PITTSBURGH, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE: COHR), a leader in industrial lasers, and Faraday 1867 Holdings LLC today announced that they signed a letter of intent (LOI) outlining their partnership, with the objective of scaling up manufacturing of high-temperature superconducting (HTS) tape to enable mass deployment of nuclear fusion reactors and support the green energy transition.
The prospect of carbon-free energy has accelerated the development of tokamaks over the last decade, driving the demand for HTS tape, the technology at the heart of the extremely strong electromagnets used to confine plasma in magnetic-confinement fusion reactors. Coherent LEAP excimer lasers are the industry standard in pulsed laser deposition that enable the manufacturing of HTS tape. Faraday 1867 Holdings LLC is the world’s leading producer of HTS tape through its subsidiary, Faraday Factory Japan LLC. The LOI outlines a strategy to increase manufacturing capacity at Faraday’s factory in Japan with excimer lasers from Coherent, to meet the global demand for HTS tape that is expected to grow by a factor of ten by 2027.
“We understand that countries in the nuclear fusion energy race are looking to ramp up sustainable supply chains of HTS tape on the order of thousands of kilometers per year to keep fusion technology development on a fast track,” said Dr. Kai Schmidt, Senior Vice President, Excimer Laser Business Unit at Coherent. “We have been partners with Faraday 1867 for more than ten years, and we are eager to supply the lasers that will support the production ramp-up phase of HTS tape.”
“Thanks to our collaboration with Coherent, our HTS tape is already designed into some of the most advanced magnetic-confined fusion devices in the world that continue to achieve breakthroughs on the path to clean and abundant fusion energy,” said Dr. Sergey Lee, Representative Director of Faraday Factory Japan. “Applications for HTS tape go beyond fusion reactors: They include loss-less energy transmission, zero-carbon aviation and container ships, helium-free MRI systems, advanced propulsion for spaceships, and many more. Combined, these applications are driving the double-digit annual percentage growth of the market for HTS tape, which is increasing the urgency to invest in HTS tape manufacturing capacity.”
HTS tape is one of the key technologies that enable magnetic-confinement fusion reactors like tokamaks, which have much simpler designs, are more compact, and have lower operating costs than previous technologies. HTS tape can operate at temperatures of tens of Kelvins, which eliminates the need for costly cooling systems based on non-sustainable liquid helium technology. Magnetic-confinement fusion reactors are expected to eventually be capable of producing gigawatts of carbon-free power with a net gain of greater than ten and could therefore play a game-changing role in the global transition to green energy.
About Coherent
Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems. We deliver innovations that resonate with our customers in diversified applications for the industrial, communications, electronics, and instrumentation markets. Headquartered in Saxonburg, Pennsylvania, Coherent has research and development, manufacturing, sales, service, and distribution facilities worldwide. For more information, please visit us at coherent.com.
About Faraday 1867 Holdings LLC
Faraday 1867 Holdings LLC is the largest producer of high-temperature superconductor (HTS) tape worldwide. Since its foundation in 2011, its subsidiary Faraday Factory Japan LLC has developed a successful PLD-based technological path, which is operating 24/7 for the last several years. The company made the 2021 and 2022 Financial Times Awards and Nikkei Top-500 rankings for high-growth companies in Asia-Pacific. Faraday 1867 Holdings LLC plans to multiply its production capacity in order to address the rapidly growing demand in fusion, grid, wind power, and other zero-carbon technology markets. For more information, please visit us at faradaygroup.com.
Contact
Mark Lourie
Vice President, Corporate Communications, Coherent Corp.
corporate.communications@coherent.com
Sergey Samoilenkov
CEO, Faraday 1867 Holdings LLC
ssv@faradaygroup.com
