Founded in 2010 as part of the Formula 1 motorsports business Williams Grand Prix Engineering, today WAE is a technology and engineering services business. The company provides world class technical innovation, engineering, testing and manufacturing services to deliver energy efficient performance to customers. Its core capabilities are in new materials, electrification and advanced battery technology, aerodynamics and thermodynamics, business performance and specialist low volume manufacturing applied across all sectors, in particular automotive, motorsport, aerospace, defence and mining.

Fortescue is an Australia based mining company with a market capitalization of AUD 66 billion. Established in 2003, with mining hubs and haulage infrastructure based in Western Australia, Fortescue is one of the world’s largest producers of iron ore. In addition to ongoing investments in renewable energy to power its iron ore operations, Fortescue is also undertaking a range of initiatives to replace its mobile diesel fleet by using hydrogen energy and electric battery solutions. Through Fortescue Future Industries (FFI), its renewable energy and technology division, Fortescue is establishing a global portfolio of green hydrogen operations.

The acquisition of WAE provides critical technology and expertise in high-performance battery systems and electrification to support the decarbonisation of Fortescue’s mining operations. Together, Fortescue and WAE will develop electric battery solutions for Fortescue’s rail, mobile haul fleet and other heavy mining equipment to accelerate the achievement of Fortescue’s environmental targets, in addition to growing WAE’s world-leading technology and engineering business. 

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