The Williams Formula 1 team has announced that it has increased its share in Williams Hybrid Power from 40 per cent to a majority stake of 78 per cent.
The team initially took the share in the company then known as Automotive Hybrid Power in the early days of F1's move towards Kinetic Energy Recovery Systems (KERS) in 2008.
The magnetically loaded composite flywheel technology subsequently developed by the renamed Williams Hybrid Power organisation was never used in F1, but has been used in partnership with Porsche on its GT3 R Hybrid sportscar, which is currently racing in Nurburgring endurance events. WHP is also developing hybrid technologies for the road car market.
"I am delighted that we have now taken a larger stake in Williams Hybrid Power," said WHP chairmain and Williams F1 CEO Alex Burns.
"This agreement means that the business has the funding it needs for the development of a family of MLC flywheels to suit a range of applications in the automotive and other industries.
"I am confident that WHP will continue to deliver value to its customers and develop into a substantial, successful business."