With a little more than 30 minutes to go in the Michelin GT Challenge at Virginia International Raceway, the #45 car suddenly expired approaching the ‘Roller Coaster’ corner sequence.
The Huracan appeared to spin on its own fluid as it lit up in flames before hitting a tyre barrier backwards in the grass run-off.
Formal quickly exited the car as flames licked the cockpit.
The Costa Rican driver ran away from the fiery scene and over an Armco barrier where he signalled for help.
He was quickly attended to by trackside marshals, who gave him water to pour over his face.
Formal was taken to the infield care centre and was released with minor burns.
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On social media, Formal posted an image of his burnt and sooty helmet.
“I’m okay,” said Formal.
“Everything that could go wrong, went wrong, but everything that could go right went really right.
“I’m really grateful, really thankful, god was with me in that one.
“Just some face burns on my lip, on my cheeks, but I’m okay.
“We’ve got a test next week and I’ll be there.”
The Michelin GT Challenge is the only race on the IMSA schedule solely for GTD Pro and GTD entries.
Corvette Racing took victory in the 160-minute contest with Antonio Garcia and Alexander Sims in their Corvette Z06 GT3.R.
Dragonspeed duo Albert Costa and Giacomo Altoe were second in their Ferrari 296 GT3 while Corvette bookended the podium with Tommy Milner and Nicky Catsburg third.
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