KULR Technology Group has appointed Dr. Mike Kimel as its new CFO. He replaces Shawn Canter, who left the company last month.

KULR is based in Webster, TX and has a market capitalization of $172 million. It designs and builds advanced battery systems for autonomous systems, digital infrastructure, e-mobility and space. For 2025, the company had revenues of $16 million. The company also invests heavily in bitcoin and at the end of March, held 1,083 bitcoins with a market value of $74 million.

In 2025, the company had an operating loss of $43 million. In addition, it took a $14 million write-down on the value of its bitcoin. The company also lost $6.9 million on an investment in a German robotics company that was trying to develop an exoskeleton.

The company was founded in 2013 in San Diego and went public in 2018. It opened a Research & Development facility in Webster, near NASA in March 2023 and moved its corporate headquarters there in August 2024.

Co-founder and CEO Michael Mo owns about 70% of the shares. In April he removed four directors from the Board (one of whom was Mr. Canter) and appointed two new ones. One of the two new directors was Dr. Kimel. With his appointment to the CFO position, Dr. Kimel has now resigned from the Board.

Dr. Kimel has served as the Founder and CEO of a pricing and analytics firm since 2019. Prior to that, he has held various pricing, analytics and strategy roles at companies such as Sears, FirstEnergy Corporation and Toyo Tire Holdings. He will receive a base salary of $350,000.

SEC filing – 8-K KULR CFO appointment