By Sam Bridge
Formula 1 and Aramco says they plan to identify opportunities for the advancement of sustainable fuels, enhanced engine efficiencies and emerging mobility technology
Formula 1 on Tuesday announced a new long-term global sponsorship deal with energy giant Saudi Aramco.
Aramco will become Formula 1’s sixth global partner alongside DHL, Emirates, Heineken, Pirelli and Rolex, a statement said.
The deal will include trackside branding for Aramco at most races and title rights to the US, Spanish and Hungarian Grands Prix in 2020.
Formula 1 and Aramco said they will combine their shared expertise to identify opportunities for the advancement of sustainable fuels, enhanced engine efficiencies and emerging mobility technology.
Chase Carey, chairman, and CEO of Formula 1, said: “We are delighted to welcome Aramco to the Formula 1 family as a long-term Global Partner as we start our 2020 season. We are looking forward to sharing our combined expertise and working with Aramco on technological innovation and we will benefit hugely from its capabilities and expertise in the fuel and energy sector.”
Aramco president and CEO Amin H Nasser added: “We are excited to partner with Formula 1, a strong global sports brand with millions of fans around the world. As the world’s largest energy supplier and an innovation leader, we have the ambition to find game-changing solutions for better-performing engines and cleaner energy. Partnerships like these are important to help us to deliver on our ambitions.”
Aramco said it selected Formula 1 as its first global sponsorship platform in recognition of the sport’s dynamic appeal and growing global fan base.