The new PURE engine company – which was working on an F1-spec engine for the new turbo regulations in 2014 – has had to indefinitely suspend production after the loss of a major investor.
Run by former BAR team principal Craig Pollock (pictured) out of the headquarters of the defunct Toyota F1 team in Cologne, the operation was working on a supply of low-cost 1.6-litre V6 turbo customer engines to take to the F1 market ahead of the 2014 season.
Pollock made the announcement of the suspension of operations on Friday.
“The situation is very simple,” he said. “The investor is US-based, but the bridging finance must come out of the” EU [European Union] as Swiss authorities are insisting upon that because of the tax situation.
“We expect bridging finance to be in place by the end of the month (July) and it will come from the EU.
“We have been manufacturing the parts and putting engines together in Cologne, but that has ceased as of today.”
Neither Pollock, nor PURE’s newly-appointed technical director Gilles Simon, was unable to give a clear indication as to when operations would, or could, resume.