Brit nuclear fusion firm Tokamak Energy has formed a separate division to commercialize the superconducting magnet tech it developed for reactors in other markets including renewable energy or transport.
The Oxfordshire-based company last year teamed up with General Atomics in the US to work on high temperature superconducting magnets for fusion reactors, and also claims to have agreements with Los Alamos National Laboratory and Oak Ridge National Laboratory stateside.
Tokamak has now formed a separate business division called TE Magnetics to hone in on commercial applications of the high temperature superconducting (HTS) magnet tech it has developed for the nuclear industry.
TE Magnetics is to continue as a wholly owned subsidiary of Tokamak Energy for now, but it is possible the parent may spin off the division at some point in the future.
A spokesperson told The Reg its magnets business has operated as a separate unit for most of 2024, but the new name TE Magnetics was confirmed today. We’re further informed the division has won several contracts to date that have grown in scale, however, the company is not yet divulging details.
The target for TE Magnetics is to generate £8 million ($10.5 million) in annual revenues next year and £300 million ($394 million) by the end of the decade.
HTS magnets can create powerful magnetic fields that are expected to prove useful across a wide range of applications. They may even drive scientific discoveries, improve medical diagnostics, and contribute to advancements in the defense industry.
The company wants to create new markets for magnet technologies over the next decade, including renewable energy, science, as well as land, water, air and space propulsion.
Potential propulsion applications include magnetohydrodynamic drive (MHD) – a form of propulsion beloved of science-fiction writers that uses electric and magnetic fields to accelerate an electrically conductive substance to generate thrust.
Ultra-high field (UHF) HTS magnet technology is designed the boost performance in areas such as physics research and materials analysis.
At the root of the products is a superconductor called rare-earth barium copper oxide (REBCO), which TE Magnetics describes as a “game-changing material” for making compact, robust, high field magnets.
REBCO is made using a small amount of rare earth materials in a thin film deposition process, and the magnets themselves are made by winding HTS tapes, which are multi-layered conductors comprising mostly conductive metals with a thin internal coating of REBCO superconducting material. This uses one percent of the rare earth material compared with permanent magnets, we’re told.
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 says. ®
