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Nissan Formula E Team Partners with Coral & VAXA Technologies for Carbon Neutral Initiative

YOKOHAMA, Japan – In a significant move towards environmental sustainability, the Nissan Formula E Team, in collaboration with the UAE-based software company Coral, has announced a partnership with biotech firm VAXA Technologies to neutralize its carbon footprint for the Season 9 of the ABB FIA Formula E World Championship.

Coral, renowned for its expertise in carbon offsetting, has recently published a report detailing the Nissan team’s total carbon dioxide emissions (CO2e) during the 2022/23 all-electric series. The report encompasses various aspects such as travel, waste, and energy consumption at the team’s factory. In line with its commitment to sustainability, Nissan Formula E Team has pledged to offset 100% of its CO2e for Season 9 in 2024.

The collaboration involves purchasing carbon offsets from VAXA Technologies. This cutting-edge biotech company is known for its Icelandic Ultra Spirulina (IUS), produced in a verified carbon-negative process. This process effectively transforms clean energy into food (E2F) by utilizing resources from neighboring geothermal plants. IUS production boasts minimal environmental impact, using significantly less land and water compared to conventional beef production, as highlighted in a recent study by Cambridge University.

Additionally, the offsets acquired by the Nissan Formula E Team will support VAXA’s Impact Nutrition ACTION food fortification programs. These programs, implemented in partnership with reputable NGOs in developing nations across Africa, Asia, and South America, aim to address nutritional deficiencies. VAXA’s initiative is not only a stride towards environmental sustainability but also a humanitarian effort, potentially saving over 100 million tons of CO2e in the next 15 years while providing essential nutrition to those in need.

This initiative marks the first step in the agreement between Nissan Formula E Team and Coral, signed in October 2023. Coral’s role extends beyond carbon offsetting; the company will assist the team in assessing, monitoring, and reducing emissions for Season 10, utilizing advanced technologies like AI and blockchain. Coral’s platform ensures transparency and auditability in the acquisition of high-quality credits, aligning with global emissions monitoring standards.

This initiative is a testament to Nissan’s broader commitment to achieving carbon neutrality and promoting zero-emissions vehicles by 2050, as outlined in its Ambition 2030 strategy. The strategy envisages an increase in the electrification mix across Nissan and INFINITI brands to over 55% globally by the decade’s end, fostering a sustainable ecosystem.

Nissan Formula E Team’s environmental efforts have also been recognized with the FIA 3 Star Environmental Accreditation for the second consecutive year, underscoring their dedication to reducing CO2e emissions. This commitment aligns with their continued participation in the ABB FIA Formula E World Championship until at least 2026.

Tommaso Volpe, the managing director and team principal of Nissan Formula E Team, emphasized the importance of transparency in their environmental initiatives. He praised Coral’s technology for accurately calculating their Season 9 carbon footprint and expressed confidence in their investment in VAXA’s verified project. He also highlighted the broader impact of their efforts, extending beyond environmental sustainability to addressing global nutritional deficiencies.

Daniele Sileri, Founder and Head of Strategy at Coral, expressed satisfaction with the partnership’s results, noting the rapid progress in offsetting the team’s Season 9 carbon footprint. He lauded the collaboration with VAXA Impact, which he described as a revolutionary approach to food and nutrition.

The partnership between Nissan Formula E Team, Coral, and VAXA Technologies represents a significant stride towards a sustainable future, balancing technological innovation with environmental responsibility and social impact.

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