Williams Advanced Engineering (WAE) is being acquired by Fortescue Metals Group (FMG) with the transaction expected to conclude by the end of March 2022. FMG will acquire the stakes currently owned by EMK Capital and Williams Grand Prix Engineering. 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.
FMG ownership will enable the company to take the next steps in expansion, providing long term financial security and investment growth plans; enabling WAE to capitalise on existing competencies deployed in the motorsport and automotive sectors by entering and accelerating new sectors looking to decarbonise by using electrification and green energy.
WAE remain firmly committed to servicing its existing clients and projects including Foresight Williams Technology Funds and portfolio companies. The day-to-day management team will remain unchanged under Craig Wilson's leadership as CEO and Matthew Burke as Head of Technology Ventures.
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