Shoutout to u/skotww15 for the post this morning on the 10k packs/month ramp — good summary. Wanted to add some extra context around timing and what management has said previously about larger scale.

KULR signed the new Houston lease on May 12 for ~24,700 sq ft specifically for automated battery production lines (adding to their existing facility in Webster and manufacturing efforts in Plano per the Caban agreement). On the Q1 call, CEO Michael Mo said installation is planned for Q2 2026 with production start targeted for Q3 2026 at 10,000 packs per month, tied to programs including two major U.S. drone/UAS companies.

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KULR has historically reported Q2 results in mid-August. If that holds, the Q2 2026 earnings call will happen while the company is already roughly 6–7 weeks into Q3. While updates could come via press releases earlier, the Q2 call should give more structured commentary on installation progress and early production status.

Earlier CEO Comments on Much Larger Scale

In the Q3 2025 earnings call, Michael Mo laid out a bigger long-term view:

>“In 2026, we plan to grow our Texas headquarters to over 100,000 sq ft and scale production from a few thousand packs per month right now to more than 50,000 packs per month, supported by new automated battery production lines.”

He also said if demand accelerates, they’re ready to go to 100,000 packs per month and beyond.

Key Point

KULR is executing in phases. The Houston facility represents the next concrete step toward 10k packs/month while improving unit economics. At the same time, management has shown they have the roadmap to expand capacity significantly larger once demand supports it. The mid-August Q2 call will be one of the more detailed checkpoints on how that transition is progressing.

Link to the original post: https://www.reddit.com/r/KULR/comments/1tkiiqh/10k_packs_per_month_ramp/

Other Sources:

• Q1 2026 10-Q (Houston lease details): SEC Filing
• Q1 2026 Earnings Call & Transcript: kulr.ai
• Q3 2025 Earnings Call (50k–100k packs comments): kulr.ai
• KULR 5-year Preferred Battery Agreement Caban Energy; Expands U.S. Manufacturing Footprint: kulr.ai

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On March 29, 2026, Dr. Joanna Massey appeared on Season 2, Episode 2 of the podcast Inside CVC, titled “Inside CVC: Joanna Massey on Board Governance in a Digital Age: AI, Trust, and Mass Incitement.” The episode focused on how boards should approach governance, risk, and accountability in an era shaped by AI and digital platforms.

During the discussion, she made several pointed comments about corporate culture, leadership decision-making, cancel culture, and regulation. One month later, on April 28, 2026, KULR announced major board changes via Written Consent that removed her along with three other directors.

Here are some of the notable excerpts from the episode:

On cancel culture vs council culture:

>“We’ve gotten so sucked into cancel culture over council culture, which I prefer… Say something, it upsets me or it offends me. Let me tell you and express that in a nice way. I don’t have to be mean about it. And then, you know, we can get on with it or have an understanding.”

On CEOs making major decisions without the board:

When discussing whether companies should publicly take sides on social or political issues, she said:

>“I do not think it’s a decision that the CEO and officers should make on their own. I absolutely think it’s something that you have to consult the board for because if you do it and it goes sideways on you and the board didn’t know, then there’s a liability issue there.”

On the need for friction and productive disagreement:

>“In order for a corporation to grow, we have to innovate. And in order for us to innovate, you have to have friction because necessity is the mother of invention. And so you have to disagree. You’ve got to have diversity in the room. You have to have differences in order to innovate.”

>“It is urgent that companies figure out how to get employees back to a place where they can disagree productively, disagree without being disagreeable.”

On DEI language and diversity of thought:

>“I definitely think there’s fear around the acronyms DEI and ESG. Absolutely. And I’ve been telling people for several months now, don’t use them. Don’t, you know, phrase it differently.”

>“Whether we say diversity, difference, whatever word it is you want to use, there have to be different experiences in the room in order to drive growth.”

On free speech, corporate control, and expanded regulation:

She made clear that private companies have wide authority to restrict employee speech:

>“The First Amendment says that we have free speech against the government, not against private companies. A private company is absolutely allowed to tell its employees how to speak with each other, how to behave at work.”

At the same time, she argued for significantly expanding government regulatory power over speech on public platforms:

>“So why has the FCC never been expanded to cover cable and podcasts and social media? We can do it. We absolutely can do it.”

>“And then when it comes to Section 230… I think it’s time that we changed it… let’s create a different framework for how to manage what we’re dealing with in terms of all of this hate speech and anger that’s going around.”

In other words, while she criticizes “cancel culture” inside companies and calls for more “council culture,” she also supports giving regulators like the FCC greater authority and changing liability laws such as Section 230 in order to exert more control over speech on social media and digital platforms.

Timeline:

• March 29, 2026 – Podcast released
• April 28, 2026 – Board changes announced (removal of Joanna Massey and others)

Was she already sensing what was coming? Did these public remarks play any role in what followed? Or is the timing simply coincidental?

Season 2, Episode 2 of the podcast Inside CVC, titled “Inside CVC: Joanna Massey on Board Governance in a Digital Age: AI, Trust, and Mass Incitement.”

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I am a staunch investor in KULR residing in South Korea, and I currently hold 15,000 shares.

Do you happen to remember the news regarding the collaboration with LG Energy Solution that CEO Mo posted on X last November?

Since I live in South Korea, I am very well aware of the scale of LG Energy Solution and its tremendous standing in the industry, but shareholders in the U.S. might not be familiar with it.

What kind of company is LG Energy Solution?

It is a global battery specialist company spun off from LG Chem in South Korea. It is a mega-player that consistently competes for the top 1 or 2 spots in the global electric vehicle (EV) battery market, excluding the Chinese market, and maintains a market share of approximately 9.7% based on total global margins (ranking 3rd globally as of Q1 2026). Furthermore, it is the company that receives the most direct benefits from U.S. Income Tax Reductions (IRAs). It operates multiple joint venture (JV) factories in the U.S. with global automakers such as GM, Honda, and Hyundai Motor, and recently, it has strengthened its large-scale energy storage system (ESS) battery production network within the U.S., planning to secure a production capacity of over 50 GWh in North America alone by the end of this year.

It also possesses the mass production capability for the next-generation '46 Series' cylindrical batteries adopted by Tesla.

It is a massive enterprise representing the nation, having once ranked second in market capitalization on the KOSPI, where major South Korean conglomerates are listed, following Samsung Electronics.

What is the connection with KULR?

While everyone may remember the news from last November as the first link, the connection between LG Energy Solution and KULR dates back to 2023. The first collaboration occurred during the process of supplying LG Energy Solution's cylindrical lithium-ion batteries to NASA. As part of a contract for an advanced automated battery cell inspection system with NASA, 10,000 of LG Energy Solution's 18650 (18mm diameter, 65mm height) battery cells were verified.

(Source: https://www.theguru.co.kr/news/article.html?no=59324)

LG Energy Solution and the LG Group have long harbored a strong desire for the space business. In 2016, they were selected as a supplier of lithium-ion batteries for NASA's space exploration spacesuits. Additionally, news reports indicate that they met with key officials from the Korea Aerospace Agency (KASA) to discuss the space industry and LG's role and necessity from a "New Space" perspective. Undoubtedly, space-related business is one of the most important branches among LG Energy Solution's future growth engines, and cooperation with KULR, which maintains close ties with NASA, was likely an indispensable choice to serve as a bridgehead in the U.S. market.

(Source: https://platum.kr/archives/271000)

How is space battery development progressing?

Last year, CEO Mo shared a link to LG Energy Solution's official website newsroom in a post.

The content stated that LG Energy Solution is developing space-grade battery cells capable of operating in extreme environments with ultra-low temperatures of minus 60 degrees Celsius in collaboration with a company called South 8 Technologies, noting that this is part of the ‘Space Exploration Project’ being pursued by NASA and KULR.

Once these cells are developed, it is highly likely that they will be integrated with KULR's battery packaging technology, bearing the KULR ONE SPACE mark, and installed on various probes and rockets.

The following is an analysis of the progress since last year, conducted via Gemini.

The four-party coalition project involving LG Ensol, South 8, KULR, and NASA, announced last November, is currently proceeding quietly but very closely and concretely.

Due to the nature of the space and defense sectors, detailed progress updates following the contract signing do not frequently appear in real-time public news, so it may appear as if the news has ceased. However, by synthesizing South 8's fundraising, KULR's platform advancements, and the recent earnings announcement for May 2026, we can piece together the puzzle of how this project is taking shape.

The division of roles within this coalition and the tracked progress to date are as follows:

1. The Core Division of Roles within the Four-Party Coalition

The ultimate goal of this project is to develop next-generation space batteries capable of withstanding extreme temperatures below -60 degrees Celsius and high radiation during Lunar and Mars exploration missions. LG Energy Solution: Designs base lithium-ion cells specialized for the space environment and provides manufacturing guidelines.

South 8: Injects its core weapon, LiGas® (Liquid Gas Electrolyte) technology. While standard liquid electrolytes freeze and become inoperable at -20 degrees Celsius, this gas-based electrolyte operates normally even at -60 degrees Celsius; upon impact, the gas evaporates, effectively preventing battery fires (thermal runaway).

KULR: Packages these cells into its proprietary high-performance battery pack architecture, the 'KULR ONE Space' platform, enabling them to be mounted on spacecraft or rovers, and integrates a thermal management system.

NASA (Johnson Space Center): Responsible for final verification and space mission deployment testing.

2. Specific Tracking Status Updated Up to Recently

Clues indicating that this collaboration is on track are emerging from the recent activities of both South 8 and KULR. 💵 South8 Secures Additional Funding and Expands Production (December 2025 – April 2026)

Last December, immediately following the partnership announcement, South8 secured $11 million (approximately 15 billion KRW) in follow-on funding from a venture subsidiary of global materials company W.L. Gore (Gore-Tex manufacturer) and Lockheed Martin Ventures.

The core purpose of this investment was to "expand the production capacity of its San Diego plant for LiGas battery cells for space missions, in collaboration with LG Ensol, KULR, and NASA." In fact, South8 secured the capacity to finish cells for specialty customers this year (2026) and began supplying samples.

📈 KULR Begins Recognizing Grant Revenue (Latest Results as of May 2026)

The most definitive evidence is KULR's Q1 2026 earnings. Among the aforementioned non-product revenue, the $1.4 million in grant revenue recognized by the Texas Space Commission originated directly from this project (Cryogenic Battery R&D for Lunar/Mars Exploration). In other words, this means that the commitment to collaborative development with LG Ensol and South8 was not merely empty words, but that the receipt of government subsidies has begun to be recorded as actual revenue for KULR's R&D and platform integration work.

🚀 Serial Orders for the Battery Pack Platform (KULR ONE Space) (May 2026)

The KULR ONE Space platform itself, which serves as the vessel for South8's cryogenic cells, is gaining technical credibility in the market. Just a few days ago, in mid-May 2026, the space logistics company Argo Space Corp. officially signed a contract to adopt the KULR ONE Space battery system for its next-generation space missions. As the platform has passed NASA's rigorous safety standards, this demonstrates that the products of the collaboration with LG Ensol are being smoothly built upon this architecture.

💡 In summary:

Currently, this project is following a very normal trajectory, progressing through the stages of [LG Ensol's cell design ➔ South8's liquefied gas electrolyte injection ➔ KULR's pack integration and grant receipt].

Due to the nature of space and defense projects, cell testing and military/space qualification take at least 1 to 2 years. Therefore, major official news regarding the next phase is expected to materialize around the mid-to-late part of this year, when South8's line expansion is completed and initial test results from NASA's Johnson Space Center emerge.

The detailed timeline is predicted as follows:

🛠️ Phase 1: Prototype and Demonstration (As of 2026)

This is the current stage. This year marks the time when a prototype incorporating LG Ensol's cell design is released in conjunction with the completion of South8's San Diego factory expansion. KULR will then build this into a battery pack (KULR ONE Space) to undergo extreme environment testing at NASA's Johnson Space Center. 🚁 Phase 2: Entry into Special Defense and High-Altitude Drones (2027–2028)

Commercialization begins on the ground and in the air before being loaded onto spacecraft. Thanks to its characteristic of not freezing even at minus 60 degrees Celsius, it is scheduled to be first deployed in the markets for military equipment for extreme cold, Antarctic and Arctic exploration equipment, and high-altitude (10–20 km above sea level) reconnaissance drones. LG Ensol has also clearly defined its target for this period, stating, "We will create new customer value in extreme cold regions and high-altitude drones."

🚀 Phase 3: Full-Scale Aerospace and UAM Commercialization (2029–2030)

This is the period when it is fully deployed on the ultimate goals: lunar and Martian exploration rovers, spacecraft, and Urban Air Mobility (UAM). In fact, at 'InterBattery 2026' held this past March, LG Ensol officially set 2029–2030 as the target timeframe for the initial commercialization of its next-generation batteries (high-safety lines with high assembly and process compatibility).

💡 Conclusion from an Investor's Perspective

This project, driven by the synergy between LG Ensol's capital and design capabilities, South8's gas electrolyte technology, and KULR's pack packaging technology, has entered the "profit-making phase" (recognition of KULR's subsidy revenue) as of 2026.

However, it is most realistic to view mass commercialization spreading across the entire private market as starting from 2028–2029. Until then, "milestone news," such as passing NASA tests or securing surprise orders in the defense sector, will serve as the momentum to drive corporate value.

Is the collaboration with LG Energy Solution limited to space batteries?

From here on, it is in the realm of speculation. I strongly suspect that LG Energy Solution is KULR’s joint development partner for the next-generation KULR ONE MAX BBU for AI data centers. At InterBattery 2026 this year, LG Energy Solution already showcased battery solution technologies that support stable power supply for data centers by unveiling, for the first time in Korea, an LFP-based next-generation JP6 UPS rack system and a BBU (Battery Backup Unit) solution equipped with high-output cylindrical batteries as emergency power solutions for AI data centers. A business portfolio encompassing ESS, space, and AI infrastructure, extending beyond EVs, is the future LG Energy Solution has publicly declared.

Below is additional analysis based on Gemini.

It is highly likely that LG Energy Solution (hereinafter LG Ensol) is the joint development partner for the 'KULR ONE MAX BBU (Battery Backup Unit)' officially announced by KULR last December (December 17, 2025), and the industry considers it one of the leading candidates.

Although the partner company's name was unnamed in the 8-K filing at the time, a significant overlap is found when matching the key conditions presented by KULR with LG Ensol's recent activities and technological capabilities. We will explain the detailed grounds for this in four points.

1. A Perfect Match with 'Ultra-High-Power 21700 Cylindrical Cells'

In its filing, KULR explicitly stated that this BBU for data centers is designed based on a "new Ultra-High-Power 21700 cell platform." LG Ensol’s Strengths: LG Ensol is a top-tier manufacturer capable of producing high-output 21700 (21mm diameter, 70mm height) cylindrical batteries with the most stable and high-volume capabilities in the world. In particular, it possesses unrivaled technological prowess in the lineup of ultra-high-output 21700 cells (e.g., cells specialized for high-current discharge) supplied for high-performance power tools, electric bicycles, and aerospace applications. There are only a handful of companies worldwide with the capacity to supply the "ultra-high-output cells capable of withstanding the instantaneous high-current loads of AI servers" required by KULR, and LG Ensol stands at the forefront among them.

2. An Extension of the Already Established "Four-Party Alliance"

The strongest circumstantial evidence is that the two companies are already close partners.

Last November, news was officially announced that LG Ensol, South 8, KULR, and NASA were joining forces to develop batteries for space applications. This means that LG Ensol, a major conglomerate, has already thoroughly internally verified the technological capabilities (thermal management and NDA verification capabilities) of KULR, a small-cap tech stock with a small market capitalization.

Having built technical trust through joint R&D on space batteries, it is a very natural scenario for them to naturally expand the scope of cooperation (cross-industry expansion) into the AI ​​data center market (supporting Meta OCP ORV3 standards and NVIDIA architectures), which KULR is pursuing as a new business.

3. The Necessity of Local Production Capabilities in the U.S. (Made in USA)

The 'KULR ONE MAX BBU' project, led by KULR, aims to enter the AI ​​data center infrastructure of U.S. Big Tech (hyperscalers).

Requirement for Supply Chain Stability: Core power infrastructure for data centers in the U.S. prefers supply chains from allied nations and local U.S. sources free from geopolitical risks. LG Ensol has currently expanded its battery factory infrastructure in North America in the most aggressive forms, both exclusively and through joint ventures (JVs). LG Ensol is the optimal local North American partner capable of reliably fulfilling the "long-term supply guarantee throughout the program lifecycle following successful UL 9540 certification" mentioned in KULR's disclosure.

4. Program Scale of $100 Million (approx. 130 billion KRW)

KULR estimated the potential commercialization value of this BBU partnership at up to $100 million (Projected value of up to $100 million).

Startup-level battery manufacturers lack the capacity to supply high-quality premium cells of this scale in large quantities over the long term, and their control over unit prices is limited. The phrase in KULR's disclosure stating, "Through long-term supply contracts, we have secured predictable access to premium cells and are able to control production costs," suggests that the counterparty is a Global Leading Manufacturer with established economies of scale. ⚠️ Risk Assessment for a Balanced Perspective (Nuance)

While the technical and circumstantial conditions perfectly align with LG Ensol, the possibility that it could be **Molicel**, a subsidiary of Taiwan Cement Group (TCC) and another powerhouse in the high-output 21700 cell market, cannot be completely ruled out. This is because KULR has a history of screening and using Molicel's products in other lineups (such as KULR ONE Air).

However, considering the **'large-scale entry into AI data center infrastructure'** and the **'recent trend of partnerships solidified through NASA projects'**, it is true that there is significant weight given to the probability that the giant co-developing this MAX BBU is LG Energy Solution.

Is the market massively discounting the statements from the last two earnings call about not just installing capacity of 10k packs/month but having the orders to fill it?

At that run rate and an avg aerial battery program asp of $1k, $3k, or $5k that would result in $10M, $30M, or $50M revenue per month. I’m well aware mgmt has disappointed (essentially since the ipo) but this seems more certain given the lease extension and investment into a large production facility. Also mgmt has reiterated the capacity/active production agreements in the last two earnings calls. Not having the capacity or contracts would be a disaster.

Even at half the production rate and the lowest pricing tier product revenue be many multiples higher than now and high relative to current market cap. Am I missing something on this on the revenue side, ramp timing, or does anyone think the agreements aren’t real at all?

MarketDash: Factorial's Solid-State Batteries Are Going Global, One Drone at a Time

May 21, 2026  •  Posted 6 hours ago

>"The battery startup is teaming up with drone integrators across three continents as it moves closer to its SPAC merger."

Key Points

• Factorial Inc. announced partnerships with KULR Technology Group (KULR), Tulip Tech, and JRES to deploy its solid-state battery technology in commercial, industrial, and defense drones globally.
• The company is merging with SPAC Cartesian Growth Corporation III (CGCT) in a deal valued at about $1.5 billion, with a shareholder vote scheduled for May 27 and closing expected in June.
• Factorial's solid-state and lithium metal batteries promise higher energy density and power output without the trade-offs of traditional lithium-ion batteries, targeting longer flight ranges and extreme-temperature performance.

Factorial Inc., the solid-state battery developer that's merging with a SPAC, announced Thursday that it's partnering with three drone integrators to bring its next-generation battery technology to drones around the world. The partnerships span the U.S., Europe, and Asia-Pacific, targeting commercial, industrial, and defense drone systems.

The company is working with KULR Technology Group Inc. (KULR), Tulip Tech, and JRES to integrate its battery cells into unmanned aerial system (UAS) pack systems. Factorial says its solid-state and lithium metal technology delivers both high energy density and high power output, without the trade-offs that come with conventional lithium-ion batteries. That means longer-range flights, rapid takeoff capability, sustained thrust, and reliable performance across extreme temperatures.

In the U.S., KULR Technology will optimize Factorial's cells for demanding flight environments. KULR specializes in thermal management and battery safety systems. In the Netherlands, Tulip Tech has started developing battery packs for the first phase of European integration. And in South Korea, JRES is leading deployment efforts for commercial and industrial drones in the Asia-Pacific region.

The announcement follows demonstrations at the XPONENTIAL 2026 conference in Detroit, where KULR and Tulip showcased initial battery packs powered by Factorial cells.

Factorial said the expansion builds on strategic partnerships and investments involving IQT, POSCO Future M, and Philenergy. The company is scaling its battery technology across drone and robotics markets.

"As a U.S. leader in next generation batteries, we see firsthand how quickly the market is moving, and this global network reflects exactly that momentum," CEO Siyu Huang said. "Teams across three continents aren't just exploring our technology; they're deploying it."

Financial terms of the agreements were not disclosed.

SPAC Merger Progress

Factorial is also making progress on its planned merger with Cartesian Growth Corporation III (Cartesian Growth Corporation III (CGCT)). Last week, the SEC declared effective their merger registration statement, and a shareholder vote is scheduled for May 27. The companies expect to close the transaction in June at an implied combined valuation of about $1.5 billion. After the merger, the combined company will trade on Nasdaq under the symbols "FAC" and "FACWW."

Source: https://www.marketdash.com/stock-market-news/68803/factorials-solid-state-batteries-are-going-global-one-drone-at-a-time

For KULR investors following the Soluna Holdings (SLNH) partnership and the company’s data center battery efforts, here’s an updated recap that includes recent developments and how they may connect to KULR’s K1M platform.

Partnership Background

On October 9, 2025, KULR announced a 3.3 MW Bitcoin mining hosting agreement with Soluna at Project Sophie in Kentucky. In that release, Michael Mo stated: “This is only the beginning. As KULR expands beyond Bitcoin mining and migrates into Battery Backup Unit (‘BBU’) solutions, Soluna stands out as the ideal partner for future projects focused on sustainable, low-cost AI data center hosting powered by stranded renewable energy.”

Recent Developments from Soluna

In recent posts on X from SolunaHoldings and CEO John Belizaire, Soluna highlighted several updates:

• On May 20, they announced full equity ownership of the Dorothy 1 campus (including Dorothy 1B) following the acquisition of the Briscoe Wind Farm. They noted that development of the Dorothy 3 AI campus is now moving forward.
• In their Q1 2026 updates, Soluna reported 58% year-over-year revenue growth, four consecutive quarters of sequential growth, and an expanded pipeline now at 4.3 GW. They also highlighted continued progress on Kati 2, a planned 350 MW AI campus in Southeast Texas developed with their Metrobloks partnership.

These updates show Soluna advancing larger AI-focused data center projects while consolidating ownership of existing sites.

K1M Update from Q1 2026 Earnings Call

On the May 14, 2026 earnings call, management shared the following on the KULR ONE MAX (K1M) platform:

• Continued development of the 48-volt high-power PPR BBU platform targeting AI data center and telecom applications.
• Q1 technical progress included improvements in power conversion efficiency, custom distributed BMS development, and PPR testing on higher-energy 21700 cells.
• Attended the OCP EMEA Summit and engaged with major data center OEMs on licensing PPR and thermal management IP.
• Highlighted strong OEM interest driven by KULR’s technology edge in the large data center BBU market.

Certification Status

As of the Q1 2026 earnings call, KULR has not announced completion of UL 9540 or UL 9540A certification for KULR ONE MAX. Management has positioned 2026 as the year to advance certification work with cell providers and integration discussions with hyperscalers.

Potential Revenue Connection

Soluna does not refer to itself as a hyperscaler. It instead describes hyperscalers and neoclouds as target customers for its larger AI data center projects. On the Q1 2026 earnings call, Michael Mo discussed KULR’s engagement with data center OEMs and its focus on licensing PPR and thermal management technology for AI data center BBU applications. While there was no direct mention of Soluna during the call, both companies are operating within the broader industry shift toward AI infrastructure development. Soluna’s expanding AI campuses (such as Kati 2 and Dorothy 3) could represent one potential future deployment opportunity for KULR’s K1M platform if certification milestones are achieved and commercial interest aligns.

In April 2026, KULR added Ben Frank, a Microsoft director with experience in AI solution engineering within the Energy & Resources sector, to its Board of Directors. This addition brings relevant AI and energy infrastructure expertise as KULR advances its data center-focused battery platform.

This remains prospective and would depend on product readiness, certification progress, and further development of commercial relationships.

Discussion: If K1M moves through certification and Soluna continues scaling its AI projects like Kati 2 and Dorothy 3, it’s worth considering whether those sites could eventually become deployment opportunities for certified BBU systems and what kind of revenue contribution that could represent for KULR if it materializes.

Sources:

• KULR & Soluna Partnership Announcement (October 9, 2025)
• KULR Q1 2026 Earnings Call Transcript (May 14, 2026)
• KULR Board Appointment – Ben Frank (April 28, 2026)
• Soluna Q1 2026 Business Update & Dorothy 1B Acquisition (May 2026)
• KULR ONE MAX Joint Development Announcement (December 2025)

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US News Money published their list of “5 Best Cheap Stocks Under $5 Now” (May 19, 2026). The article focuses on companies that aren’t just cheap for a reason — they’re early-stage growth stories tied to big secular trends like AI infrastructure, defense, and next-gen energy.

The five tickers: INDI, VLN, CRNT, KULR, KOPN.

Here’s the direct excerpt from the article: KULR Technology Group (KULR)

>"KULR is a small-cap company trying to position itself at the intersection of several high-growth themes all at once: AI infrastructure, defense drones, battery safety and next-generation energy systems.

>The company develops thermal management and battery technologies designed for high-performance applications ranging from aerospace and defense programs to AI data centers and telecom infrastructure. It focuses on helping powerful lithium-ion battery systems operate more safely and reliably in environments where failure is not an option, like on the International Space Station and Mars Rover.

>NASA is a long-standing KULR partner, but the company's products are also used in more terrestrial applications. In January 2026, KULR announced a five-year battery supply agreement with Caban Energy expected to generate roughly $30 million in revenue tied to telecom and digital infrastructure applications. More recently, the company secured initial orders for military-focused drone battery systems from a U.S. defense company. KULR management says the opportunity could exceed $5 million in 2026.

>Yet there's no shortage of risk here. KULR remains a volatile small-cap stock and not consistently profitable despite strong sales growth over the past few years. Still, the company keeps finding ways to attach itself to fast-growing industries that appear to be attracting significant investment dollars, from defense technology to AI infrastructure. Sometimes that kind of positioning is enough to keep a speculative growth story moving forward."

Source: https://money.usnews.com/investing/articles/best-cheap-stocks-to-buy-now

HOUSTON / GLOBENEWSWIRE / May 18, 2026 / KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), an energy-systems platform company that enables the safe, certifiable deployment of ultra-high-power lithium battery systems for space and defense programs, mobility applications, hyperscale AI data centers, and telecom infrastructure OEMs, today announced that Argo Space Corp. (“Argo”), an orbital transportation and mobility company, has selected KULR as the battery provider for its forthcoming space mission. Under the agreement, KULR will supply its KULR ONE Space (K1S) battery systems, engineered to NASA safety standards, to power critical spacecraft subsystems throughout the mission’s operational lifetime.

“Building a new class of spacecraft to provide transport and maneuver meant designing it from the ground up. KULR had the best solution on the market for a battery that met our unique needs for performance, reliability, and cost. We’re excited to work with them on our first, our next, and our future spacecraft.” – Kirby Carlisle, Argo Chief Operating Officer.

The selection reflects KULR’s growing role as a trusted battery partner for the commercial space industry. The global space battery market is projected to grow to $5.61 billion by 2030, driven by surging demand for crewed and uncrewed deep space programs. Missions beyond LEO (low Earth orbit) impose uniquely severe requirements on energy storage: systems must sustain operation across extreme temperature cycling, prolonged vacuum exposure, and high-radiation environments.

“Being selected by Argo Space is an exciting milestone for KULR,” said Dr. Will Walker, Chief Technology Officer of KULR. “Our heritage at NASA and our decade of work developing battery systems that meet the most stringent space safety standards make KULR uniquely positioned to support missions where there is zero margin for error. This engagement validates the KULR ONE Space platform and opens a new frontier of opportunity as commercial space programs push beyond Earth orbit.”

The KULR ONE Space (K1S) battery system is built on KULR’s lightweight “REACH” battery architecture, which provides high energy density and low mass. K1S systems incorporate strategically selected cells with Initial Lot Assessment (ILA), Lot Acceptance Testing (LAT), and NASA WI-37A Cell Screening protocols.

“Space demands that every component perform flawlessly throughout the mission profile with no opportunity for servicing or replacement,” said Peter Hughes, Vice President of Engineering at KULR Technology Group. “Our team has spent years refining the K1S architecture specifically for these environments — integrating our thermal knowledge, NASA WI-37A screened cells, and comprehensive flight readiness testing in-house. This is exactly the program our KULR ONE Space platform was built for.”

This agreement builds on KULR’s demonstrated space heritage, which includes supplying battery systems that meet NASA safety requirements for Artemis’ crewed spaceflight, an active rideshare mission flight demonstration with Exolaunch aboard a SpaceX launch vehicle, and ongoing supply relationships with multiple commercial space operators. KULR’s Webster, Texas manufacturing and R&D facility will support production and qualification testing for the Argo battery systems.

About KULR Technology Group, Inc.

KULR Technology Group, Inc. (NYSE American: KULR) is an energy-systems platform company delivering certifiable battery safety, vibration-mitigation, and thermal control solutions that enable ultra-high-power lithium-ion systems and sensitive electronics to operate reliably across space and defense missions, mobility applications, hyperscale AI data centers, and telecom infrastructure OEMs. Learn more at KULR.ai.

Source: https://kulr.ai/company/news/?e-filter-225e8be-category=announcements#filter-section

Two major validations for KULR in a single week.

First argo space picked them as battery provider. Now NASA just named KULR and NLR the 2025 Invention of the Year for the Internal Short-Circuit Device (ISC-D) that powered Artemis II.

A few things to sit with:

1. ISC-D is the technology that lets engineers safely test battery failure inside lithium-ion cells before they happen in real missions. NASA calls it the gold standard for manned spaceflight battery testing.
2. KULR now ships full battery cells with ISC-D pre-embedded. Not just the device. The product.
3. The customer list reads like a who's who. $SPCX SpaceX . $TSLA . $TM . $VWA.NE . 80+ companies in total are using KULR 's tech to test their batteries.
4. NASA used these cells to validate every battery on Artemis II. The same Artemis II that just completed the first crewed lunar flyby in over 50 years.

This is not a press release win. When NASA points to your invention as the year's best and your customer list is already SpaceX , $TSLA , $TM , and $VWA.NE , the moat keeps widening.

Battery safety is shifting from a checkbox to a regulatory requirement across EVs, drones, data centers, and space. KULR sits in the middle of all of that.

The market still treats this as a small-cap battery name. The platform underneath is starting to look like infrastructure.

It's not a sprint, it's a marathon.

* The source of this article is X's "Patient Investor" account.

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I don't think the market is truly factoring in how crucial this appointment was for this budding AI/Drone/Energy management company. And the reason I lead with AI first is because this appointment in my belief is the key to this companies re-rating and fullest potential of it's market capitalization. In the world of Big Tech, executives don’t just wander onto the boards of micro-caps for a small paycheck. They do it because of strategic alignment.

​When you connect the dots between this appointment, KULR's position in the Open Compute Project, and their explosive Q1 2026 earnings report from just days ago, a clear picture emerges: KULR is positioning itself to be a definitive, mandatory player in the massive AI infrastructure buildout. Here is the full structural thesis on why the market isn't nearly bullish enough.

​1. The "Microsoft" Hint: Azure Data Centers & KULR ONE MAX

​Ben Frank doesn’t just work at Microsoft; he specifically leads AI deployment for Microsoft's energy clients. Right now, Microsoft is building out AI data centers at a record pace, and those centers are hitting a massive structural bottleneck: power delivery and thermal management.

​KULR’s core value proposition has shifted heavily toward safe, certifiable deployment for hyperscale AI data centers. Having Frank on the board means KULR is tailoring its KULR ONE MAX (their high-capacity battery backup unit) to meet the exact, brutal specifications that Microsoft and its peers require.

​In the market's eyes, this isn't just a clever hire—it's a potential bridge to a future Master Supply Agreement (MSA) where KULR’s thermal management becomes the mandatory standard for Microsoft Azure's global data center footprint.

​2. The Architectural Paradigm Shift: Inside the NVIDIA & Meta AI Rack

​To understand why Frank's appointment matters right now, you have to look at how AI data centers are changing. Under the new industry roadmaps, hardware architecture is undergoes a massive shift.

​Historically, backup batteries sat far away in centralized UPS (Uninterruptible Power Supply) rooms. The Open Compute Project's ORV3 (Open Rack V3) standard changes the game entirely: it moves energy storage out of the UPS rooms and directly into the AI server rack itself.

​We are talking about high-voltage 800V battery backup units (BBUs) operating inches away from multimillion-dollar NVIDIA GPU clusters and Meta infrastructure. If a battery experiences thermal runaway here, it doesn't just destroy a battery pack—it melts down an entire AI cluster. This architectural shift turns the BBU into a safety-critical, high-stakes thermal problem. It is exactly the type of mission-critical environment that KULR’s space-grade, NASA-heritage technology was built to protect.

​3. OCP Platinum Membership: "Writing the Rules"

​KULR isn't just a passive bystander trying to sell into this shift; they are an OCP Platinum Member.

​The Open Compute Project is the exact governing body where the titans of tech (Meta, Google, Microsoft, NVIDIA) decide on the hardware standards for the next decade. With a literal "seat at the table," KULR isn't following the rules—they are helping write the ORV3 specifications.

​By directly influencing the safety and thermal standards for 800V rack power, KULR is ensuring that the upcoming "industry standard" for AI safety looks an awful lot like KULR’s own proprietary technology. This creates an incredible "lock-in" effect where future competitors will have to play catch-up to designs KULR has already certified and baked into the regulations.

​4. The Mechanics: The "Validation" and "Bridge" Phases

​How does this board appointment translate to revenue? It happens systematically through two distinct phases:

• ​The "Validation" Phase (Looking Under the Hood): A hyperscale cloud player like Microsoft doesn’t sign an enterprise-wide MSA with a micro-cap on a whim. While formal talks might not be public or active yet, having Frank on the board allows Microsoft to effectively "look under the hood" of KULR’s tech, ensuring its viability and scale readiness for future deep integration.

• ​The "Bridge" Phase (The Translator): Frank acts as a direct translator between the two corporate cultures. He knows exactly what Microsoft’s procurement and engineering teams are looking for regarding battery safety, allowing KULR to build products that are completely "Microsoft-ready" before they ever even hit a formal negotiation table.

​5. Financial Proof: Q1 2026 Earnings Confirm the "Commercial Discipline"

​Historically, the bear case on KULR was that it behaved like a low-margin research lab that couldn't commercialize its tech. Ben Frank's background is in pre-sales engineering, meaning his entire focus is on solutions that actually sell. This introduces the exact commercial discipline KULR needs to scale.

​If you want proof that this discipline is already taking hold, look at the Q1 2026 earnings reported on May 14, 2026:

​Revenue nearly doubled, surging 98% year-over-year to $4.85 million.

​Gross margins exploded to 29% compared to just 8% in the same period last year, proving they are moving rapidly into higher-margin commercial energy systems.

​Operating expenses dropped sharply, with SG&A down 9% and R&D down 28%, narrowing core operating losses by 22%.

​Note for anyone looking at the headline numbers: The reported net loss widened purely due to a $20.77 million non-cash, mark-to-market paper loss on their Bitcoin treasury holdings. The actual core operating business is experiencing a massive fundamental inflection, backed by a strong cash position of $19.0 million as of mid-May.

​6. Pitching "Safety" as Core Business Value

​Because KULR’s entire value proposition is safety and risk mitigation, Frank knows exactly how to pitch "safety" not just as a technical specification, but as an essential business value. He has the vocabulary and the network to pitch directly to the CEOs of utility companies and data center operators who are terrified of the catastrophic legal, financial, and operational liabilities of a data center fire.

​7. The Valuation Endgame: The Tech Multiplier Re-Rating

​This is where the asymmetric upside sits. Right now, KULR is valued like a micro-cap hardware component manufacturer.

​However, if KULR successfully secures an MSA to provide rack-level battery backup for a major cloud provider or hyperscaler, the entire valuation model changes. The market would transition from viewing it as a standard manufacturing company to an essential, irreplaceable AI infrastructure gatekeeper. This would trigger a massive re-rating, assigning KULR a software-style multiple (20x–40x revenue) rather than a depressed manufacturing multiple.

Thus far ​the market is pricing KULR like a penny stock struggling to sell hardware, distracted by non-cash Bitcoin volatility on the balance sheet.

​The reality? They have a Platinum seat at the OCP table helping write the safety rules for the next generation of 800V AI racks alongside NVIDIA and Meta. Their Q1 2026 earnings just proved their revenue is doubling while margins are expanding to 29%. To top it off, they just put a Microsoft AI energy director on their board to ensure their high-capacity backup tech is perfectly engineered for Azure's procurement team.

​The bridge to hyperscale validation is being built right in front of us, and the market is completely sleeping on it!

Full disclosure, this was thread was helped formulated from conversations i had using AI. Not financial advice, please do your own research!

NASA recently awarded NLR researchers and industry partner KULR Technology Group the 2025 Invention of the Year for an innovation that enables scientists to implant an internal short-circuit device (ISC-D) into lithium-ion cells, triggering battery failure that improves battery testing for space-bound systems.

.....

the ISC-D is now used by more than 80 companies, including SpaceX, Tesla, Toyota, and Volkswagen, to test the batteries powering commercial aircraft, satellites, and vehicles.

https://www.nlr.gov/news/detail/features/2026/nlr-battery-innovation-awarded-nasa-invention-of-the-year?hl=ko-KR

This is a follow-up to the previous post on the potential KULR manufacturing facility.

The Ellington Trade Center at 12554 Highway 3, Webster, TX 77598 sits directly across from Ellington Field runway. This location has several notable connections worth highlighting:

Military aviation presence
Ellington Field Joint Reserve Base, which is part of Ellington Field, is home to the Texas Air National Guard 147th Attack Wing and the 111th Attack Squadron, which operates MQ-9 Reaper drones for intelligence, surveillance, and strike missions. The base also supports additional military aviation units from multiple branches.

NASA facility development
NASA has completed its environmental review for a new 52,000 sq ft Aviation Logistics and Operations Facility at Ellington Field. After determining the project would not have significant environmental impacts, NASA has cleared the way for construction to proceed. This facility will support JSC operations, including T-38 astronaut training flights and cargo logistics.

Houston Spaceport and major tenants
The Houston Spaceport is located at Ellington Field. Current anchor tenants include Axiom Space, Intuitive Machines, and Collins Aerospace, with Phase 2 development underway. Axiom Space previously operated out of Suite 100 at 555 Forge River Road — the same building that now houses KULR’s headquarters — before transitioning to its new campus at the Spaceport.

Aviation training expansion
Texas Southern University opened a new aviation training hangar at Ellington in April 2026, adding to the growing aerospace education and workforce development in the area.

Whether this specific address is the exact location referenced in KULR’s lease remains speculation based on public filings and property listings.

Sources:
Ellington Trade Center property listing
NASA Ellington Field ALOF Environmental Assessment (June 2025, FONSI issued)
Houston Spaceport official updates
147th Attack Wing information

12554 Highway 3, Webster, TX 77598

KULR’s Q1 2026 earnings call mentioned signing a new lease for additional 25,000 square feet of manufacturing space to support battery production scaling.

The more precise details appear in their recently filed 10-Q, which states the company executed a 3-year lease on May 12, 2026 for a facility of approximately 24,700 rentable square feet in Houston, Texas.

https://preview.redd.it/np5vafkfad1h1.png?width=954&format=png&auto=webp&s=1341d0c33834e04ff25a5782493be177b062d63e

Key points from the filings:

• Earnings call described it as ~25K sq ft of new manufacturing space
• 10-Q confirms 24,700 sq ft, roughly $30K monthly rent
• New space is for automated battery production lines (installation in Q2, production start in Q3 2026)
• Target capacity: 10,000 battery packs per month

KULR’s existing headquarters is located at 555 Forge River Road, Webster, Texas.

After reviewing recent industrial listings for spaces matching the exact size in the Webster/Clear Lake area, the strongest match is:

Ellington Trade Center

12554 Highway 3, Webster, TX 77598

This property has a 24,700 SF industrial space listed. It’s roughly 4–5 miles (about an 8–10 minute drive) from KULR’s current headquarters.

Why this location looks promising:

• Same city as existing HQ → easier operational integration
• Good industrial specs (24 ft clear height, dock loading)
• Close to Ellington Field with solid access to I-45 and Beltway 8
• Located in the Webster/Clear Lake aerospace corridor near NASA

Sources:

• KULR Q1 2026 Earnings Call
• KULR Q1 2026 10-Q Filing (SEC)
• 12554 Highway 3 Webster, TX 77598 - Industrial For Rent | 24,700 SF

This is pure speculation based on public listings, but it lines up pretty well.

https://preview.redd.it/18lwtjk5bd1h1.png?width=1118&format=png&auto=webp&s=6b27e05e86564d181118e6821e3cb3405dca9a5e