Should he carry his 2020 form into the new season, and buoyed by a positive shakedown, Waters is looking to bigger things in the new season.
"It's awesome to have the support of Monster Energy for a sixth season," he said.
"They've been massive supporters of my career, as have Enzed, Castrol, McQuinn Electrical, and others, so it's great to have their continued support and also have a number of new partners join the team.
"It's the toughest looking car on the grid, and by the end of last year it was one of the fastest, so we're definitely looking to pick up where we left off in 2020.
"We shook down the new chassis just before Christmas and it ran perfectly, so hopefully that's a sign of things to come and we can build on the momentum we finished last season with."
The car will be on track at the official pre-season test day at Winton Motor Raceway on February 16.