There are two bands called Ultima Thule: one is an Estonian Hard-Rock band and the other's a Nationalist-Rock Band from Sweden (Nyköping).

Estonian Ultima Thule: An Estonian rock-band. It has existed since 1986. The leader of the group has been the guitarist and (later) singer Riho Sibul. Ultima Thule has been one of the most influential Estonian bands of the 1980s and 1990s. Their style has been characterized as a blend of blues-rock with witty lyrics and influences of Estonian folk-music.
The original singer of the band, Tõnis Mägi has in the 2000s mainly chosen a solo career as well as the former drummer Peeter Jõgioja (featuring also in 2004 Eurovision song contest with the group Neiokõsõ).

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Swedish Ultima Thule: They are one of the oldest and most popular bands from this genre.
Most of their songs are about Nordic mythology and patriotism.
The band is seen by some people as racist, because they've recieved financial support from racist organisations and have played together with white power bands at several concerts. The members themselves claim they have no racist beliefs, but only support their country. They say they can't take responsibility if some of their fans are racists. Far from all of the band's fans are from the neo-nazi movement, they're also popular among both punks, skinheads, "raggare" and other people.
Their latest album was entitled: "Yggdrasil".