KULR Technology CEO issues shareholder letter outlining battery strategy

KULR Technology Group, Inc. (NYSE American: KULR) published a shareholder letter from Chairman and Chief Executive Officer Michael Mo, outlining the company's strategic direction and first-quarter financial results.

Mo said first-quarter revenue nearly doubled year-over-year, with product sales growing and gross margin expanding, while operating expenses declined. He said the company's 2026 priorities are product revenue growth, gross margin improvement, and cost discipline.

The letter describes KULR's KULR ONE battery platform as targeting five end markets: space and defense autonomous systems, the drone and unmanned aerial systems sector, AI data center backup power, an energy-as-a-service model for critical infrastructure, and robotics. Mo said the company is engaged with two humanoid robotics customers and is establishing operations in Japan.

Mo said the company recently won a prototype contract for a U.S. defense drone program, with manufacturing scaling toward thousands of battery packs per month. He also said KULR is licensing thermal and safety intellectual property to data center original equipment manufacturers and holds a seat in a consortium defining next-generation data center power standards.

The letter references third-party market projections, including McKinsey & Company's estimate of the general-purpose robotics market reaching roughly $370 billion by 2040, Bank of America Global Research's projection of the low-altitude economy reaching roughly $210 billion by 2045, and a MarketsandMarkets estimate of the AI inference market reaching roughly $255 billion by 2030.

Mo said the company is expanding its Texas manufacturing facility with additional production lines and plans to introduce an in-house-designed battery charger in 2026. The letter is available on KULR's investor relations page.

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