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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 7, 2023
| 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 |
(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
(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 7, 2023, KULR Technology Group, Inc. (the “Company”) issued a press release announcing that it has entered into an agreement to partner with a world leading provider of drone-powered package delivery services.
A copy of the above-mentioned 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 releases 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.
| Item 9.01 | Exhibits |
| Exhibit No. |
Description | |
| 99.1 | Press Release dated August 7, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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 7, 2023 | By: | /s/ Michael Mo |
| Michael Mo | ||
| President & Chief Executive Officer | ||
Exhibit 99.1
KULR Partners with World Leading Provider of
Drone-Powered Package
Delivery Services to Develop High-Capacity Lithium Battery Packs
SAN DIEGO / GLOBENEWSWIRE / August 07, 2023 / KULR Technology Group, Inc. (NYSE American: KULR) , a global leader in sustainable energy management, today announced it has signed an agreement to partner with a world leading provider of drone-powered package delivery services. Pursuant to the agreement, KULR will leverage its KULR ONE Design Solutions (“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. The KULR K1-DS is globally recognized for the safety and efficiency it brings to batteries and battery-powered products and equipment. It is used by some of the world’s most demanding aerospace and defense customers.
The global drone delivery services market is currently estimated at $2.1 billion and is expected to grow over 400% to $9.2 billion by 2027.
Although drones offer immense potential, their widespread adoption is hindered by safety risks associated with batteries and various technological challenges, particularly related to energy density and weight. The Company will support the customer in addressing these concerns with its cutting-edge K1-DS battery pack design and testing platform, which integrates inherently safe and lightweight battery designs featuring advanced chemistry and thermal management technology. This approach empowers drone makers to achieve extended flight ranges and longer flight durations on a single charge.
“Our state-of-the-art KULR ONE Design Solutions platform has enabled leading aerospace, electronics, and energy storage manufacturers to develop lighter, safer, and more thermally efficient products,” stated KULR CEO Michael Mo. “We are excited to collaborate with global e-commerce companies to increasingly disrupt the last-mile delivery market by incorporating our solutions for development of high-energy battery packs into smaller and lighter power sources for drone delivery applications.”
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.
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 March 28, 2023. 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
Media Relations:
Further PR
Email: press@furtherpr.com