The Manor Marussia F1 team has announced they will take part in the Australian Grand Prix having been rescued by investment from Stephen Fitzpatrick.
Fitzpatrick, the owner of British-based energy provider Ovo Energy, joined Justin King and Graeme Lowdon in confirming that the team's preparations for the upcoming season are on track.
The team has two cars ready for the Australian GP which will "comply fully" with the 2015 regulations while later in the campaign they intend introducing a new 2015 specification car.
Fitzpatrick said: "We've all worked incredibly hard to get the car ready for Melbourne and the season ahead.
"Our fans have given the team amazing support for many years and we want to restore Manor to the very best of racing in the future.
"I have a lifelong passion for Formula One and can't wait for the season ahead, with Manor and the team."
Meanwhile Lowdon, who will remain on as Sporting Director while also taking the role of Manor's president, has thanked all those involved, insisting Manor Marussia is in a "great place" ahead of the 2015 Championship.
"I want to thank all of the teams, the FIA, Formula One Management, our suppliers and staff and of course all of the fans for the support we’ve received over the past six months," he said.
"It has been a challenging period for all of us but we’ve come through it and now we just want to go racing again.
"With formidable new business leadership in Stephen Fitzpatrick and the board presence of Justin King we are now in a great place ahead of the new season.
"This is a fantastic and very rewarding moment for all those involved with the team."