From GlobeNewswire: 2024-04-12 16:15:00

KULR Technology Group, Inc. announced a significant increase in full-year 2023 revenue, up 146% from 2022, totaling $9,830,166. The growth was attributed to success in energy storage and battery sectors. The Company also reported increased SG&A and R&D expenses, resulting in a net loss of $23,693,556 for 2023. Cash balances as of December 31, 2023 were $1,194,764 compared to $10,333,563 in 2022.

KULR Technology Group, Inc. has recently secured several contracts with notable industry leaders, such as H55 Inc., Nanoracks, Lockheed Martin, and a leading U.S. automaker, for various projects related to energy management and battery safety. The Company’s innovative solutions have attracted attention in the space exploration, aerospace, automotive, and technology sectors, highlighting its commitment to safety and innovation.

Furthermore, KULR Technology Group, Inc. has received new special permits from the United States Department of Transportation for its SafeX product suite, allowing for safer transportation and disposal of damaged, defective, or end-of-life batteries. These permits are expected to open up new opportunities for the Company in various industries, contributing to its growth and sustainability efforts.

For more information or to participate in the conference call discussing these results, visit KULR Technology Group, Inc.’s website or contact Investor Relations at 858-866-8478 x 847. The Company continues to focus on developing and delivering advanced energy management solutions to meet the evolving needs of its customers across different industries, aiming to drive growth and innovation in the ever-changing market landscape.



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