FirstEnergy and International Soap Box Derby Race into the Future with Title Sponsorship Renewal

Rhea-AI Summary

FirstEnergy Corp. (NYSE: FE) has renewed its title sponsorship with The International Soap Box Derby (ISBD) for three years, from 2025-2027. This extension continues a partnership that began in 2012 between the two Akron-based organizations. The announcement came during race week activities for the 86th FirstEnergy All-American Soap Box Derby, featuring over 320 competitors from the US, Canada, and Japan competing for $36,000 in college scholarships.

The World Championship races are scheduled for July 20, 2024, at Derby Downs in Akron, Ohio. FirstEnergy's CEO, Brian Tierney, emphasized the company's commitment to supporting this event that promotes design, engineering, and construction skills while fostering teamwork among youth. ISBD's President, Scott Taylor, praised FirstEnergy's financial and volunteer support, which enables the expansion of derby racing and STEM education programs globally.

Positive

• Renewed title sponsorship for three years (2025-2027)
• Continued support for a globally recognized event
• Promotion of STEM skills and youth engagement

Negative

• None.

AKRON, Ohio, July 19, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is extending its title sponsorship with The International Soap Box Derby (ISBD) for three years. Running from 2025-2027, the sponsorship continues a strong relationship between the two Akron-based institutions that began in 2012.

The extension was announced during race week activities surrounding the 86th FirstEnergy All-American Soap Box Derby, as more than 320 competitors from throughout the United States, Canada and Japan geared up to race their gravity-powered cars for a share of $36,000 in college scholarships. The World Championship races will be held Saturday, July 20, at Derby Downs, 1000 George Washington Blvd., Akron, Ohio, 44312.

Brian Tierney, President and CEO, FirstEnergy: "FirstEnergy is proud to continue our sponsorship of this signature event that brings people to Akron from all over the world. For more than 85 years, the All-American Soap Box Derby has illuminated the importance of design, engineering and construction skills while fostering a spirit of teamwork and friendly competition among our youth. With our renewed sponsorship, we are committed to the ongoing success of these electrifying races and a beloved Akron tradition."

Scott Taylor, President and CEO, International Soap Box Derby: "FirstEnergy has been an excellent sponsor of the International Soap Box Derby, providing both financial and volunteer support since 2012. Their continued support enables us to expand our derby racing network and our STEM education programs to new communities worldwide, while enhancing the experience for the racers and spectators here in Akron during this annual, globally recognized event. We are thrilled that FirstEnergy is extending its sponsorship for another three years."

ABOUT FIRSTENERGY

FirstEnergy Corp. is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on X, formerly known as Twitter, @FirstEnergyCorp or online at firstenergycorp.com. 

ABOUT THE INTERNATIONAL SOAP BOX DERBY

Founded in 1934, the International Soap Box Derby, based in Akron, Ohio, is a nonprofit organization focused on youth sports and STEM education. The organization comprises more than 80 affiliate race locations throughout the United States, Canada and Japan. The ISBD's two primary initiatives are the FirstEnergy All-American Soap Box Derby racing program and the STEM-based Education Program, which provides educational opportunities for K-12 youth worldwide through Soap Box Derby racing. For more information, visit www.soapboxderby.org.

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SOURCE FirstEnergy Corp.

FAQ

When did FirstEnergy (FE) renew its sponsorship with the International Soap Box Derby?

FirstEnergy (FE) announced the renewal of its title sponsorship with the International Soap Box Derby during the race week activities of the 86th FirstEnergy All-American Soap Box Derby in July 2024.

How long is FirstEnergy's (FE) new sponsorship agreement with the Soap Box Derby?

FirstEnergy's (FE) new sponsorship agreement with the International Soap Box Derby is for three years, running from 2025 to 2027.

What is the total scholarship amount offered at the 86th FirstEnergy All-American Soap Box Derby?

The 86th FirstEnergy All-American Soap Box Derby offers a total of $36,000 in college scholarships to competitors.

When and where will the World Championship races for the 86th FirstEnergy All-American Soap Box Derby be held?

The World Championship races for the 86th FirstEnergy All-American Soap Box Derby will be held on Saturday, July 20, 2024, at Derby Downs in Akron, Ohio.