HTS is looking to superconducting magnet applications that also include, NGEM solutions. NGEMs will play an instrumental role in the future competitiveness of electrical grids, industrial manufacturing, and many other applications that utilize industrial-scale devices in excess of 5000 horsepower. By offering unprecedented improvements in motor and generator efficiency, NGEMs will provide a solution that addresses the current limitations of conventional technologies. NGEMs are expected to significantly improve the efficiency of industrial electric motors, which use approximately 70% of the electricity consumed by U.S. manufacturers and nearly a quarter of all electricity consumed nationally, according to the Department of Energy (DOE). By utilizing these highly efficient NGEMs, industrial power consumers will benefit from a substantially reduced power infrastructure footprint independent of utility grid build-out projects. The projected cost savings from this greatly improved efficiency last for decades and can easily justify the initial CAPEX of these NGEMs.
The key enabling technology for NGEMs is a superconducting wire that can handle very high electrical currents in the presence of a magnetic field such as our high-performance magnet wire. An NGEM is an energy storage device at a solar plant, which could be activated at night to provide accumulated power to the grid.