Caterham Technology & Innovation and Caterham Composites have gone into partnership with Mike Gascoyne's MGI company to launch a new sailing team.
Gascoyne, formerly the technical director of Caterham's Formula One team, completed a solo transatlantic expedition last year aboard a Class 40 boat, and is now working on a Class 40 offshore racing campaign to be known as Caterham Challenge.
Alongside sailing director Brian Thompson, Gascoyne, who also worked for Jordan and Toyota during his Formula One engineering career, is initially targeting the Transat Jacques Vabre race from France to Brazil this November. The plan is for the team to compete in a selection of international events over the next two years, with Gascoyne co-skippering with Thompson.
CTI and Caterham Composites will provide 'engineering and technology support' for the project.
MGI, the engineering consultancy which Gascoyne formed in 2001, will be a lead consultant on Caterham Challenge.
"Sailing has always been a very important part of my life and the opportunity to combine my love of sailing with my experience of 24 years at the very highest level of global motorsport is a unique experience and one I am very excited about engaging with," Gascoyne said.
"I played an integral role in the successful launch of the Caterham Formula One team three years ago, then competing as Lotus Racing and latterly as Team Lotus and Caterham F1 Team and I'm very grateful to Caterham Group shareholders Tony Fernandes and Kamarudin Meranun for the chance to launch this innovative new sailing project under the Caterham banner."