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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 20, 2024
KULR TECHNOLOGY GROUP, INC.
(Exact name of the registrant as specified in its charter)
| Delaware |
|
001-40454 |
|
81-1004273 |
(State or other jurisdiction of
incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
4863 Shawline Street, San Diego, California 92111
(Address of principle executive offices) (Zip code)
Registrant’s telephone number, including area code: (408) 663-5247
Not Applicable
(Former name or address if changed since last
report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ¨ |
Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ¨ |
Pre-commencement communications pursuant to Rule 14D-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: |
|
Trading Symbol(s) |
|
Name of each exchange on
which
registered: |
Common Stock
|
|
KULR |
|
NYSE American LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 7.01 |
Regulation FD Disclosure |
On August 20, 2024, KULR Technology Group, Inc. (the “Company”
or “KULR”) issued a press release announcing it has been selected for a battery pack reference design project by Amprius Technologies,
Inc. (NYSE: AMPX).
A copy of the press release
is attached herewith as Exhibit 99.1.
By filing this Current Report
on Form 8-K and furnishing the information contained herein, the Company makes no admission as to the materiality of any information in
this report that is required to be disclosed solely by reason of Regulation FD. The Company uses, and will continue to use, its website,
press releases, and various social media channels, including its Twitter account (twitter.com/kulrtech), its LinkedIn account (linkedin.com/company/kulr-technology-corporation),
its Facebook account (facebook.com/KULRTechnology), its TikTok account (tiktok.com/Kulr_tech), its Instagram account (instagram.com/Kulr_tech),
and its YouTube account (youtube.com/channel/UC3wZBPINQd51N6p35Mo5uQg), as additional means of disclosing public information to
investors, the media and others interested in the Company. It is possible that certain information that the Company posts on its website,
disseminated in press releases and on social media could be deemed to be material information, and the Company encourages investors, the
media and others interested in the Company to review the business and financial information that the Company posts on its website, disseminates
in press releass and on the social media channels identified above, as such information could be deemed to be material information.
The information in this Item
7.01 disclosure, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section.
In addition, the information in this Item 7.01 disclosure, including Exhibits 99.1, shall not be incorporated by reference into the filings
of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference
in such filing.
Exhibit
No. |
|
Description |
| 99.1 |
|
Press Release dated August 20, 2024 |
| 104 |
|
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SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto
duly authorized.
| |
KULR TECHNOLOGY GROUP, INC. |
| |
|
| Date: August 20, 2024 |
By: |
/s/ Michael Mo |
| |
|
Michael Mo |
| |
|
Chief Executive Officer |
Exhibit 99.1
KULR
Partners with Amprius Technologies to Develop Reference Design to Enhance Battery Safety and Performance in Advanced Air Mobility
SAN
DIEGO August 20, 2024 / KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”),
a global leader in safe and high-performance energy storage solutions, today announced it has been selected for a pivotal battery pack
reference design project by Amprius Technologies (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon
Anode Platform. The final reference design will provide Amprius’ customers with a solution to address thermal runaway at the battery
pack level that leverages KULR’s advanced energy management platform, KULR ONE Design Solutions, with Amprius’ high-energy
Silicon Anode pouch cells to meet the rigorous thermal qualification standards set by the Federal Aviation Administration (FAA) and European
Union Aviation Safety Agency (EASA), ensuring the highest levels of safety and performance. This partnership is set to push the boundaries
of next-generation battery technology, with a focus on the burgeoning advanced air mobility (AAM) market.
The
integration of all lithium-ion battery technology into Advanced Air Mobility (AAM) presents significant challenges, particularly due
to the risks of cell thermal runaway. To address these concerns, the FAA and EASA have established stringent design regulations to mitigate
the risks associated with using lithium-ion battery packs in electric manned applications. The partnership between Amprius and KULR is
designed to meet these strict safety standards and accelerate the adoption of Amprius’ high-performance cells in the AAM sector,
where their technology is uniquely positioned to excel.
Driving
Innovation in Battery Technology
The joint effort
will explore innovative methods to enhance battery safety and maximize energy density at the pack level. By integrating KULR’s
advanced thermal management solutions with Amprius’ high-energy and high-power lithium-ion batteries and cutting-edge silicon anode
technology, the partnership aims to deliver a battery system that is not only safe but also exceptionally high-performance.
“KULR’s
proven expertise in thermal management and energy storage solutions makes them an ideal partner for this project,” said Jon Bornstein,
President of Amprius Technologies Lab. “By combining Amprius’ advanced silicon anode battery technology with KULR’s innovative
approach to safety and performance, we are setting a new standard in the advanced air mobility segment. This partnership accelerates
our ability to meet the stringent requirements of the electric aviation industry while simultaneously pushing forward the evolution of
battery technology with a focus on safety, efficiency, and market expansion."
A
Comprehensive Approach to Design and Testing
The
project will be executed in four phases, beginning with extensive data collection and design concept delivery. Subsequent phases will
include detailed thermal modeling, propagation prevention response (PPR) design, and rigorous testing to ensure compliance with the highest
safety standards. This systematic approach will enable the development of a robust and scalable battery solution tailored to the needs
of various applications within the e-aviation sector and beyond.
A
Commitment to Market Expansion
This collaboration
underscores KULR and Amprius' commitment to expanding into growing markets by providing innovative solutions that address the critical
needs of safety and performance in energy-dense battery systems.
The
partnership is poised to play a pivotal role in the evolution of battery technology, particularly in the electric aviation market, where
the demand for lightweight, high-performance energy storage solutions is rapidly increasing.
Precision
Business Insights estimates the global electric aircraft market to reach USD $13.55 billion by 2030, growing at a CAGR of 7.62%
during the forecast period of 2024 to 2030.
About
KULR Technology Group, Inc.
KULR
Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical
role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing
next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite
of products and services to enable its customers across disciplines to operate with efficiency and sustainability in mind. For more information,
please visit www.kulrtechnology.com.
About
Amprius Technologies, Inc.
Amprius
Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries, producing the industry’s highest-known
energy density cells. The company’s commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with
third-party validation of 500Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024,
significantly enhancing its ability to serve additional customer applications. The company’s corporate headquarters is in Fremont,
California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells.
To serve customer demand, Amprius entered into several agreements to secure over 500MWh of contract manufacturing available today and
entered into a lease agreement for a GWh scale facility in Brighton, Colorado. For additional information, please visit amprius.com.
Also, see the company’s LinkedIn and Twitter pages.
Safe
Harbor Statement
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release
contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties.
Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ
materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business,
which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on April 12, 2024, as may
be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements
include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking
words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “should,” and “would” or similar words. All forecasts are provided by management in this release
are based on information available at this time and management expects that internal projections and expectations may change over time.
In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts,
current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation
to update the information included in this press release, whether as a result of new information, future events or otherwise.
Investor
Relations:
KULR
Technology Group, Inc.
Phone:
858-866-8478 x 847
Email:
ir@kulrtechnology.com
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KULR Technology (AMEX:KULR)
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