Australia- Fortescue Metals Group aims to buy an engineering and battery company founded by Williams Formula 1 team. The acquisition is for decarbonisation, and it cost 164 million pounds ($222.2 million).
The company said it’s been working with Williams Advanced Engineering Ltd (WAE) since 2021. They both have been working on a prototype battery to power an electric haul track. Furthermore, an announcement regarding the electric train project will be soon for the coming year.
Fortescue
Fortescue Metals Company is an Australian Iron ore Company. It is the fourth largest iron ore producer in the world. Moreover, It is founded by John Andrew Henry the richest Australian man. Andrew is looking forward to changing his mining firm into one of the World’s biggest green energy companies. Therefore, with the production of the electric battery, the company will be able to cut the use of Diesel in its rail and heavy mining equipment.
Furthermore, Andrew Forrest said in a statement, ‘’ this announcement is the key to unlocking the formula for removing fossil-fuel-powered machinery and replacing it with zero carbon emission technology.’’ Andrew is famous for investing in sustainable energy projects.
WAE’s battery Technology
According to sources, WAE’s battery technology will be use to power its freight trains, heavy industrial equipment and haulage trucks. Likewise, Williams Formula 1 is the world’s leading technology and engineering business set by the Williams Grand Prix team in 2010. It was set up to develop low carbon technology for use.
Meanwhile, in a talk with BBC, president of International Automobile Federation (FIA) formula one motor racing Jean Todt said that it will be not possible for the sport to go electric for decades, ‘’ it’s simply not possible.’’
Moreover, ‘’ in formula one, a race distance is about 200 miles (305km). Further, without recharging, with the performance of the cars, electricity will not allow that.
‘’Maybe in 20 years, 30 years, I don’t know. But at the moment it would be simply impossible.’’