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Ilmor first ventured into the marine market in 2002 by building a V-8 for the APBA SuperCat Series.
The joint venture is to produce an Ilmor designed and developed Viper Motorcycle 152 cubic inch V-Twin engine.
The Oxfordshire-based Ilmor team will join the rest of the MotoGP riders for the first time in a three-day test session that starts at Sepang tomorrow
But McWilliams is determined to make the most of his chance with the Northampton-based Ilmor team alongside Australian team-mate Andrew Pitt.
In the 1980s, another firm emerged on the scene that, like the original Cosworth, really made its name from its development of racing engines: Ilmor Engineering.
Silverstone is in Northamptonshire and so are major companies like Cosworth Ford and Ilmor Mercedes.
American Honda, which is leaving the IRL rival league CART this season, said it will initially work with Ilmor Engineering -- the British firm known for designing F1 engines for the Mercedes racing team -- to develop and produce Honda engines for Indy 500 races.
Mr Morgan was co-founder of the Ilmor Engineering firm which builds Mercedes' Formula 1 engines.
The set-up is reminiscent of the pushrod Mercedes-Benz Indy car V-8 developed with Ilmor and campaigned by Team Penske in the 1990s.
Anglo Holt, the main contractor of Ilmor Engineering's new restaurant in Northampton, has been the first company to test-drive ACO Fulbora's new stainless steel kitchen channel.
"Marelli's technology is beyond what other CART teams are racing with, and we feel it gives us an advantage" says Paul Ray, vice president of Ilmor Engineering, the race-engine design and manufacturing arm of Mercedes-Benz.
McLaren went through a similar process with Ilmor Engineering (a Mercedes partner), its engine supplier this year.