Williams F1 gets major boost from huge Australian investments ahead of 2022 season
![Williams F1 gets major boost from huge Australian investments ahead of 2022 season](https://media.firstsportz.com/wp-content/uploads/2021/12/21024030/Adobe_Post_20211211_1610230.jpg)
Williams
Fortescue Metals, the mining giant founded by Australia’s richest man, Andrew Forrest is all set to bring in zero carbon emission technology into the F1 World. The first step taken by Andrew Forrest and Fortescue Metal company is in buying Williams advanced engineering, a UK based firm from EMK Capital and Williams Grand Prix Engineering which is a private equity firm. The deal between the mining giant and the equity firm is reported to be settled at $222.2m (£164m).
The aim of this deal is to help achieve the target of carbon neutrality of iron ore producers by 2030, starting with the development of battery trains. The Perth-based miner will use Oxford-shire based Williams Advanced Engineering(WAE) battery technology in their first ever battery train project to power its haulage trucks, freight train and heavy industrial equipment.
Since last year, Fortescue has said to be developing a prototype battery for heavy industrial use aiming to be one of the World’s leading clean energy producers. This project is by far one of the highest investments by Fortescue metals by buying the UK based firm. Mr Forrest is known for investing in sustainable projects before and has shown his confidence in removing fossil fuel powered technology.
Williams F1 and the hefty investment ahead of 2022 season
![](https://media.firstsportz.com/wp-content/uploads/2020/08/26194247/williams_f1.jpg)
Williams Advanced Engineering was set up in 2010 by the Williams grand prix team to develop low carbon technology for vehicles with EMK Capital being the major stakeholder in the business, two years ago. Jean Todt, President of the International Automobile Federation (FIA) in an interview with BBC said that at the moment, it is simply impossible for the cars to run 200 miles with the same performance without recharging and might take another 20 to 30 years for the technology to arrive, showing his disapproval.
Other investments and opportunities in the sector
![Alex Albon](https://media.firstsportz.com/wp-content/uploads/2021/12/20194931/CC_Express_20211226_2226230-1024x576.jpg)
Government funding was secured by a firm for its proposed factory in Northumberland for mass production of electric car batteries. Britishvolt announced plans for a giga-factory in Cambois two years ago with the backing from investors like Tritax and Abrdn, unlocking about £1.7bn in private funding which would create 3,000 job opportunities.
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Mitali H Shah
(113 Articles Published)