F1: Firm owned by Australia’s richest man buys Williams F1 battery arm
Fortescue Metals is buying the battery and technology arm of the Williams Formula One racing team for $222.2m.
Williams Advanced Engineering (WAE) is an offshoot of the legendary Williams Formula 1 team .
Founded by Australia’s richest man, mining giant Fortescue Metals 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.
One of the first projects to be developed will be a battery train.
“This announcement is the key to unlocking the formula for removing fossil-fuel powered machinery and replacing it with zero carbon emission technology,” Fortescue’s founder and chairman, Andrew Forrest, said in a statement.
Mr Forrest, who has an estimated net worth of more than $18bn (£13.3bn), is known for investing in sustainable energy projects.
Under the deal, Oxfordshire-based Williams Advanced Engineering (WAE) will be integrated into the Fortescue’s clean energy unit.
The Perth-based miner said it plans to use WAE’s battery technology to power its freight trains, heavy industrial equipment and haulage trucks.
Williams racing announces partnership with that’s it™ as official supplier
Williams Racing is pleased to announce a multi-year partnership with that’s it™, a manufacturer of innovative hygiene products and technologies, as an official supplier.
Based in Germany, that’s it™ has developed two coating technologies which seal and protect against germs and enveloped viruses, including COVID-19 on surfaces and for the indoor air.
Italian Grand Prix, Saturday 11th September 2021. Monza Italy.
The two-year partnership will see all surfaces and rooms, at Williams Racing’s headquarters in Grove, the motorhome and hospitality areas on track, coated in that’s it ™ products to prevent the spread of germs and viruses and protect the team and guests.
Jost Capito, CEO of Williams Racing said: “I’m excited to announce this partnership with that’s it™ and for Williams Racing to lead the way in hygiene strategy in the sport. The safety of our employees and guests, both trackside and at the factory, is a key priority for us and, with that’s it ™, we will be able provide the highest form of protection against bacteria and viruses.”
Andreas Schaetzke, Founder & CEO: “We are very pleased and honored to support Williams Racing with our coating technologies. For that’s it™ we follow the major target to establish a new hygienic standard which challenges the two most important hygiene ‘pain-points’ for the air and surfaces for everyone today. Safety and sustainability are two important USPs of our disruptive solution.”
All the Williams Racing facilities coated with the products will display a that’s it ™ seal of protection.