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Andretti Expands KULR Technology Relationship for the 106th Running of the Indianapolis 500 Presented by Gainbridge

INDIANAPOLIS, Feb. 15, 2022 (GLOBE NEWSWIRE) — 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 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 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 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.

About Brian Scott

I play on the radio from 7 am -1 pm weekdays on 98.9 FM WYRZ and WYRZ.org. Follow me on twitter @WYRZBrianScott or e-mail me at brian@wyrz.org.

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