Major Boost for Williams as Australia’s Richest Man Announces $222.2M Investment

Williams Racing endured one of the most horrible phases of their massive stint in Formula One after the British outfit hit a shallow point in terms of competitiveness during the mid-V6-era.

They were nowhere near the rest of the grid for over a couple of seasons, and with late Sir Frank Williams and his daughter, Claire Williams, losing grip on their financial strength, a change was imminent. Eventually, as heartbreaking as it was, the Williams family had to sell their outfit to watch it survive another day in F1.

This led to Dorilton Capitals, a private investment firm based in the United States, taking over the functioning of the world-class racing outfit. A blessing in disguise we’d reckon! Since then, things have been quite positive for Williams, as the team continue to ramp up their level of performance.

Amid such a positive trend in recent times, here’s another major development surrounding Williams. Australia’s richest man, Andrew Forrest, has set his sights on Formula One by buying into the battery and technology arm of Williams from EMK Capital and Williams Grand Prix Racing.

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Major boost for Williams amid poor F1 stint

Forrest, who currently owns Fortescue Metals, is quite known for buying into sustainable projects which explains why he made the Williams F1 purchase. As reported by BBC, Forrest opened up about his motive behind the F1 move which is to reach 100% carbon neutrality by the year 2030.

“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 decarbonize 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.

“Today’s announcement builds on our commitment to remove fossil-fuel-powered machinery from our operations and to replace it with zero carbon emission technology, powered by FFI green electricity, green hydrogen, and green ammonia,” the statement read.

Overall, the Grove-based outfit are certainly beginning to attract a lot of attention after years of struggles. Hence, now that they have cherished two major boosts in a span of two years, are fortunes going to take a turn for the British outfit?

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