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Press Release: Thursday, October 28 2021, 17:00 CAT | Source: Algorand

‘Greenest blockchain’ Algorand partners with ‘the Greenest Team on the Greenest Grid’ Envision Virgin Racing to ensure the next generation of blockchain adoption and innovation is environmentally friendly.

Envision Virgin Racing has today announced a new multi-year partnership that will see the Algorand Foundation become the team’s Platinum Partner.

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the power of the Algorand protocol and its ecosystem, to enable everyone to harness the potential of an equitable, truly borderless, digital economy, built on a carbon-negative network, that will help sustain a better planet.

Like Envision Virgin Racing, the Algorand Foundation has a commitment to a sustainable future built on cutting-edge innovation and high-performance, backed by durability and reliability forged in the heat of real-world competition.

This collaboration sees the Algorand Foundation become a partner of the team’s innovative ‘Race Against Climate Change’ sustainability programme, created to help amplify the fight against climate change and accelerate the movement to zero-emission vehicles. Envision Virgin Racing will also work with the Algorand Foundation to strengthen its community initiatives, including supporting the Foundation’s developer and innovator community events.

Commenting on the announcement, Franz Jung, Vice President of Envision Group and Chairman of the Board of Envision Virgin Racing Formula E team said: “Sustainability and addressing the climate crisis through the deployment and adoption of innovative new technology is core to why we exist. We’re delighted to be partnering with the Algorand Foundation because, whilst blockchain technology provides many interesting new opportunities for us, and many other organizations, Algorand’s technology allows us the unique opportunity to deploy blockchain in the most environmentally responsible way”.

Sean Lee, Chief Executive of the Algorand Foundation, added: “The Algorand Foundation, in its mission to build awareness of the Algorand blockchain and its rapidly growing ecosystem, had been seeking a global partnership that would deliver that increased awareness on a platform that delivered the passion and excitement of highly competitive sports but that would also parallel the key sustainability values of the Algorand ecosystem. We’re thrilled to partner with Envision Virgin Racing, with whom we have so many amazing synergies.”

Lee continues: “The Algorand blockchain has been built from the outset to have the smallest possible carbon and energy footprint and to provide a uniquely sustainable blockchain platform for innovators around the world who want to create technology that has sustainability at its core. We look forward to supporting each other in our missions to show that sustainable, climate-friendly innovation is the optimal approach to creating our future technology and economies.”

As one of the founding teams of the FIA Formula E World Championship, Envision Virgin Racing — owned by world-leading Greentech company Envision Group — boasts an impressive record both on and off the track. Aside from securing 11 wins and 33 podiums in their 84 races, Envision Virgin Racing was the first carbon-neutral Formula E team (PAS 2060). It is also one of a handful to achieve the FIA’s Three Star Sustainability Accreditation, and the only sports team to partner with the UK government to support their ‘Together For Our Planet’ initiative and the UN’s COP26 global summit.

The team’s new Season 8 livery featuring the Algorand Foundation logo will first be seen at the UN’s COP26 global climate conference. The new-look car will be displayed in the Green Zone at COP26 from Monday, November 1st until Friday 12th.

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This article is a Press Release received from Algorand. Global Crypto did not receive any form of compensation for its publication, and as this material is deemed newsworthy for the Southern African blockchain industry, it was thus published accordingly.

Kratika is Global Crypto's Admin Assistant. She has extensive experience working for top tech firms from around the world, and has a wealth of knowledge in the FinTech industry.