Andretti Expands KULR Technology Relationship for the 106th Running of the Indianapolis 500 Presented by Gainbridge
February 15 2022 - 9:00AM
KULR Technology Group (NYSE American: KULR) has joined five-time
Indy 500 championship winning team, Andretti Autosport, to serve as
the primary sponsor of Marco Andretti’s No. 98 Honda for the 106th
Running of the Indianapolis 500 Presented by Gainbridge. The 2022
Greatest Spectacle in Racing will mark the third-generation
driver’s 250th INDYCAR career start.
KULR Technology Group first joined Andretti
Technologies (“ATEC”), the advanced technology arm of Andretti
Autosport, and sister team, Andretti United Extreme E, in 2021 as
the official thermal management and battery safety technical
partner. The goal of the ATEC partnership focuses on transferring
aerospace knowledge onto the racetrack. KULR’s expertise with
lightweight, high-performance thermal management solutions through
space exploration provides the opportunity to implement new cooling
technology, battery cell architecture and testing methodologies
within the high performance and high-power applications across the
motorsport landscapes.
“We’ve worked with KULR through Andretti
Technologies for over a year now, including last year’s Indy 500
with Marco, and we are thrilled to now welcome them as a primary
sponsor to our INDYCAR program,” said Andretti Autosport Chairman
and CEO Michael Andretti. “The development potential of KULR’s
technology is exciting given their expertise in high-performance
thermal management solutions and understanding of battery safety.
We look forward to this special event in May as Marco celebrates
250 career INDYCAR starts.”
“We are humbled and honored to have the
legendary Andretti Autosport racing team represent the KULR brand
in the upcoming Indianapolis 500,” said KULR President and COO
Keith Cochran. “As the primary sponsor for the #98 car driven by
Marco Andretti, we are extending our partnership with Andretti
Autosport and further demonstrating the breadth of applications for
KULR’s technologies.”
Returning behind the wheel, Andretti is set to
make his 17th Indy 500 start. Over the 16 starts, Andretti has
recorded eight top-10 finishes and four podium results,
additionally earning the Indianapolis 500 pole position in 2020. He
will look to capitalize on his experience at the famed 2.5-mile
oval and achieve his first Indianapolis 500 victory.
The No. 98 Honda and Marco Andretti will return
to the track for Open Testing on April 20, ahead of the official
Indianapolis 500 opening day on May 17. The 106th Running of the
Indianapolis presented by Gainbridge will be seen on May 29 with
live coverage on NBC.
For more information, visit AndrettiAutosport.com
About Andretti
AutosportAndretti Autosport, led by racing legend Michael
Andretti, boasts a wide racing portfolio rooted in tradition and
designed for success. Under the banners of Andretti Autosport
and Avalanche Andretti Formula E, the Indianapolis-based team
fields multiple entries across the INDYCAR SERIES, Indy Lights, the
FIA Formula E World Championship and the IMSA Prototype Challenge
LMP3 division. The team also competes as Walkinshaw Andretti United
in the Australian Supercars category through partnership with
Walkinshaw Racing and United Autosports. Additionally, the team
fields an entry in the Extreme E championship via Andretti United
Extreme E. The global racing enterprise boasts four INDYCAR
SERIES championships, five Indy Light titles, one Pro Mazda
championship, a Silver Class GT4 Championship and has captured
victory five times at the famed Indianapolis 500. The team
also holds two X Games Gold Medals and five U.S. rallycross
championships.
About KULR Technology Group
Inc. KULR Technology Group Inc. (NYSE American: KULR)
develops, manufactures and licenses next-generation carbon fiber
thermal management technologies for batteries and electronic
systems. Leveraging the company's roots in developing breakthrough
cooling solutions for NASA space missions and backed by a strong
intellectual property portfolio, KULR enables leading aerospace,
electronics, energy storage, 5G infrastructure, and electric
vehicle manufacturers to make their products cooler, lighter and
safer for the consumer. For more information, please visit
www.KULRTechnology.com.
Safe Harbor StatementThis
release does not constitute an offer to sell or a solicitation of
offers to buy any securities of any entity. This release contains
certain forward-looking statements based on our current
expectations, forecasts 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 19, 2021. 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 forecasts are provided by management in this
release are based on information available at this time and
management expects that internal projections and expectations may
change over time. In addition, the forecasts are entirely on
management’s best estimate of our future financial performance
given our current contracts, current backlog of opportunities and
conversations with new and existing customers about our products
and services. We assume no obligation to update the information
included in this press release, whether as a result of new
information, future events or otherwise.
Andretti Media Contacts:Ryann Weatherford
VP,
Communications
ryann.rigsby@andrettiautosport.com
610.909.7312
KULR Media Relations:Annika HarperThe Antenna
GroupKULR@antennagroup.com
KULR Investor Relations:Tom Colton or Matt
Glover Gateway Investor RelationsMain: (949) 574-3860
KULR@gatewayir.com
SOURCE: Andretti Autosport
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c58b3728-1eb5-48dd-865a-4305c56b895b
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