# Fortescue Metals acquires Williams Advanced Engineering for $222.2M

Fortescue Metals Group has agreed to acquire Williams Advanced Engineering (WAE) from EMK Capital and Williams Grand Prix Engineering for $222.2 million (£164 million). The deal aims to help Fortescue decarbonize its mining operations using WAE's battery technology.

- Type: Acquisition
- Announced: 2022-01-24
- Where: Oxfordshire, United Kingdom
- Value: $222.2M
- Status: announced
- Products: battery technology, battery-electric solutions for mining equipment
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Fortescue Metals Group](https://endata.com/companies/5503.md) (acquirer)
- [Williams Advanced Engineering](https://endata.com/companies/45188.md) (target)
- [EMK Capital](https://endata.com/companies/60526.md) (partner)
- [Williams Grand Prix Engineering](https://endata.com/companies/60527.md) (partner)

## Sources

- [bbc.com](https://www.bbc.com/news/business-60106871), 2022-01-24: "This announcement is the key to unlocking the formula for removing fossil-fuel powered machinery and replacing it with zero carbon emission technology."
- [im-mining.com](https://im-mining.com/2022/01/24/fortescue-looks-to-accelerate-and-support-mine-decarbonisation-with-wae-buy/), 2022-01-24: "Fortescue looks to 'accelerate and support' mine decarbonisation with WAE buy"
- [abc.net.au](https://www.abc.net.au/news/2022-01-25/fmg-acquires-williams-advanced-engineering-in-bid-to-cut-diesel/100779862), 2022-01-25: "To achieve carbon neutrality and to eliminate the use of diesel, we will have to replace our mining fleet."
- [miningdigital.com](https://miningdigital.com/supply-chain-and-operations/fortescue-metals-buys-williams-advanced-engineering), 2022-01-26: "This is the race of our lifetimes – the race to save the planet from cooking."
- [railexpress.com.au](https://www.railexpress.com.au/fortescue-races-to-decarbonisation-goals/), 2022-02-02: "Fortescue Metals Group will use a planned acquisition of the battery and technology arm of the Williams Formula One racing team to develop a battery-driven train."

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