving high-value clients in an estimated $350 Mln market. They aren't the only ones adding to previously announced agreements and contracts. Lockheed Martin provided KULR a follow-on order for its PCM heat sink technology. Financial considerations weren't disclosed, but it's fair to assume that the potential from the deal, once LMT is through its evaluations, could lead to a massive contract. If so, it will add to the three-year multi-mln deployment order for its Passive Propagation Resistant ("PPR") solution suite from Volta Energy Products, a subsidiary of Viridi Parente Inc. This company just announced raising $95 Mln, much of which will be inv∙ested in developing 'fail-safe' lithium-ion battery technology. That's not all. KULR also announced expanding a battery safety contract with NASA to test its lithium-ion cells for battery packs designed for the Artemis Program, a series of US-led international human spaceflight programs. That's not the first time NASA utilized KULR's technology; its innovative carbon fiber thermal management solutions are included on the Mars Perseverance Rover and also used to keep components from freezing during NASA's NICER mission. Furthermore, KULR collaborated on a project to safely ship and store laptop batteries aboard the International Space Station using its Thermal Runaway Shield (TRS) technology. Most simply, KULR's technology is being used to protect multi-bill∙ion do∙llar assets. That does more than provide testament to its value; it validates it. KULR Invents Breakthrough Technology For The Lithium Battery That results from KULR's integrated design approach offering comprehensive solutions in thermal interface materials, lightweight heat exchangers, and protection against lithium-ion battery thermal runaway propagation. Those capabilities are being met with enthusiasm, especially from its ability to be designed to fit demanding configurations and applications. That led to deals with some of the largest car companies in the EV sector, including a partnership with Andretti Technologies (ATEC) to provide thermal management and battery safety solutions to its electric SUV extreme racing team Andretti United Extreme E. That deal can also benefit from joint research to potentially co-market proprietary battery products and solutions. The EV sector isn't alone in driving value. In addition to those mentioned, KULR is working with Leidos LDOS, with them capita∙lizing on KULR's best-in-class battery safety technology. KULR's recycling partner, Heritage Battery Recycling, is also adding to the value proposition, providing immediate and open access to commercial partners and customers after securing United Parcel Service UPS shipping certification. That certification does two things. First, it allows for the shipment of batteries utilizing the KULR Safe Case products through UPS' vast shipping network. Second, it allows its U.S. Department of Transportation compliant "Safe Case" to be used as a safe and reusable shipping container for Li-Ion battery transportation up to 2.1KWh, an allowance providing KULR's major recycling partner a safe shipping container that can handle batteries above 300Wh. With bill∙ions of lithium-Ion batteries needing proper disposal, the oppor∙tunities in play are enormous. Everyone is chasing after the holy grail of battery safety, but KULR may have the safest efficient material on the market! KULR is working with some of the largest car companies in the electric vehicle (EV) revolution! The company has formed a partnership with Andretti Technologies (ATEC), is the official thermal management and battery safety provider to electric SUV extreme racing team Andretti United Extreme E, and is supplying products to the Drako GTE, one of the world’s fastest all-electric supercars! 8 Potential Breakout Catalysts That Could Send Shares of KULR Technology (KULR) Vertical! - KULR received staggering Analyst price target of $7.00 represents 1,742%. - KULR just released shattering news of revenue for the three months ended June 30, 2023, is estimated to be $2.5 to $2.8 Mln, an estimated increase of over 300%. - KULR has three Wall Street analysts predicting staggering upside potential. - NASA testing of KULR TRS battery heatsink is best-in-class. KULR was awarded contract in Mars 2020 Rover mission. - KULR partners with Lockheed Martin (LM-NR) to provide Thermal Management Solution. - Product development with world-class partners and start of business expansion with focus on E-mobility and Battery Safety Markets. - KULR Technology partnership with Leidos to supply NASA with Lithium-ion Battery Storage Solutions for the International Space Station ("ISS"). - KULR secured a battery safety contract with NASA to test its lithium-ion cells going into future battery packs designed for the Artemis Program, a series of United States-led international human spaceflight programs. - KULR secured additional United States Department of Defense (“DoD”) contracts, related to Pulsed Weaponry Projects. [Analyst Research Report $7.00 Target Found Here Secure Link]( I am urging all of our FDR members to add KULR to the top of your watch list right now! 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