Marco Sorensen will compete in the Formula Renault 3.5 Series again this year, having concluded a deal with Tech 1 Racing, it has been confirmed.

Sorensen, who was recently promoted to the post of reserve and development driver for the Lotus F1 team, has already racked-up three wins in FR3.5 and going into his third season in the category will be aiming to emulate what fellow countryman Kevin Magnussen did in 2013, when he won the title.

"To continue our series [and take our fifth teams title in five years] we need to have two first-class drivers capable of scoring big points in every race," said Simon Abadie, Tech 1 Racing team manager. "So we're very happy to welcome Marco Sorensen to our team.

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"He's a very quick driver who's already shown his talent in the Formula Renault 3.5 series as we've been able to see over the past two seasons."

"Since the tests we carried out at Motorland Aragon in November 2013 we're convinced that we can do a good job together and that Marco will move up to another level," Abadie added.

"On Tuesday when collective testing restarts we're going to give him the best possible environment to fight at the front and clinch the championship!"

Saxo Bank, the trading and investment specialist - founded in Copenhagen in 1992, will sponsor Sorensen in his new role with Tech 1.

"Saxo Bank's sports sponsorships are always ambitious. We are in it to win and to give our clients and partners great experiences. Saxo Bank is delighted to aim for the title in Renault WS in 2014 with Marco and Tech 1," remarked Saxo Bank co-CEO Lars Seier Christensen.

Meanwhile, Tech 1 Racing has said it will announce the name of the Dane's team-mate for 2014 in the 'next few days'.