KULR Technology Group Inc. (OTCQB:KULR), a San Diego-headquartered developer of lithium-ion battery safety and thermal management technologies, has entered into a partnership with Andretti Technologies to adapt thermal management technologies used in aerospace into electric vehicles used in motorsports.
What To Know: Kulr's primary focus has been on thermal management solutions for space exploration, including the NICER instrument on the International Space Station, the Mercury Messenger and the SHERLOC instrument on the Mars Rover.
ATEC is the technology arm of Andretti Autosport, the auto racing team founded by champion driver Michael Andretti.
In this new partnership, ATEC is seeking to adapt Kulr's cooling technology, battery cell architecture and testing methodologies for EV motorsports applications.
Why It Matters: EV racing is a relatively smaller section of the wider motorsports environment, with the Formula E racing series that began in 2014 the most notable endeavor in the sport.
Among the major U.S. auto racing governing bodies, EV adaptation has been slow: the NHRA is discussing the potential of introducing EV drag racing, while NASCAR’s latest next-gen car — set to be unveiled in 2022 — will reportedly feature a hybrid system rather than a pure EV structure.
Nonetheless, Kulr and ATEC are confident EV auto racing will expand in the near future.
“We are in the early innings of the EV revolution,” said Kulr CEO Michael Mo. "ATEC is a perfect partner for KULR to showcase our space-proven technology in the world of high-performance motorsports. From here, we will deliver the absolute pinnacle in performance and the safest battery products for the mass EV markets."
Photo courtesy Andretti Autosport.