KULR Technology Group, Inc. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Business Highlights
  • Entered the Metaverse hardware market by shipping carbon fiber sensing solutions to a major OEM for neural signal detection in virtual environments.
  • Secured battery safety testing contract with NASA for the Artemis moon mission; capacity to process up to 10,000 lithium-ion cells per week for NASA and DoD projects.
  • Awarded three new Department of Defense contracts related to electromagnetic pulse weaponry and power management systems.
  • Appointed Dr. William Walker as Director of Engineering to bolster R&D in thermal management and battery safety systems.
  • Launched Safe Case product rated for maritime lithium-ion battery storage, compliant with new U.S. Coast Guard safety regulations.
  • Prototype solid-state electrolyte (LLCO) battery developed in-house, expected to be commercially available in the second half of 2022.
  • Announced $55 million in financing to secure 500MWh battery cell inventory and onshore manufacturing capabilities to support anticipated demand in energy storage and e-mobility markets.
Operations Update
  • Onshore production strategy in motion to mitigate geopolitical and logistic risks, improve lead times, and maintain margins.
  • Automated battery cell testing platform to be fully qualified in Q3 and enter full production by Q4; objective is to support NASA and future clients.

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Operator: Alright, everybody. Thank you for holding on the line as you just heard. Welcome to the KULR Technology Group First Quarter 2022 Earnings Call. Now, on the call with me today are KULR’s CEO, Michael Mo, as well as President and COO of KULR and that’s Keith Cochran. And finally, from the company will be joined by Chief Financial Officer, Simon Westbrook. We will also be joined for a Q&A session by Theodore O’Neill at Litchfield Hills Research; and Juan Noble at Taglich Brothers. Before we start the call, though, I want to read the Safe Harbor statements found at the bottom of every company press release and regulatory filings. Statements made on this call do not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This call may contain certain forward-looking statements based on KULR’s current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements made on this call are based on information available to the company as of the date hereof. KULR’s actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with their business, which include risk factors disclosed in the company’s Form 10-K filed with the Securities and Exchange Commission on March 28, 2022. Forward-looking statements include statements regarding the company’s expectations, beliefs, intentions or strategies regarding the future and can

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