Williams Advanced Engineering, the engineering company founded by Williams F1 Team, will be acquired by Australian mining company Fortescue for £164 million.
Fortescue wants to decarbonise its operations and fleet and it aims to use WAE’s battery tech and technical know-how to reduce its carbon footprint. The Perth-based company has made the acquisition through from private-equity firm EMK Capital and Williams Grand Prix Engineering Ltd after which WAE will be managed by Fortescue Future Industries, Fortescue’s green arm.
Currently, the mining company’s fleet uses 400-450 million litres of diesel per year. With the WAE, Fortescue is looking to achieve its 2030 net-zero target.
Along with the takeover, Williams Advanced Engineering and Fortescue announced world’s first zero emission “Infinity Train”. We’re told that this train will use gravitational energy to recharge its battery electric systems without any additional charging requirements for the return trip to reload. WOW
Fortescue Founder and Chairman, Dr Andrew Forrest AO, said “The Infinity Train will not only accelerate Fortescue’s race to reach net zero emissions by 2030, but also lower our operating costs, create maintenance efficiencies and productivity opportunities. “
WAE Chief Executive Officer, Craig Wilson said, “High performance battery and electrification systems are at the core of what we do and now that we are part of the Fortescue family, this presents an exciting opportunity to develop new technologies as we work together to tackle climate change.”
