SM Vaidya, Chairman of IOC, announced the partnership with Two Wheels Motor Racing as the “Official Fuel Partner” for the prestigious FIM Asia Road Racing Championship (ARRC) spanning from 2024 to 2026.As part of this collaboration, IOC will produce fuel for Formula One cars at the Paradip refinery.
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On the sidelines of this major announcement, Vaidya also mentioned that the certification process for the special fuel tailored for Formula One cars will be completed within the next three months.
Formula 1: What fuel is used currently?
At present, F1 cars make use of E10 fuel, containing 10 percent renewable ethanol. However, F1 is advocating for further advancements in fuel technology as it is working with leading fuel manufacturers to develop a 100 percent sustainable hybrid fuel, slated for introduction in 2026. This coincides with the rollout of the new era of F1 hybrid power units.
In contrast to road cars, Formula 1 (F1) will not transition to being fully electric, as there already exists an electric championship known as Formula E. However, with the introduction of sustainable fuel, F1 aims to mitigate its carbon footprint by ensuring that existing combustion-engined cars can continue to operate without adding to the overall carbon emissions in the atmosphere.
Formula 1 is now headed to Saudi Arabia for the second round of the 2024 season. Reigning champion Max Verstappen maintained his dominant streak in the first round at Bahrain, with his teammate Checo Perez and Ferrari’s Carlos Sainz joining him on the podium.