VANCOUVER, BC, Sept. 7, 2022 /CNW/ – Seven-Time Formula 1 World Champion Sir Lewis Hamilton’s Extreme E team, X44, today announces a new title partnership with Vida Carbon Corp, a carbon credit investment firm that aims to reduce global greenhouse gas emissions and fight climate change. This title partnership brings together Vida Carbon and X44 in their shared ambition of utilising the X44 Vida Carbon Racing team’s platform to bring awareness to climate change and positively impact the future of the planet.
According to The Intergovernmental Panel on Climate Change, greenhouse gas emissions must peak by 2025 and be reduced by 43% by 2030 if we are to achieve the Paris Agreement’s goal of limiting global warming to 1.5C. Vida Carbon provides shareholders with exposure to carbon credit markets while supplying crucial capital to carbon credit developers. The Vida team unlocks high-quality carbon credit projects by investing in select initiatives around the world that directly reduce or remove greenhouse gas emissions from the atmosphere. Now with this title partnership, the X44 Vida Carbon Racing team will bring attention to Vida Carbon’s forward thinking and novel strategies in combating climate change.
X44 Vida Carbon Racing, formed by Lewis Hamilton, is currently racing in season two of Extreme E after a successful inaugural season. Named with reference to Lewis’ own racing number, and now with the inclusion of the title partnership, X44 Vida Carbon Racing is highlighting the most serious issues facing our planet and the solutions we can all be part of whilst pushing to create opportunities for the next generation. Ending the first season with a first-place finish in the Jurassic X Prix and in second position in the Championship, X44 Vida Carbon Racing also won the series’ inaugural 2021 Sustainability Award, which rewards teams who drive the most fans to commit to steps that contribute towards a greener future.
The title partnership will be in effect from Round 4 of Extreme E’s second season, seeing the two entities partner in their shared objective of tackling climate change into Season 3 and beyond.
“Around the world, we are all feeling the direct impacts of climate change. Traditional motorsports have long been associated with having a negative impact on the environment, and though many series are taking encouraging steps towards a more sustainable future, Extreme E is unique in the way it approaches this issue,” said Jamie Keech, Executive Chairman at Vida Carbon. “Our partnership with X44 is proof that sustainable practices and a net zero future are possible. Vida Carbon and X44 are working towards that future.”
Sébastien Loeb, Nine-Time World Rally Champion and Driver at X44 Vida Carbon Racing said, “We are very pleased to have Vida Carbon alongside us as we continue our journey in Extreme E. Although there’s nothing we love more than a first place podium, our team is about so much more than just racing. X44 Vida Carbon Racing’s goal is to encourage our fans to take small steps together to have a positive impact on the planet, and a partner like Vida Carbon means we can do just that.”
Vida Carbon is a leading carbon credit royalty & streaming company focused on financing high quality sustainable carbon credit projects globally. Vida Carbon is well capitalized and growing rapidly. Vida’s portfolio of carbon credit generating assets are diversified across jurisdiction and project type and are operated by highly experienced and reputable project developers.
The Company’s mission is to build long-term, mutually beneficial relationships with carbon credit operators and developers in exchange for exposure to the future value created through the production of carbon credits. All projects supported by Vida Carbon bring economic and social benefits to the regions in which they operate.
X44 Vida Carbon Racing, formed by Sir Lewis Hamilton, is currently racing in season two of Extreme E after a successful inaugural season. Named with reference to Lewis’ own racing number, X44 Vida Carbon Racing is highlighting the most serious issues facing our planet and the solutions we can all be part of, whilst pushing to create opportunities for the next generation. Ending the first season with a first-place finish in the Jurassic X Prix and in second position in the Championship, the team also won the series’ inaugural 2021 Sustainability Award, which rewards teams who drive the most fans to commit to steps that contribute towards a greener future.
SOURCE Vida Carbon Corp.