Williams has sold a majority stake in its technology and engineering compan♛y, Williams Advanced Engineering, ahead of the 2020 season.

Williams Advanced Engineering has operated as an external arm to the company’s Formula 1 team since 2010, working on a number of projects with brands such as Nissan, Jaguar, Lotus an🐻d Formula E🗹.

In a statement issued by Williams Gra💙nd Prix Holdings on Tuesday, it was confirmed that a majority stake in Williams Advanc📖ed Engineering has been sold to EMK Capital.

Williams confirmed it will retain a “signi﷽ficant minority interest” in WAE, with the fresh funds being used to “support 🦋and accelerate long term growth in Williams Advanced Engineering including the commercialisation of various technology opportunities”.

“We have rapidly grown WAE from an embryonic one client start-up, to a business with many clients in multiple sectors. The time is now right to sell a majority stake to enable WAE to further scale and develop its technologies,” said ๊Mike O’Driscoll, Group CEO.

“EMK Capital have a proven track record of success which will enable WAE ✅to take advantage of these emerging opportunities and realise its full potential.”

Craig Wilson, Managing Director of Williams Advanced Engineering, added: “Williams Advanced E𓆏ngineering has developed a strong reputation for providing energy-efficient adva♔nced performance solutions to a diverse range of sectors and blue-chip clients.

“This expertis🐲e and our technologies in areas such as electrification, lightweight structures, aerodynamics an💫d precision manufacture will become even more relevant and in-demand globally going forward.

“This new ownership structure will enable WAE to take advantage of these emerging opportunities and comes at a pivot𝓡al moment allowing us to further invest in new areas of capability and technologies in order to realise the full potential of the business.”