Renault has announced a major sponsorship agreement with former BMW sponsor HP, the global technology leader, for 2010 and 2011. This new agreement will see significant HP branding appear on the Renault F1 R30 race cars from the 2010 Bahrain GP onwards.

Building from a successful technology relationship initiated in 2009, the new sponsorship agreement has three goals: to strengthen technology cooperation between the two companies; to promote their shared values of innovation, excellence and competition; and to increase HP brand awareness and customer engagement in developing markets.

As part of the agreement, Renault F1 Team will gain access to HP technology in order to further boost on-track performance, develop more powerful digital simulation technologies using HP High Performance Computing servers, and gain access to innovative market-leading tools such as the High Definition HP SkyRoom videoconferencing system.

HP will also work with the team to reduce its carbon footprint through the use of 'green' data centres, and 90% recyclable, low-energy-consumption workstations.

"We are delighted to welcome a global leader of the stature of HP to our partner network," said Renault F1 Team Chairman Gerard Lopez. "F1 has a proven ability to boost brand awareness around the world, and we are proud that Renault F1 Team will be HP's partner of choice in achieving this goal.

"Genii Capital believes that F1 can also be used as a very powerful business development platform. We hope that HP can develop new business opportunities through Genii Capital's B2B platform and Mangrove Capital's access to exciting technology opportunities."

Eric Cador, Senior Vice President, Personal Systems Group HP EMEA (Europe, Middle East and Africa), commented: "We are delighted to strengthen our partnership with the Renault Nissan Group and to provide the Renault F1 Team the best of our technology to support them in their quest for victory."