His maiden start will come at Timmis Speedway in Mildura, where the 26-year-old was born, with around 10 events on the cards this year.
The 2020 Bathurst 1000 pole-sitter will drive for Colin McQuinn's Chief Racing team in a Maxim chassis recently acquired from the McFadden family.
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However, he is conscious of the challenge that competing in the 800-horsepower sprint car represents.
“I'm not underestimating the task ahead one bit and my first run in the car last Sunday was a real eye-opener, despite having had some previous Speedway experience,” said Waters.
“Colin has been wanting to field an entry in Sprint Cars for some time and he has put together a very sound program with quality equipment and experienced personnel, but we know we're the newbies and expect it to be very tough going this weekend.
“We're planning to contest around 10 events this year with a view to a bigger program for 2021/22 and to be making my debut on home soil is actually pretty cool.
“The track has recently been heavily re-profiled and I'm sure it will provide great racing for the 29-strong Sprint Car field.
“While this year's Supercars program remains my absolute point of focus, I will be giving it my all when behind the wheel of my VIC #6, and have to thank Tickford Racing's team boss Tim Edwards for supporting me with my Sprint Car pursuits.
“Tim has been enthusiastic from the very outset and said he would even happily jump on the tools at some stage, which is great.
“I'm so thankful to Colin for giving me this incredible opportunity and also crew chief Lindsay Trotter, who brings a wealth of experienced to the team – both on and off track – while the McFaddens have also been a great with putting the car together and helping make this happen.”
He will once again drive a Tickford Mustang this coming season.