AKRON, Ohio – The All-American Soap Box Derby, held every year in Akron, announced Wednesday that Akron-based FirstEnergy Corp. has extended its title partnership for five years.

More than 400 children and their families have gathered in Akron this week from across the country, as well as Canada and Japan, to compete in the 82nd annual event in their gravity-powered cars to win part of $36,000 in college scholarships.

Saturday is race day at Derby Downs at 1000 George Washington Boulevard in Akron.

“For more than 80 years, this organization has provided young people the opportunity to learn important design, engineering and other STEM lessons, while at the same time developing the value of teamwork and friendly competition,” FirstEnergy president and CEO Charles E. Jones said in a statement. “By sponsoring the event, we want to help make sure this great Akron tradition continues.”

Mark Gerberich, president and CEO of International Soap Box Derby, said FirstEnergy has been an excellent partner since 2012, “and we are grateful and thrilled that the company is extending our relationship for another five years."

Admission to Derby Downs is $5. Races begin at 9 a.m. Saturday, and the V.I.P. heat is scheduled for 1 p.m.

Want more Akron news? Sign up for cleveland.com’s Rubber City Daily, an email newsletter delivered at 5:30 a.m. Monday through Friday.