New Board Appointments#
KULR Technology Group, based in Houston, has announced the immediate appointment of two new directors to its board. Ben Frank, a director at Microsoft, and Mike Kimel, a pricing and profitability consultant, will join the board to help guide the company's future.
Background of New Directors#
Ben Frank is currently the Director of Workforce AI Solution Engineering at Microsoft, where he leads teams that support enterprise customers in deploying artificial intelligence (AI) platforms. He holds a Bachelor’s degree in Mechanical Engineering from the University of California, Santa Barbara.
Mike Kimel is the founder and CEO of Pricimetrics, a firm specializing in pricing and analytics. He has held senior roles in pricing and analytics at companies like OmniSource and Toyo Tires, and he earned a Ph.D. in Economics from the University of California, Los Angeles.
Board Restructuring and Cost-Cutting Measures#
These appointments come as KULR streamlines its board to three members, including two independent directors. This restructuring aims to reduce selling, general, and administrative expenses in 2026. KULR is currently facing profitability challenges, with a negative gross profit margin of -8.4% over the past year. Despite a revenue increase of 50.6%, the company remains unprofitable with an earnings per share (EPS) of -$1.56.
Future Plans and Collaborations#
KULR is also appointing a special advisor to implement a framework focused on pricing discipline and cost controls. The advisor holds both CFA and CPA certifications and has experience in financial planning across various sectors.
In addition to these changes, KULR is pursuing collaborations to advance battery technology. They are working with Robinson Helicopter Company to develop a battery system for an electric helicopter and have partnered with Hylio, Inc. to create battery systems for agricultural drones. KULR specializes in battery safety and thermal control solutions for lithium-ion systems used in various industries.