Red Bull Advanced Technologies has announced that it has signed a Memorandum of Understanding (MOU) with Britain's biggest boat builder, Sunseeker International.

The agreement will see the two organisations begin working together on new product development. Red Bull Advanced Technologies is a division of Red Bull Technology which is the parent company of the Aston Martin Red Bull Racing Formula One team.

The MOU between Red Bull Advanced Technologies and the luxury yacht builder was signed at the London Boat Show, with Aston Martin Red Bull Racing Team Principal Christian Horner and Sunseeker CEO, Phil Popham in attendance.

Red Bull Advanced Technologies has already led the way in leading-edge automotive design and development in partnership with Aston Martin on the joint Valkyrie supercar project. The company will now also bring its technical expertise to the world of luxury boatbuilding with one of the industry's undisputed leaders.

"This is an exciting announcement for Red Bull Advanced Technologies and we are delighted to be working with Sunseeker," said Christian Horner. "As a leading name in the marine industry, and one focused on innovation and development, a relationship with Sunseeker is an organic fit for us and it is very pleasing to be forging another pioneering partnership for Red Bull Advanced Technologies."

"We are delighted to sign the MOU with Red Bull Advanced Technologies," added Phil Popham, CEO of Sunseeker International, "and look forward to working closely with them on future projects. Sunseeker has a strong performance heritage, it's in our brand DNA, and since our inception we have designed yachts that make the heart race. As such, Red Bull Advanced Technologies is a natural partner for us and I'm looking forward to working with them."