London & Riyadh-: SABIC, a global leader in the chemical industry, has announced the launch of a major long-term sponsorship deal and innovation partnership with Formula E, the world’s first net-zero sport since inception. The partnership will be launched this weekend with title sponsorship of the 2022 SABIC London E-Prix, a double-header of races at the ExCeL London exhibition centre on 30 and 31 July in the ABB FIA Formula E World Championship.
SABIC Vice-Chairman and CEO, Yousef Al-Benyan, said: “We are excited to partner with Formula E. Our sponsorship will drive global visibility of the SABIC brand within a relevant, exciting and growing global sports platform. In addition we intend to collaborate closely with Formula E to integrate our sustainable solutions into their ecosystem and operations.”
He added: “This offers SABIC a unique opportunity to transfer our innovations from Formula E into the broader automotive and EV industries benefiting our customers and partners and demonstrating our ability to support the world’s transition to EV and a more sustainable future.”
The partnership aligns fully with the company’s broader sustainability strategy, which supports a circular carbon economy vision where all value chains of carbon-containing products loop back. It also resonates perfectly with electrification, one of the key pathways that SABIC has identified towards achieving carbon neutrality.
Formula E Founder and Chairman, Alejandro Agag, said: “We welcome SABIC to the ABB FIA Formula E World Championship. The 2022 SABIC London E-Prix is the beginning of a progressive and innovative partnership that will have a positive impact on our mission to drive sustainable human progress through the power of electric racing.”
The partnership also provides SABIC a unique platform to enable business engagement serving to reach partners across the automotive and EV value chains. Moreover, the partnership aligns perfectly with BLUEHERO™, the recently announced initiative which underscores SABIC’s commitment to support the shift to electric power, with the delivery of automotive polymer materials, solutions and capabilities for the optimization of EV battery systems as its first area of focus.