WAE will remain a strongly independent company to accelerate its growth, while its leading industry battery technology division will be closely coordinated with Fortescue. Both will be managed by Fortescue’s green energy, technology, and development company Fortescue Future Industries (FFI).
To mark the purchase at the Oxfordshire site, WAE and Fortescue announced the development of a US$50m world first, zero emission “Infinity Train”. The regenerating battery electric iron ore train project will use gravitational energy to fully recharge its battery electric systems without any additional charging requirements for the return trip to reload.
Fortescue founder and chairman, Dr Andrew Forrest AO, said, “The Infinity Train will not only accelerate Fortescue’s race to reach net zero emissions by 2030, but also lower our operating costs, create maintenance efficiencies and productivity opportunities.”
The Infinity Train will join Fortescue’s green fleet under development and will contribute to Fortescue becoming a major player in the growing global market for green industrial transport equipment.
“The commercial opportunities are obvious for FFI as it pioneers this technology, captures its value and distributes it globally. Less obvious, is that we have an opportunity to not only lower our operating costs, eliminate the cost of diesel from our company but of course eliminate our rail system carbon emissions,” Dr Forrest continued.
“The Infinity Train continues FFI’s inexorable march to change the world’s attitude to energy generation. To move business leaders and politicians globally to the realization that fossil fuel is just one source of energy and there are others now, like gravitational energy, rapidly emerging, which are more efficient, lower cost and green. The world must, and clearly can, move on from its highly polluting, deadly if not stopped epoch of fossil fuel,” Dr Forrest said.
Fortescue’s current rail operations include 54 operating locomotives that haul 16 train sets, together with other on-track mobile equipment. Each train set is about 2.8 km in length and has the capacity to haul 34,404 tons of iron ore in 244 ore cars.
Fortescue’s rail operations consumed 82 million liters of diesel in financial year 2021 accounting for 11% of Fortescue’s Scope 1 emissions. This diesel consumption and associated emissions will be eliminated once the Infinity Train is fully implemented across Fortescue’s operations, significantly contributing to Fortescue’s target to be diesel free by 2030.
Fortescue’s studies and development costs for the Infinity Train are expected to be US$50m over the next two years and will be classified as operating cost efficiencies, with the studies to refine the capital estimate and schedule. The technology, to be jointly developed by Fortescue and WAE, will address the reduction in emissions in the hard to abate heavy industry sector with significant opportunities for this technology to be commercialized on a global basis.
Fortescue CEO, Elizabeth Gaines said, “The Infinity Train has the capacity to be the world’s most efficient battery electric locomotive. The regeneration of electricity on the downhill loaded sections will remove the need for the installation of renewable energy generation and recharging infrastructure, making it a capital efficient solution for eliminating diesel and emissions from our rail operations.”
WAE CEO, Craig Wilson added, “High performance battery and electrification systems are at the core of what we do and now that we are part of the Fortescue family, this presents an exciting opportunity to develop new technologies as we work together to tackle climate change.”