zzdcar
Home
/
Reviews
/
Racing
/
Embattled F1 Sponsor Rich Energy Is Now 'Lightning Volt Limited,' CEO William Storey Is Out
Embattled F1 Sponsor Rich Energy Is Now 'Lightning Volt Limited,' CEO William Storey Is Out-July 2024
2024-02-19 EST 22:11:08

Image for article titled Embattled F1 Sponsor Rich Energy Is Now 'Lightning Volt Limited,' CEO William Storey Is Out

On my best day, I don’t think I could’ve concocted the bizarre story about Haas Formula One sponsor : a supposed energy drink empire out of Great Britain, aimed directly at Red Bull, with a shady past and a bombastic CEO who comes off on Twitter like racing’s bargain-basement Donald Trump. Evidently, some folks at Rich Energy have had enough, because the company’s apparently getting a new name and new leadership.

Industry site broke the story earlier today that Rich Energy is now called “Lightning Volt Limited,” and that former boss William Storey is out as both director and “a person with significant control.”

Those details are corroborated by a listing on the UK’s , a registrar of British businesses. The changes happened today.

Exactly what’s happening here is, and has been, quite confounding.

In recent days Storey—who looks like a ZZ Top roadie and “fired” the Haas F1 Team his company sponsored for “” and a “PC culture” in racing—has between himself and his company’s minority shareholders.

One can assume from this that those shareholders won out, or transferred assets from Rich Energy to this new company, without Storey aboard.

Rich Energy, the enigmatic British energy-drink company that came aboard the Haas Formula One…

It’s been a surprising saga from start to finish, but what’s not surprising is the adults in the room would want to get rid of this guy, who loosed this gem of a Tweet over the weekend:

Storey has not yet responded to an email from Jalopnik seeking comment. It has been said that Storey retains control of Rich Energy’s Twitter account.

The big question now, at least for racing fans, is what happens with Haas F1's sponsorship agreement. Does it transfer over, and become the Lightning Volt Haas F1 Team? Or is the only U.S.-based F1 team in need of a new partner? That remains unclear, and so far Haas hasn’t said anything publicly.

Fans and industry watchers began turning their eyes to Rich Energy earlier this year, the company had confusing beginnings in Croatia, a minimal product presence and very little cash in the bank at one recent point, despite apparently being able to sponsor an F1 team. Rich Energy has since been sued by a company called Whyte Bikes over allegations that it stole the latter’s stag-like logo; as of Friday, Rich Energy still owed that company a court-ordered $45,000.

And over the weekend a letter apparently from Haas F1's lawyers seemed to indicate it would be for breach of contract.

The person behind the Twitter account for embattled Haas Formula One sponsor (?) Rich Energy, who…

It’s all been a welcome break from the normally staid, ultra-controlled, brand-friendly nature of F1. But for Haas, and for any normal people who work at the energy drink company, it’s probably a story they want gone as much as Storey himself.

More on this as we get it.

A few minutes after this story was posted, Rich Energy posted this, claiming Storey “sold his majority stake” in the company:

He’ll be back, folks. Cool.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Racing
Race Team Would Rather Create A Fake AI Woman Rather Than Hire A Real One
Race Team Would Rather Create A Fake AI Woman Rather Than Hire A Real One
In another unsurprising example of motorsport’s inhospitable mindset toward hiring competent women, the Racing team has announced a new partnership with Ava Rose, a literal , who will... engage with fans? Share knowledge about technology? “Navigate the cutting edge of innovation to create positive change” (whatever that means)? I...
Jul 15, 2025
After Delivering 8 Seasons At The Back Of The Grid, Haas F1 Team Dumps Guenther Steiner
After Delivering 8 Seasons At The Back Of The Grid, Haas F1 Team Dumps Guenther Steiner
The partially North Carolina-based squad has determined that after , it needs to mix things up a little. The team’s firebrand has been following an abysmal 2023 season which saw the team score just four points-paying finishes. The team’s , where scored a fourth-place finish, but that season too...
Jul 15, 2025
Listen To In-Car Audio From Race Cars While You Work
Listen To In-Car Audio From Race Cars While You Work
If you follow racing in the U.S., you probably already know about the . Most of the episodes are too much of a distraction to put on as background noise while you work, but a couple of recent entries in his series have been working incredibly well for me....
Jul 15, 2025
Local Businesses Want Compensation After Allegedly Losing Money During Formula 1 Las Vegas Grand Prix
Local Businesses Want Compensation After Allegedly Losing Money During Formula 1 Las Vegas Grand Prix
If you listen to Formula 1 or local officials from Las Vegas and Clark County, you’d probably think November’s inaugural Las Vegas Grand Prix was a success. Some sources estimated that the city of Las Vegas made over $1 billion in revenue from the event — but there were...
Jul 15, 2025
Get Ready To Spend All Your Money On Retro Formula 1 Merch
Get Ready To Spend All Your Money On Retro Formula 1 Merch
Fellow nerds, get ready to open your wallets, because I’ve found what may be the greatest store of all time. With designs from Formula 1 teams like , you’re sure to find something that fits your particular nostalgic niche. I’d like to introduce you to Racing Retro. I first...
Jul 15, 2025
You've Probably Never Heard Of The Coolest Canadian Car Ever Built
You've Probably Never Heard Of The Coolest Canadian Car Ever Built
Name a car from the early 1960s built by a famed racing driver with curvy, lightweight aluminum bodywork, a big American engine, and a reputation for being unruly and fast as all hell. Your first thought was probably the famed Shelby Cobra, did you know there was a who...
Jul 15, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved