Team Lotus and Renault Sport F1 have confirmed that their existing engine deal is to be extended for a further season to the end of 2013 and the close of the V8 era, with the objective of continuing to work together when the new regulations come into force the following year.

Renault Sport F1 and Red Bull Technology will also provide the Anglo-Malaysian outfit with KERS systems for the first time for the duration of the alliance - a development that has been welcomed by Team Lotus team principal Tony Fernandes.

"Having established an incredibly good working partnership since the first days of our agreement, we are absolutely delighted that Renault Sport F1 and Red Bull Technology will be playing such an integral role in the ongoing development of our team until at least 2013, and then we are aiming to keep working together when the new rules are introduced," he affirmed.

"They are both passionate, dedicated teams of people with whom we have a growing relationship that is creating a number of exciting opportunities for us for the future. They share our vision for where we want to take our team, and we are very proud to have their power pushing us forward.

"Not only will we be able to build upon everything we have learnt through working with Renault and Red Bull Technology in 2011, but we will now have the added benefit of KERS for next year, which really is a major step forward for our team. We have done the very best job we can this year, but without that extra power, we are always competing on a different level to the teams ahead, so to give our drivers that boost is a key element in helping us to catch the cars ahead - and competing with them when we do so."

"This year, we have established solid foundations with Team Lotus," added Jean-Fran?ois Caubet, managing director of Renault Sport F1, "and this latest agreement consolidates the relationship that we look forward to continuing for many seasons to come. Renault is in F1 to display the quality of its product, so we need to be associated with teams that clearly have potential.

"The steps Team Lotus has made on and off-track with its technical structure and facilities have given us a confidence they will achieve their aims. KERS is now an essential part to a competitive performance in F1 today, and we hope this supply will help the team to continue its evolution. Furthermore, a wider experience of using the KERS system at this point in time will help in the development of the powerful energy recovery systems that will be introduced under the future engine regulations."

"We're very happy to extend the relationship between Red Bull Technology and Team Lotus, which already utilises our gearboxes, to include KERS for 2012 onwards," echoed Red Bull Racing team principal Christian Horner. "This endorses the joint venture between Renault Sport F1 and Red Bull Technology, which will continue to develop in the coming months. Hopefully, this will enable Team Lotus to build upon the significant progress they have already made this season."