Fortescue Future Industries has entered into an agreement to buy F1 racing-related Williams Advanced Engineering.
FFI said today the purchase would set the pace for ground-breaking innovation in the green energy space, bringing together leading thinkers and engineers in areas such as high performance battery systems and electrification.
WAE, an offshoot of the Williams F1 team, is a leading technology and engineering business and ‘will bring its race bred critical battery technology to FFI, which will in turn enable Fortescue…to realise its industry leading 2030 net-zero target’.
One of the first major projects to be developed will be a world leading battery electric train concept.
Fortescue founder Dr Andrew Forrest AO said: “Together FFI and WAE will work to decarbonise Fortescue – with the aim of achieving that faster and more effectively than anyone else in the world.”
He said the announcement was the key to unlocking the formula for removing fossil fuel powered machinery and replacing it with zero carbon emission technology, powered by FFI green electricity, green hydrogen and green ammonia.
Picture: Williams Advanced Engineering
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