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Formula 4 star Olli Caldwell is to remain with Prema Powerteam to contest the new Formula Regional European Championship.

The 16-year old British driver finished third in the Italian Formula 4 Championship with Prema last year - his first full season in car racing - and is the first to be named by the squad for the new Italian-run FRegional.

It is the first European series run to the FIA's Regional F3 regulations.

He is expected to be joined in what will be a three-car line-up at Prema by reigning Italian F4 champion Enzo Fittipaldi, who has already been confirmed by the Ferrari Driver Academy as racing in FRegional, but is yet to be named by the team.

Prema patriarch and founder Angelo Rosin said: "We are looking forward to the coming season and having Olli with us again will provide us with the stability we need to face a brand-new challenge in the Formula Regional European Championship.

"He really surprised us in 2018 in terms of speed and consistency, which is definitely what we need this year too.

"We hope to see him carry that consistency and momentum into the season ahead in order to be highly competitive right from the start."

After a slow start, the FRegional field is beginning to take shape, with top German F4 team US Racing team stepping up to compete in the category.

The US team of former Mercedes DTM boss Gerhard Ungar and ex-Formula 1 racer Ralf Schumacher is almost certain to run Schumacher's son David, who has been competing in Tatuus-Alfa Romeo Regional F3 machinery in the Asian Winter Series.

Finnish squad KIC Motorsport graduates to this level with Konsta Lappalainen, the driver it ran to the 2018 NEZ F4 title, along with Swede Isac Blomqvist, who was a frontrunner in the same series.

Italian F4 team DR Formula has entered a collaboration with Euroformula Open giant RP Motorsport and will run Mexican Raul Guzman, who competed in the Formula Renault Eurocup in 2017 and 2018.

Ex-Italian F3 team Corbetta Competizione joins forces with Scuderia DF Corse.

The French Mas du Clos team will run GT4 graduate Alexandre Bardinon, whose father Patrick raced in F2 and F3 in the 1970s.