Tokamak Energy, a British nuclear fusion firm, has established a separate division called TE Magnetics to commercialize its superconducting magnet technology in various markets beyond the nuclear industry. The new division will focus on applying high-temperature superconducting (HTS) magnet tech developed for reactors to other sectors, including renewable energy, transportation, and more.
TE Magnetics aims to generate £8 million ($10.5 million) in annual revenues by next year and £300 million ($394 million) by the end of the decade. The company has already won several contracts, although details are not yet being disclosed.
The HTS magnets developed by Tokamak Energy have significant potential applications across various industries. They can create powerful magnetic fields that may drive scientific discoveries, improve medical diagnostics, and contribute to advancements in defense.
Potential propulsion applications include magnetohydrodynamic drives (MHD), which use electric and magnetic fields to accelerate an electrically conductive substance to generate thrust. Ultra-high field (UHF) HTS magnets will also boost performance in areas such as physics research and materials analysis.
The key component of TE Magnetics’ products is a superconductor called rare-earth barium copper oxide (REBCO), which the company describes as a “game-changing material” for making compact, robust, high-field magnets. This technology uses one percent of rare earth materials compared to permanent magnets.
TE Magnetics will offer clients a range of HTS products, from modeling and prototyping through to magnet system development and delivery, including large-scale manufacturing. The company has already partnered with General Atomics in the US and claims agreements with Los Alamos National Laboratory and Oak Ridge National Laboratory stateside.
Source: https://www.theregister.com/2024/09/03/tokamak_energy_magnet_spinoff/