An Australian mining company has announced its purchasing of a UK-based Formula One technology company to help decarbonize its operations by 2030.
Australian mining company Fortescue Metals Group has acquired Williams Advanced Engineering Limited (WAE), a leading provider of high-performance battery and electrification, for £164mn.
Fortescue says the acquisition of WAE will provide critical technology and expertise in high-performance battery systems and electrification, as well as work to accelerate and support the decarbonization of its mining operations.
WAE say they will develop battery electric solutions for Fortescue’s rail, mobile haul fleet, and other heavy mining equipment. This is expected to accelerate the rapid abatement of diesel usage to achieve the decarbonization of Fortescue’s mining operations by 2030.
One of the first major projects to be developed through the new partnership will be a world leading battery electric train concept.
WAE say they will bring speed, precision and cutting-edge technology from the racetrack to heavy industry. In turn, Fortescue insist they will support the development and manufacturing of battery electric and hydrogen fuel cell power units with the goal of WAE becoming a major player in the growing global market for heavy mobile equipment and rail.
Fortescue has worked closely with WAE since early 2021 to design and build a prototype battery system to power an electric mining haul truck, an important first step in the decarbonization of Fortescue’s mining haul fleet.
“This is a major milestone in the future of our company as we welcome WAE to the Fortescue family,” said Dr Andrew Forrest, Founder and Chairman of Fortescue.
“Fortescue and WAE will work together to decarbonise Fortescue – and in turn the global heavy industry – for the good of our planet, and the benefit of our shareholders.’
“Today’s announcement builds on our commitment to remove fossil fuel powered machinery from our operations and to replace it with zero carbon emission technology, powered by Fortescue green electricity, green hydrogen and green ammonia.”
