KULR Technology Group, Inc. (NYSE American: KULR) announced a partnership with Robinson Helicopter Company to develop a battery system for the eR66 electric helicopter demonstrator. The collaboration will use KULR’s carbon‑fiber thermal management technology to create a lightweight, high‑performance battery solution tailored for Robinson’s electric rotorcraft platform.
The eR66 demonstrator is a key milestone in Robinson’s electrification strategy, following a prior partnership with magniX that targeted a first flight in 2026. KULR’s passive thermal management system is designed to maintain battery temperature without active cooling, reducing weight and improving energy density—critical metrics for electric helicopter viability.
KULR’s recent financial results show a 44% year‑over‑year increase in Q4 2024 revenue to $3.37 million, with a gross margin of 64% versus 29% the previous year. The company reported a net loss of $4.62 million for the quarter, a net margin of –133.46%. Full‑year 2024 revenue rose 9% to $10.74 million. Despite the loss, KULR maintains a strong balance sheet, with no debt and over $80 million in cash and Bitcoin holdings as of March 2025, and $20.6 million in cash and $120.5 million in Bitcoin by October 2025.
The partnership expands KULR’s presence in the electric aviation market and validates its technology in a demanding aerospace application. By securing a high‑profile contract with a leading helicopter manufacturer, KULR is shifting from a service‑oriented model to a product‑focused strategy that could drive future revenue growth and enhance its competitive positioning.
Robinson’s electrification roadmap includes a battery‑electric R66 demonstrator that will enable rapid organ and tissue transport with a reduced acoustic signature and zero‑emission profile, according to CEO David Smith. KULR’s battery systems have been qualified for NASA spaceflight, underscoring the robustness of its technology. The collaboration also complements KULR’s other agreements, such as a five‑year preferred battery supply deal with Caban Energy valued at approximately $30 million and a joint development partnership with Hylio, Inc. for agricultural drones.
Michael Mo, CEO of KULR, said, "Robinson Helicopter has built more civil helicopters than any manufacturer on Earth, and their commitment to reliability is exactly the standard KULR's battery architecture is designed to meet. KULR's battery systems have been qualified for NASA spaceflight." David Smith added, "The development of a battery electric R66 helicopter alongside KULR, represents an important shift in how we serve our global commercial and civil operators. By integrating electric propulsion, we aren't just reducing our environmental impact; we are unlocking critical new capabilities for life‑saving missions. For use cases like rapid organ and tissue transport, the reduced acoustic signature and zero‑emission profile ensure that time‑sensitive, low‑emission deliveries are faster, quieter, and more sustainable than ever before."
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