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Fortescue to Acquire WAE to Boost Green Energy

This acquisition brings together leading thinkers and engineers into one organization to drive progress and combat climate change, enabling Fortescue to become a major player in the growing global market for green industrial transport equipment.

Fortescue Future Industries (FFI) and Williams Advanced Engineering (WAE) have decided to bring forth ground-breaking innovation in the green energy space, as Fortescue Metals Group (FMG) agrees to acquire the UK-based WAE.

Fortescue WAEThis acquisition brings together leading thinkers and engineers into one organization to drive progress and combat climate change, enabling Fortescue to become a major player in the growing global market for green industrial transport equipment.

Fortescue Founder and Chairman, Andrew Forrest AO said, “This is the race of our lifetimes – the race to save the planet from cooking. The speed at which we move matters. Together FFI and WAE will work to decarbonize Fortescue – to achieve that faster and more effectively than anyone else in the world”.

“This is a historic moment in the future of our company as we welcome the WAE family into the Fortescue family to work together to decarbonize heavy industry and hard to abate sectors for the good of our planet, and the benefit of our shareholders

“This announcement is 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,” Forrest said.

“For decades, Sir Frank Williams’ F1 racing business was at the forefront of innovation in engineering and I thank him for his pioneering vision in founding WAE over a decade ago. I was sorry to hear of his passing last year and I pay tribute to him. I have huge respect for him, his family and the Williams’ business,” Forrest said.

Fortescue Chief Executive Officer, Elizabeth Gaines said, “Fortescue and WAE share strong cultural alignment with a focus on technology and innovation to support carbon neutrality, both companies being leaders in their respective industries”.

“We look forward to working together to apply this technology-first strategy to our emissions reduction pathway while also empowering the highly capable WAE team to achieve growth opportunities in new products, services and markets.

“We have been working with WAE since early 2021, with WAE designing and building a battery system to power an electric mining haul truck; an important first step in the decarbonization of Fortescue’s mining haul fleet. WAE’s expertise in battery systems and electrification further complements FFI’s green hydrogen projects for haul trucks and mobile fleet to underpin our technical leadership,”

Together FFI and WAE will work to help achieve the goal to make zero-emissions energy available at an industrial, global scale as we become the world’s best, fully renewable energy and green products company.

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Aishwarya Saxena

A book geek, with creative mind, an electronics degree, and zealous for writing.Creativity is the one thing in her opinion which drove her to enter into editing field. Allured towards south Indian cuisine and culture, love to discover new cultures and their customs. Relishes in discovering new music genres.

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