British-Dutch multinational oil and gas company Shell has renewed its relationship with Ferrari, the company has said in a press statement.
The partnership that can be traced back to 1929 will extend into the coming decade with the aim being to have a net-zero carbon footprint, both on and off the track, by 2030.
"Scuderia Ferrari and Shell will continue to work together to improve the team’s V6 turbo-hybrid power unit, which already has a thermal efficiency of close to 50%, making it one of the most efficient engines in the world," Shell stated in the press release.
"The two companies will also work hand-in-hand to define how fuels can be developed for the future, including advanced sustainable biofuels and synthetic liquid fuels, both of which are being explored to help meet Formula One™’s goal of fully sustainable fuels in the Formula One™ car."
Ferrari team principal Mattia Binotto commented on both the partnership's long-standing history as well as its future in the coming decade.
"The relationship between Scuderia Ferrari and Shell dates back to 1929, the year our team was founded," Binotto stated.
"In that time, we have produced so many victories together. We are delighted therefore that our collaboration is now set to go on even longer. We share many common values, not least excellence, passion for racing and teamwork, which have made this partnership unique in the history of motor sport.
"As our Innovation Partner we will continue to work with Shell on the transfer of racing technology to mobility as well as the ambitious challenges that lie ahead in particular the aim of Formula 1 to reach a net-zero emissions level by 2030.”
Shell’s Global Executive Vice President for Mobility, István Kapitany, also highlighted the importance of innovation.
“Our partnership with Ferrari has bred truly remarkable innovations – innovations that Shell regularly relies upon when developing new fuels and lubricants for our customers," Kapitany said.
"We’re now entering a very exciting time in our history together as we leverage this partnership to not only strive for success on the track, but also to develop cleaner fuels and lubricants for our customers."