Magnifye is developing the technology to produce the strongest permanent magnets in the world with a one-inch magnet able to lift a lorry.
These magnets can be used for anything from trains to MRI machines and because of the size of the magnet make it possible to shrink these large scale industrial applications.
Using rare earth superconductors Magnifye's technology enables these to be magnetised to fields orders of magnitude greater than that available from ordinary permanent magnet materials such as NdFeB and SmCo.
Magnifye has developed a heat engine which converts thermal energy into currents of millions of amps. The thermal energy is used to create a series of magnetic waves which progressively magnetise the superconductor much in the same way a nail can be magnetised by stroking it over a magnet.
As long as the superconductor stays cold, the currents will flow uninterrupted, providing powerful, stable, shapeable magnetic fields for a wide range of applications.
These powerful magnets can be small enough to fit in the palm of the hand and large enough to power a train or a cruise liner.