WAE will be vertically integrated into Fortescue’s diversified resources and green energy business and will be managed via Fortescue Future Industries (FFI), Fortescue’s green energy and green technology division.
Fortescue has worked closely with WAE since early 2021 to design and build a prototype battery system to power an electric mining haul truck, an important first step in the decarbonisation of Fortescue’s mining haul fleet.”
Fortescue Metals Group aims to decarbonize by 2030. This will be achieved by developing battery electric solutions to replace diesel for rail, mobile haul fleet, and other heavy mining equipment. WAE is seen as providing technology critical to the rapid transition. Fortescue Founder and Chairman Andrew Forrest AO said: “This is a major milestone in the future of our Company as we welcome WAE to the Fortescue family. FFI and WAE will work together to decarbonise Fortescue — and in turn the global heavy industry and hard to abate sectors — for the good of our planet, and the benefit of our shareholders.
The focus will be in the off-highway sector, with a genuine commitment to creating a sustainable future faster and more effectively than anyone else in the world. One of the first major projects to be developed will be a world-leading battery electric train concept, bringing green energy to Fortescue’s 3 km long freight trains. Fortescue and FFI will announce further details on this soon.
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