# Fortescue Future Industries buys Williams Advanced Engineering for A$310 million

Fortescue Future Industries, a subsidiary of Fortescue Metals, acquired Williams Advanced Engineering (WAE) for A$310 million. The deal aims to develop advanced battery storage systems and electrify heavy transport.

- Type: Acquisition
- Announced: 2022-01-24
- Value: $220.0M (310.0M AUD)
- Status: completed
- Products: battery storage systems, heavy haul truck electrification, fuel cell haul trucks
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Williams Advanced Engineering](https://endata.com/companies/45188.md) (target)
- [Fortescue Future Industries](https://endata.com/companies/58294.md) (acquirer)

## Sources

- [reneweconomy.com.au](https://reneweconomy.com.au/fortescue-buys-williams-engineering-in-major-push-into-battery-storage/), 2022-01-23: "Fortescue Future Industries has made its first major push into battery storage and high performance batteries with the $A310 million purchase of Williams Advanced Engineering."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.