The National Energy Services Company (Tarshid) announced on Tuesday it has renewed its partnership and sponsorship of the Diriyah E-Prix for the third consecutive year.
The announcement comes ahead of Formula E's return to the Kingdom for the 2024 Diriyah E-Prix this weekend.
The partnership, in collaboration with the Ministry of Sports, aims to promote sustainable technology, and reaffirms Tarshid's commitment to a sustainable future that aligns with the goals of the ABB FIA Formula E World Championship, the world's first fully electric-powered car racing series.
Through this partnership, Tarshid intends to foster sustainability and promote optimal energy efficiency in the sport sector, while driving innovation in this field, Tarshid said in a statement.
Tarshid CEO Waled Al-Ghreri said: "The renewal of this partnership is a testament to Tarshid's unwavering commitment towards energy efficiency, and its mission to serve the Kingdom's strategic sustainability goal, support the prosperity of the Kingdom's energy efficiency industry, and achieve significant energy savings. These align perfectly with the goals of Formula E, as Tarshid has been a partner for the past two years, 2022 and 2023, and continues to renew its partnership for the third time in 2024."
CBX Founder and CEO Carlo Boutagy said: "It is fantastic to have Tarshid back on board as one of our partners for a third year in a row. The work the team is doing to pioneer energy efficiency aligns so well with the Diriyah E-Prix as we all work together to build towards a more sustainable future; us by showcasing the power of electric mobility, and Tarshid by providing sustainable solutions to increase energy efficiency in the Kingdom."
Nacho Calcedo, Diriyah E-Prix Event Director, Formula E, said: "We welcome Tarshid's continued commitment to supporting the Diriyah E-Prix, and it reflects Formula E's own commitment to bringing the world's most competitive motorsport to Saudi Arabia. We are both dedicated to creating a sustainable and energy efficient future and are excited to showcase the pinnacle of elite sport and sustainability in our exciting racing this weekend."
Formula E was the first all-electric FIA World Championship, showcasing the use of electric cars and energy-efficiency solutions to reduce air pollution and combat climate change, which is aligned with Saudi Vision 2030. The 2024 Diriyah E-Prix offers a unique blend of fun, excitement, and energy efficiency while minimizing environmental impact, with the racetrack illuminated by the latest low-energy LED technology.
Tarshid develops, manages, and finances energy efficiency projects for various sectors in the Kingdom, with the aim of leading the energy efficiency industry and contributing to building a sustainable future.
Tarshid has addressed achievements of replacing more than 4.2 million lighting lamps across the Kingdom by the end of 2023, and increasing energy efficiency in over 22,000 government buildings, with an estimated reduction of over 6,000 GWh annually. This is equivalent to avoiding consumption of more than 10.9 million barrels of oil and preventing over 3.9 million metric tons of harmful carbon emissions, which is equivalent to the environmental impact of planting more than 64.6 million seedlings annually.
