Fortescue acquires Williams F1 battery arm

Williams F1 car on racetrack
Image: Shutterstock

Fortescue Metals has announced it will buy the battery and technology arm of the Williams Formula One racing team for $222.2 million.

Related article: Fortescue to sell green hydrogen to Germany

The mining giant will purchase UK-based Williams Advanced Engineering from private equity firm EMK Capital and Williams Grand Prix Engineering.

The deal is aimed to help the iron ore producer achieve its target to be carbon neutral by 2030, with a battery train slated as one of the first projects to be developed.

“This announcement is the key to unlocking the formula for removing fossil-fuel powered machinery and replacing it with zero carbon emission technology,” Fortescue founder and chairman Andrew Forrest said.

The deal will see Williams Advanced Engineering (WAE) integrated into the Fortescue’s clean energy unit, with Williams’ battery technology set to power its freight trains, heavy industrial equipment and haulage trucks.

Related article: Fortescue designs and builds its own electrolyser

Fortescue has been developing a prototype battery for heavy industrial use since early 2021. With its net-zero goal, Forrest aims to transform iron ore producer into one of the world’s leading clean energy producers.

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