Latest news with #ITER
Yahoo
a day ago
- Business
- Yahoo
US companies help build 60-foot-tall magnet that could revolutionize energy: 'A major engineering challenge'
Eight suppliers from six states have contributed to an astounding 60-foot-tall superconducting magnet crucial to a fusion experiment in France, according to the Oak Ridge National Laboratory, the agency overseeing the project. U.S. ITER shipped the unit for the central solenoid early this year. It's made of more than 9,000 parts that were developed during a decade of work by numerous companies. It joined other high-tech components at the International Thermonuclear Experimental Reactor, commonly called ITER, in Europe. The machine reportedly cost more than $22 billion, per Euronews. "Designing and manufacturing the first-of-a kind superconducting central solenoid is a major engineering challenge," Oak Ridge senior project engineer David Vandergriff said in a news release. ITER is being built as part of a seven-nation partnership to prove that fusion reactions can be sustained at scale, harnessing the same energy source that powers the sun. The goal is to maintain a reaction for hundreds of seconds, per Oak Ridge. Fission reactions already power 54 plants in the U.S. that produce about 19% of America's electricity, according to government data. But the atom-splitting process results in long-lasting nuclear waste. The byproduct is in the form of ceramic pellets, not green ooze, which is a common misconception. Rare, yet disastrous nuclear accidents are also a risk. Fusion reactions, in comparison, slam atoms together to form a new one, producing energy without lingering radioactive waste. The hurdle has been creating a chamber that produces more power than it takes to make it, per the U.S. Department of Energy. Both forms eliminate heat-trapping air pollution caused by the burning of dirty fossil fuels that increases the risk of severe weather, according to NASA. The extreme storms can cause blackouts, heat waves, and even higher insurance premiums. But activists such as Jane Fonda have been outspoken against efforts to expand fission projects, including the reopening of Three Mile Island in Pennsylvania. The site of an accident decades ago, it's now being tabbed by Microsoft to help power growing data center demand. Colorado-based clean energy think tank RMI co-founder Amory Lovins told The Cool Down that nuclear power is increasingly expensive and slow to develop, touting solar and wind as better options. Abundant, cleaner fusion energy could provide a game-changing answer to fission's problems with the potential to lower utility bills. And it will likely take a worldwide effort to unlock. Experiments are happening in China and elsewhere, as well. U.S. ITER's contribution is crucial to producing the magnetic flux needed to generate and maintain plasma current, according to Oak Ridge. Should we be digging into the ground to find new energy sources? Definitely No way As long as it's not near me As long as it's clean energy Click your choice to see results and speak your mind. The setup must be able to withstand massive force, which is partly why the reactions that involve swirling plasma in an environment heated to hundreds of millions of degrees are so tough to accommodate. The team developed strong support components to bolster the unit during the operational rigors. "At key times, the resultant vertical force on the module stack is up to 60 meganewtons — more than twice the force of a space rocket at blast off," U.S. ITER engineering technical director Kevin Freudenberg said in the release. There are also ways other than fusion to tap sun-related energy. Solar panels capture radiation directly from the sun, converting it to electricity with improved efficiency. You can reduce or eliminate your utility bill with the right setup. EnergySage is a free online tool that can help you leverage available tax breaks and find the best installer, resulting in thousands in savings with cleaner electricity. Palmetto's LightReach is a leasing option that can help you realize solar's cost savings without the upfront expenses, making the tech available to more people. Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
Time of India
a day ago
- Business
- Time of India
Energy supply yet to suffer disruption amid Mideast tensions: South Korea
Seoul: South Korea's energy supply has yet to experience any disturbance from the Israel-Iran conflict , Seoul's industry ministry said on Thursday, noting it is maintaining an emergency mode in response to escalating tensions in the Middle East. The Ministry of Trade, Industry and Energy held an emergency meeting with officials from the local refinery industry to check the supplies and prices of oil and gas and discuss response measures to uncertainties stemming from the Middle East, reports Yonhap news agency. The ministry said Seoul has not received any reports of disruption in imports of oil and liquefied natural gas (LNG), and that all Korean oil tankers and LNG carriers around the affected region are under normal operation. Korea currently has oil reserves that could last approximately 200 days and gas reserves exceeding the legally mandated level, the ministry explained. The government will prepare responses to possible situations that could affect Korea's energy supply, such as closure of the Hormuz Strait, while working to stabilize energy prices, it added. Global oil prices had surged over 20 percent to US$76.70 per barrel as of Wednesday compared with end-May, according to the ministry, after Israel conducted pre-emptive airstrikes on Iranian military and nuclear facilities, and Iran hit back. To cushion the blow, the Seoul government decided earlier this week to extend its fuel tax cuts, originally set to end in June, through August. It also plans to conduct on-site inspections to crack down on the sale of counterfeit petroleum products. "We will do our best to minimize the impact of Middle East tensions on domestic oil and gas supplies and their prices," said Yoon Chang-hyun, director general for resources industry policy at the ministry. Meanwhile, South Korea has won a 52 million-euro ($59.6 million) deal to supply a key component for the construction of an international experimental fusion reactor being built in France, the science ministry here said. A memorandum of understanding (MOU) has been signed to provide power supply systems for the reactor, part of Seoul's continued contribution to the International Thermonuclear Experimental Reactor (ITER) project, according to the Ministry of Science and ICT.
Hans India
2 days ago
- Business
- Hans India
Energy supply yet to suffer disruption amid Mideast tensions: South Korea
Seoul: South Korea's energy supply has yet to experience any disturbance from the Israel-Iran conflict, Seoul's industry ministry said on Thursday, noting it is maintaining an emergency mode in response to escalating tensions in the Middle East. The Ministry of Trade, Industry and Energy held an emergency meeting with officials from the local refinery industry to check the supplies and prices of oil and gas and discuss response measures to uncertainties stemming from the Middle East, reports Yonhap news agency. The ministry said Seoul has not received any reports of disruption in imports of oil and liquefied natural gas (LNG), and that all Korean oil tankers and LNG carriers around the affected region are under normal operation. Korea currently has oil reserves that could last approximately 200 days and gas reserves exceeding the legally mandated level, the ministry explained. The government will prepare responses to possible situations that could affect Korea's energy supply, such as closure of the Hormuz Strait, while working to stabilize energy prices, it added. Global oil prices had surged over 20 percent to US$76.70 per barrel as of Wednesday compared with end-May, according to the ministry, after Israel conducted pre-emptive airstrikes on Iranian military and nuclear facilities, and Iran hit back. To cushion the blow, the Seoul government decided earlier this week to extend its fuel tax cuts, originally set to end in June, through August. It also plans to conduct on-site inspections to crack down on the sale of counterfeit petroleum products. "We will do our best to minimize the impact of Middle East tensions on domestic oil and gas supplies and their prices," said Yoon Chang-hyun, director general for resources industry policy at the ministry. Meanwhile, South Korea has won a 52 million-euro ($59.6 million) deal to supply a key component for the construction of an international experimental fusion reactor being built in France, the science ministry here said. A memorandum of understanding (MOU) has been signed to provide power supply systems for the reactor, part of Seoul's continued contribution to the International Thermonuclear Experimental Reactor (ITER) project, according to the Ministry of Science and ICT.
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Business Standard
4 days ago
- Business
- Business Standard
Inox India share price rises 3% on securing multiple orders worth ₹373 cr
Inox India share price: Cryogenic technology solution provider Inox India share price rose as much as 3.15 per cent to hit an intraday high of ₹1,219.95 per share on Tuesday, June 17, 2025. At 12:10 PM, Inox India share price was trading 0.62 per cent higher at ₹1,189.90 per share. In comparison, BSE Sensex was trading 0.28 per cent lower at 81,567.80 levels. Why did Inox India share price rise in trade today? Inox India share price gained after the company announced that it has secured multiple orders worth ₹373 crore so far in the current financial year, spanning all key business segments—Industrial Gas, Cryo-scientific Solutions, LNG, and Beverage Kegs. The order breakdown includes ₹151 crore in Cryo-scientific Solutions, ₹141 crore in Industrial Gas, and ₹71 crore in the LNG segment. 'These orders reflect continued trust from global and domestic customers in INOX India's advanced cryogenic systems and capabilities,' Inox India said. The company has bagged a 'Major' contract from ITER for repairs to the Cryostat Thermal Shield. It has also received several 'Large' and 'Minor' orders for LNG storage tanks, industrial gas storage tanks, transport tanks, dispensers, and disposable cylinders. Additionally, Inox India secured a 'Minor' order from a German customer for the supply of beverage kegs. The order classification by value includes minor (₹10–30 crore), large (₹30–60 crore), significant (₹60–100 crore), major (₹100–150 crore), and mega (above ₹150 crore). 'These orders reinforce our position as a trusted global partner for critical cryogenic solutions. Besides our growing presence across segments and markets, we are equally excited about the growing applications and use-cases for cryogenic solutions, especially in the clean energy space. The positive impact created by our solutions, inspires us to raise the bar of cryogenic excellence. We remain committed to delivering high-quality and innovative cryogenic equipment to customers worldwide,' said Deepak Acharya, chief executive officer, Inox India. About Inox India Inox India is a global leader in the manufacturing of cryogenic storage, regasification, and distribution systems for LNG, industrial gases, liquid hydrogen, and cryo-scientific applications. With a strong presence across India, Brazil, and Europe, the company serves a vast customer base in over 100 countries. Its robust network of after-sales support associates spans 25 countries, ensuring reliable service and support worldwide. It also plays a pivotal role in advancing India's transition to LNG for industrial and automotive use. The company is recognised for its expertise in design engineering, manufacturing, and delivery of turnkey cryogenic packaged systems.
Business Upturn
4 days ago
- Business
- Business Upturn
INOX India secures multiple orders worth Rs 373 crore across business segments
By Aditya Bhagchandani Published on June 17, 2025, 10:57 IST INOX India Limited, a leading cryogenic technology solutions provider, announced on June 17 that it has secured cumulative orders worth ₹373 crore so far in FY26. The orders span its core segments: Cryo-scientific Solutions, Industrial Gas, LNG, and Beverage Kegs. According to the company's official statement, the order value is distributed as follows: ₹151 crore in the Cryo-scientific Solutions segment ₹141 crore in the Industrial Gas segment ₹71 crore in the LNG segment A significant contract has been awarded by ITER for the repair of the Cryostat Thermal Shield, categorized as a 'Major' order. INOX has also received multiple 'Large' and 'Minor' orders for LNG and industrial gas storage tanks, transport tanks, dispensers, and cylinders. A minor order was also placed from Germany for beverage kegs. CEO Deepak Acharya stated, 'These orders reinforce our position as a trusted global partner for critical cryogenic solutions. With increased applications in clean energy and growing demand across global markets, we remain committed to high-quality and innovative delivery.' The company operates in over 100 countries and is spearheading LNG adoption in India's industrial and automotive sectors. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
