CHICAGO, June 17, 2004 -- Boeing, a leader in aerospace technology, and the Renault Formula 1 racing team, a leader in the high-tech, fast-moving motor sport industry, signed a memorandum of understanding this month to investigate technology collaboration projects of mutual interest.
Under this agreement, technologists in Boeing Phantom Works, the company's advanced research-and-development unit, and the Renault F1 Team have begun discussing possible collaboration on a number of advanced design and manufacturing technologies.
"Boeing Phantom Works has been entering into research relationships around the world as part of our effort to find new technologies and processes for improving aerospace products and services," said Miller Adams, vice president of Boeing Technology Ventures, a unit of Phantom Works. "There are interesting similarities between the technologies required to develop Formula 1 racing cars and aerospace products."
"Formula 1 is the ideal proving ground for leading-edge technologies, and we believe that this relationship will make a valuable contribution to meeting our performance objectives, as well as theirs," said Bob Bell, Renault F1 Team technical director. "Within the team, we are excited at the prospect of collaborating on innovative research programs with Boeing, and look forward to exploiting the natural synergies between the aerospace industry and Formula 1."
Renault's history in international motorsport stretches back to victory in the first ever Grand Prix, held in 1906. The Mild Seven Renault F1 Team was formed in 2002 following Renault's decision to return to the highest level of motorsport after a five-year absence in order to drive sales growth and increase global brand recognition. The team continuously strives to improve and apply technology to enhance its competitiveness.
For more information, see the Renault F1 Team website.
With a heritage that mirrors the first 100 years of flight, Boeing is the world's leading aerospace company and a top U.S. exporter in terms of sales. Providing products and services to customers in 145 countries, Boeing is a global market leader in commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services. Boeing Phantom Works, the company's advanced research and development unit, works with the company's major business units to help determine their technology needs and collaborates with universities, research agencies and other technology companies worldwide to meet those needs.
For more information, see the Boeing website.
Boeing Europe (Spain)
Boeing Phantom Works (Seattle)
Renault F1 Team (United Kingdom)