WILLIAMS ANNOUNCES NEW PARTNERSHIP WITH PETROBRAS—
Williams (Ticker: WGF1) is pleased to announce that it has signed a new multi-year partnership agreement with Brazilian multi-national energy company Petrobras.
Williams and Petrobras have had a history of technology collaboration dating back to 1998 when the team started using Petrobras’ fuel for the first time in a partnership which lasted for 11 years. This new agreement will see the Williams and Petrobras technical collaboration continue once more as the two parties work together to develop a new specialist motorsport fuel for use by the team starting in the 2015 season. With new engine regulations coming into effect from 2014 that require teams to use more efficient fuels, Petrobras’ expertise will ensure that the team is well placed to meet the demands of greater energy efficiency within the sport.
Petrobras will use the global platform of Formula One to further brand awareness through the placement of its logo on the side of the Williams Mercedes FW36 chassis and across the team environment and apparel.
Petrobras is a Brazilian company and global leader in energy production through deepwater oil and gas exploration and production. Today they are the pioneers in one of the world’s most promising oil and gas reserves: the pre-salt formation, which will aid the company in doubling its production by 2020. This increase will significantly impact global energy supply and further the development of society.
Petrobras President Maria das Graças Silva Foster celebrated the return of the company to a Formula One team by saying: “We are very happy to be going back to the biggest motorsport competition in the world. During the 11 years that Williams was by our side we made significant advances in product development, such as Podium gasoline. Participating in this competition is a huge challenge, since it requires us to always be ready to meet the highest standards for quality and efficiency demanded by the category. We are very excited to start this new challenge.”
Speaking about the new partnership Sir Frank Williams, Founder and Team Principal of Williams, said: “Petrobras and Williams have had a successful partnership before and we are both looking forward to reuniting for 2014. Technologically they are very strong and that will be important for the team as the new regulations have made fuel efficiency increasingly important. They are also a very ambitious global company and we are looking forward to working together to further their marketing goals.”