World Touring Car Championship squad Bamboo Engineering will enter the GP3 Series this year after taking over the Atech CRS squad.
The team was formed by Richard Coleman midway through 2009 out of the ashes of Tempus Sport, and has competed in British and World Touring Cars since.
"We're thrilled to be competing in one of the world's finest single-seater formulas," Coleman said. "Bamboo Engineering will be looking to make its mark and carve a strong reputation. We can't wait to make a real impact on our first season in the GP3 Series, with our racing pedigree we're well prepared to show just what Bamboo Engineering can do."
Jonny Ostrowski, who has worked for both McLaren and HRT in Formula 1, and ran both the Ultimate-Signature and Mofaz Formula Renault 3.5 teams, has been recruited to oversee the program.
"I'm enjoying my new role at Bamboo and working with the boys in the GP3 team. I'm really looking forward to testing next week in Estoril and all the challenges that lie ahead in such a good series as GP3."