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KULR cooler lighter ⚫ safer KULR Technology Group Inc. Reports First - Quarter Results and Announces Shareholder Update Call SAN DIEGO / ACCESSWIRE / May 21 , 2021 / KULR Technology Group , Inc. ( OTCQB : KULR ) ( the " Company " or " KULR " ) , a leading developer of next - generation lithium - ion battery safety and thermal management technologies , today announced its financial results for the first quarter ended March 31 , 2021 . KULR's Q1 revenue increased by 439 % year - over - year as we continue to make significant investments in all areas of our business to sustain and expand in 2021 and beyond . We are pleased to announce the Company recently raised $ 6.5 million in capital on May 20 , 2021. Our belief is that this investment validates the value our new investors see in KULR's ability to commercialize within additional e - mobility markets . This funding is expected to significantly strengthen the Company's balance sheet and further advance KULR's up listing process to a senior U.S. exchange . KULR's business model continues to evolve as the Company focuses on near - term commercialization opportunities for its technology in the energy storage , electrical transportation , and battery transportation markets . We recently announced our first new smart battery product for the commercial drone market . This is the opening step of KULR's overall strategy to target adjacent markets complementary to our established battery safety and thermal management products to expand into additional e - mobility markets in 2021. Additionally , we have targeted using our carbon fiber technology inside battery cells to make lighter and safer batteries with fast charge capability . First Quarter 2021 and Recent Operational Highlights In April 2021 , KULR announced the June 2021 launch of a new product line of high - capacity lithium battery packs targeting the $ 127 billion commercial drone market , according to PricewaterhouseCoopers . The Company recently secured a global commercial drone manufacturer as a customer and expects to secure additional customers in the second half of 2021 . In March 2021 , Keith Cochran joined KULR as President and COO . Mr. Cochran was previously SVP of Global Business Unit at Jabil where he was responsible for the $ 3.7B smartphone business and managing over 65,000 employees in US and Asia . Keith brings over 25 years of experience in business operations , supply chain management and large - scale manufacturing automations .