Banco Santander and Formula 1, leaders in the most important race: for a green future

Banco Santander, Ferrari and FOM continue to take giant steps to a more responsible, self-sustaining and efficient future, and they want to dye Formula 1 green. The three have formed a team that, since the entity’s return to the most famous competition in the automotive sector as sponsor of the Italian team, promotes all kinds of initiatives and solutions to achieve that long-awaited sustainable model that the planet longs for. An alliance that has its great support in technological development.

This is demonstrated by projects such as those that promote an additive material to capture CO2 that it will allow construction to be decarbonised with the latest technological advances; an app to encourage the sharing of low-cost vehicles that contributes to reduce the carbon footprint of its users; a technology capable of capturing CO2; Devices more efficient cooling for electric cars; on-site renewable hydrogen production for SMEs; or the hyperloop offer for the transport of passengers and goods with zero direct emissions.

They all have a common goal: to help improve the sustainability of the automotive industry. That is why they have been recognized by the tandem formed by Banco Santander, Ferrari and FOM. They have been selected among the more than 600 entrepreneurs from 11 countries that have been part of the Santander X Global Challenge | Countdown 2 Zero, the global challenge promoted by Santander and FOM that aims to find innovative and sustainable solutions for the automotive world in different areas: mobility, logistics and transport and alternatives to offset carbon emissions.

In an awards ceremony held in a “green space” in Mexico City, coinciding with the celebration of the Formula 1 Grand Prix of Mexico, Concrete4Change (UK), Staxy (UK) and Ucaneo (Germany) They have been the winning companies in the Startup category; while the Spanish Cedrion, H2SITE and Zeleros have been chosen as the best Scaleup.

In addition, there are honorable mentions for Basquevolt (Spain), which generates solid-state lithium batteries, DeepDrive (Germany), which develops innovative efficient propulsion technology for electric vehicles and Nüwiel (Germany), manufacturer of an electric trailer with zero force sensor technology that enables electric acceleration and braking.

More than 600 entrepreneurs from 11 countries have participated in the challenge, including businesses from Germany, Argentina, Brazil, Chile, USA, Spain, Mexico, Portugal, Poland, United Kingdom and Uruguay.

Now the six winners will be able to continue developing their ideas driven by the 120,000 euros of prizes that have been distributed: 30,000 for startups and 90,000 for scaleups.

In addition, all the awarded companies will have the opportunity to present their solutions to Formula 1 executives and work with EIT InnoEnergy Innovation Engine in the design of their growth plan, and in parallel they will become part of Santander X 100, an exclusive and global business community for the main Santander X projects.

“The collaboration between Santander and Formula 1® offers entrepreneurs the opportunity to share their ideas for sustainable projects with one of the most innovative sports in the world. As a leading car financier in Europe, the United States and other countries, I would be proud if some of these ideas end up being implemented in the automotive industry to make it increasingly sustainable”, said Juan Manuel Cendoya, Director of Communication, Corporate Marketing and Santander Bank Studies.

For his part, Stefano DomenicaliChairman and CEO of Formula One Group stated. “Formula 1 is all innovationso it is a pleasure for us to be part of this challenge and see solutions that are consistent with our sustainability strategy and our commitment to reach net zero emissions by 2030”.

With the sponsorship of Ferrari as a backdrop, the challenge is the first project of the agreement reached between the financial entity and FOM to promote different sustainability initiatives for three years that contribute to the sustainable development of the automotive industry.

^{*This content sponsored by SANTANDER has been prepared by Diario AS.}