Ever since the announcement of GTO Engineering’s Project Moderna, we’ve been eagerly waiting for an update and as it turns out, we just got one.

The UK-based Ferrari specialist and engineering firm has confirmed that the project is now under development, following the very positive feedback from the original announcement. Think of the Project Moderna as a modern take to the legendary Ferrari 250 GTO and you wouldn’t be far from the truth.

Read More: GTO Engineering Teases New Retro-Styled Moderna V12 Sports Car

“After the exceptional reception from interested owners and fans who would like to own a car such as ours, we’re now making it happen and publicly documenting the development process,” said GTO Engineering’s founder Mark Lyon. “For our team, the engine and the aesthetics are two of the most important parts of any car, especially this one, which is why we were keen to start here.”

Project Moderna is going to be powered by a naturally aspirated quad-cam V12 engine, which is currently in the final stages of development, with the car based on a traditional tubular chassis accompanied by lightweight high-strength aluminum subframes. The engine will be paired to a manual transmission, with GTO Engineering targeting a sub-1,000kg weight figure (2,204 lbs).

GTO Engineering is also currently working on the outer body of Project Moderna, finalizing the surfaces before moving to the next stage, modeling.

“To ensure we keep to our goals we’re working around a custom ‘muletto’ chassis, which is situated in the GTO Engineering workshops,” adds Lyon. “It’s a daily reminder of how we need to not only keep the design’s proportions right, as well as weight distribution and ergonomics. People have got a little taller since the Sixties, so we’re looking at the packaging with the design too, ensuring that the driver and passenger have enough room in the cabin and ample luggage space in the car.”

GTO Engineering has now formally opened its order books for Project Moderna and invites interested parties to contact them for what is going to be one of the most exciting cars out there.