KULR Secures Prototype Battery Development Contract with U.S.-Based Military Drone Manufacturer

^{Agreement Advances Domestic Drone Production and the Pentagon’s Drone Dominance Initiative}

HOUSTON, June 02, 2026 (GLOBE NEWSWIRE) -- 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 it entered into a prototype development and fabrication agreement with a U.S.-based defense drone manufacturer supporting military and commercial unmanned systems applications to design, develop, test, and deliver prototype lithium-ion battery packs for unmanned aerial vehicles (“UAVs”) and handheld controllers.

Under the agreement, KULR will execute system-level design, battery architecture development, prototype fabrication, functional and safety testing, certification support, and production-readiness activities for the customer’s UAV and ground control station platforms. Defense and aerospace battery programs typically progress through multi-quarter design, qualification, and production-readiness cycles before generating volume production revenue. Each design-in — including this prototype agreement — establishes KULR as the qualified battery source for the customer’s platform, creating the foundation for long-term revenue as the platform reaches deployment. KULR’s expanding pipeline of prototype and qualification programs across defense, drone, and mobility customers reflects the leading-indicator value of these engagements.

“KULR sits at the intersection of two of the fastest-growing categories in defense: domestic drone production and the advanced battery systems that power it,” said Michael Mo, Chief Executive Officer of KULR Technology Group. “This agreement puts KULR engineering directly inside a U.S. drone manufacturer’s UAV and ground control programs, with full responsibility for design, certification, and production readiness. As the U.S. accelerates toward fielding hundreds of thousands of drones, KULR’s role as a domestic, safety-certified battery partner becomes more central — and more valuable — to the programs that matter most.”

Last week, The Wall Street Journal reported that the Trump administration is pursuing funding arrangements with drone manufacturers, potentially including equity stakes, to accelerate domestic production and reduce costs. The initiative aligns with the Pentagon’s $1.1 billion Drone Dominance program, which aims to field 300,000 low-cost attack drones by the end of 2027.

In April, the Pentagon requested $75 billion for drones and counter-drone systems, marking one of the largest year-over-year funding increases across any defense category in the Trump Administration’s proposed $1.5 trillion defense budget. The scale of the request confirms drones as a top national defense priority, creating a powerful demand backdrop for U.S.-based drone supply chains and the advanced battery systems that enable them.

The global drone battery market is projected to grow at a CAGR of 17.65% from 2026 through 2035, reaching approximately $45.64 billion by 2035, driven by increasing demand for unmanned aerial systems across defense, commercial, industrial, and logistics applications.

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.

Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulr.ai

Safe Harbor Statement
This release contains certain forward-looking statements based on our current expectations, intentions and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All such forward-looking statements that are provided by management in this release are based on information available at this time, and management expects that internal expectations may change over time. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/9618d4d4-67b8-4026-a539-4b36d21b727b

NYSE: KULR Advances Domestic Drone Production and the Pentagon’s Drone Dominance Initiative

KULR to deliver prototype lithium-ion battery packs for unmanned aerial vehicles (“UAVs”) and handheld controllers.

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