NEWS // RENAULT TO STAY IN FORMULA ONE

With persistent rumours surrounding Renault's participation in Formula One next season having circulated through the press for a couple of months now, this week saw the French automaker commit to the series for 2010.

Rather than take the approach of their former F1 rival, Toyota, and withdraw from the sport altogether, Renault has sold a proportion of its operation to the Luxembourg based private investment company Genii Capital... [read more]

The agreement between Genii and Renault concerns the team’s facilities at Enstone, UK. The Oxfordshire site includes state-of-the-art aerodynamic facilities, and a recently completed CFD (Computational Fluid Dynamics) centre.

Genii Capital’s core investment target areas include brand management, emerging technologies (including public health, energy and environmental technologies),hospitality, entertainment and the automotive industry, including: MOV’IT – a highly specialized high-performance brake systems design and manufacturing company; and MCE-5– a variable compression ratio engine technology.

“I am delighted to welcome Genii Capital as our new strategic partner as I am sure that their enthusiasm and business expertise will create a new dynamic for the team, the staff, and our partners" said Renault F1 team president Bernard Rey before adding "This weeks announcement also confirms Renault’s commitment and trust in the sport’s governing bodies to improve the green credentials of Formula 1. "Renault will be able to entertain its fans, while promoting a leaner and sounder championship whilst at the same time showing Renault’s skill when it comes to developing high- performance, fuel-efficient cars.”

Editorial: Neil Tozer
Photo: Justin W. Coffey