Crain's Chicago Names Fast Radius a 2022 Fast 50 Company

CHICAGO, May 20, 2022 (GLOBE NEWSWIRE) -- Fast Radius (NASDAQ:FSRD) has been named to the 2022 Crain's Chicago Business Fast 50 list. Based on an independent financial review, Fast Radius ranked as one of Chicagoland's most rapidly growing companies.

"We're steadfast in our mission to build a first-of-its-kind infrastructure to help the world to better design, make, and move what it needs, when and where it is needed," said Fast Radius CEO, Chairman and Co-Founder, Lou Rassey. "We believe our strong growth reflects how our Cloud Manufacturing Platform is helping more companies overcome the widespread problems with the traditionally rigid, wasteful and outdated manufacturing and supply chain models. Fast Radius empowers engineers with modern, software-driven experiences to better design new products, in new ways, and then provides everyone access to make those products in a global network of advanced factories. We are working tirelessly to keep scaling up our platform and software tools to provide a more sustainable, more accessible, and more efficient model for the manufacturing industry. We're thrilled to be included in this year's Fast 50 alongside so many other pioneering companies."

This recognition from Crain's Chicago Business comes as Fast Radius recently announced the opening of their new manufacturing technology campus on Goose Island in Chicago, including a microfactory and software technology center. This new campus builds off of the success of their West Loop microfactory, which was named one of the nine best factories in the world, according to the World Economic Forum. The company also recently launched their early access program, granting select companies the ability to use pre-release software features that allow their teams to better collaborate on design and manufacturing processes.

ABOUT FAST RADIUS

Fast Radius, Inc. is a leading cloud manufacturing and digital supply chain company. The Fast Radius Cloud Manufacturing Platform™ provides software applications and manufacturing solutions that help engineers design, make, and fulfill commercial-grade parts, when and where they are needed. This enables companies to manufacture and ship parts easily, flexibly, and sustainably. Founded in 2017, Fast Radius, Inc. is headquartered in Chicago with offices in Atlanta, Louisville, and Singapore, and microfactories in Chicago and at the UPS Worldport facility in Louisville, KY. To learn more about Fast Radius and how its digital manufacturing capabilities are helping companies, please visit Fast Radius or connect with us on LinkedIn or Twitter.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "scales," "representative of," "valuation," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that Fast Radius is unable to obtain additional funding on terms that are acceptable to Fast Radius or at all; (ii) the outcome of any legal proceedings that may be instituted against Fast Radius, including following the consummation of the business combination with ECP (the "Transaction"), (iii) the ability to maintain the listing of Fast Radius' securities on a national securities exchange, (iv) changes in the competitive industries in which Fast Radius operates, variations in operating performance across competitors, changes in laws and regulations affecting Fast Radius' business and changes in the combined capital structure, (v) the ability to implement business plans, forecasts, and other expectations after the completion of the Transaction, and the ability to identify and realize additional opportunities, (vi) risks related to the uncertainty of Fast Radius' projected financial information, (vii) risks related to Fast Radius' potential inability to become profitable and generate cash, (viii) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic or the armed conflict between Russia and Ukraine, (ix) the risk that demand for Fast Radius' cloud manufacturing technology does not grow as expected, (x) the ability of Fast Radius to retain existing customers and attract new customers, (xi) the potential inability of Fast Radius to manage growth effectively, (xii) the potential inability of Fast Radius to increase its cloud manufacturing capacity or to achieve efficiencies regarding its cloud manufacturing process or other costs, (xiii) the enforceability of Fast Radius' intellectual property rights, including its copyrights, patents, trademarks and trade secrets, and the potential infringement on the intellectual property rights of others, (xiv) Fast Radius' dependence on senior management and other key employees, (xv) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which Fast Radius operates, and (xvi) costs related to the Transaction and the failure to realize anticipated benefits of the Transaction or to realize estimated pro forma results and underlying assumptions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties more fully described in Fast Radius' filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2021 and Form 10-Q for the quarter ended March 31, 2022 and other periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Fast Radius assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Fast Radius does not give any assurance that it will achieve its expectations.

CONTACT

Kelly Smith, MSL U.S.

[email protected]; 646-500-7654