SAN DIEGO, May 25, 2021 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KULR) (the "Company" or "KULR"), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, today announced it will serve as a sponsor of Marco Andretti in the 105th Running of the Indianapolis 500 this Sunday, May 30, 2021. Piloted by Marco Andretti, the No. 98 Honda represents a partnership between Andretti Herta-Haupert Autosport with Marco Andretti and Curb-Agajanian. As a corporate sponsor, the KULR logo will be featured on the side tire ramp of the race car.
KULR Technology Group Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Earlier this year KULR became the official thermal management and battery safety technical partner for Andretti Technologies, the advanced technology arm of racing enterprise Andretti Autosport. The alliance establishes a thermal management testing and design platform for high-performance battery solutions with the highest safety ratings adapted to the technical requirements of Andretti’s racing enterprise.
“Excited to have KULR expand to our INDYCAR family for this year’s Indy 500,” said Marissa Andretti, Vice President, Andretti Autosport. "We already collaborate together on other motorsports projects, and we are both huge proponents of highlighting technical excellence, racing safety, and team building. I'm excited to see what we can accomplish together – both on and off the track."
"The Andretti name represents the pinnacle of racing achievement in the NTT INDYCAR SERIES," said Michael Mo, CEO, KULR Technology Group. "KULR is honored to be associated with the heritage and legacy Andretti Autosport maintains in the world of high-performance racing."
In April 2021, KULR became official thermal management and battery safety provider for Andretti United Extreme E, the combination of U.S.-based Andretti Autosport and England’s United Autosports, for Extreme E, the new all-electric off-road global racing series.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB: 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.
About Andretti Autosport
Andretti 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 BMW i Andretti Motorsport, the Indianapolis-based team fields multiple entries across the INDYCAR SERIES, Indy Lights, the FIA Formula E Championship and the IMSA WeatherTech Sportscar Championship LMP3 division. The team also competes as Walkinshaw Andretti United in the Australian Supercars category through partnership with Walkinshaw Racing and United Autosports and additionally is set to field an entry in the new Extreme E championship via Andretti United Extreme E.
The global racing enterprise boasts four INDYCAR SERIES championships, four 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.
Safe Harbor Statement
This 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.
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