News

Jun 04, 2025

Faraday Factory Has Started Delivery of Superconductor Tapes for 200,000 Ampere Busbar to be installed at Aluminum Smelter Plant in Hamburg, Germany

Business The world's largest industrial superconducting busbar project with the 200,000 Ampere capacity is led by Vision Electric Super Conductors GmbH TOKYO, June 4, 2025 /PRNewswire/ -- Faraday

Business

The world's largest industrial superconducting busbar project with the 200,000 Ampere capacity is led by Vision Electric Super Conductors GmbH

TOKYO, June 4, 2025 /PRNewswire/ -- Faraday Factory Japan LLC has started supplying high-temperature superconductor (HTS) tape to Vision Electric Super Conductors GmbH (VESC). By 2027, VESC will manufacture and install a 600 meter long superconducting busbar system with 200,000 Ampere current-carrying capacity to power electrolysis cells at smelter facility in Hamburg, Germany. While operating at cryogenic temperatures, this new superconducting system will offer significantly greater energy efficiency than conventional solutions achieve. This milestone marks the largest deployment of HTS technology in aluminum industry to date.

According to the International Aluminium Institute, aluminum smelting industry has an estimated annual output of 72+ million tons with the average energy intensity of 135 kWh per kilogram. The Hamburg project aims to demonstrate the massive energy-saving potential of superconductor busbars for aluminum smelting, as well as for other electrolysis processes, data centers, solar fields, and railways.

"This first-of-a-kind project is of particular importance for us, as it paves the way for market adoption of superconductors in strategically important industries like electrolysis production of metals and gases," said Dr. Sergey Lee, CEO of Faraday Factory Japan.

"In the contest of superconductor manufacturers, Faraday Factory convinced on technical competence and commercial support," said Dr. Wolfgang Reiser, CEO of Vision Electric Super Conductors GmbH.

Faraday Factory Japan is the world's largest manufacturer of high-temperature superconductors. The company started to operate its new production facility in 2024.

Vision Electric Super Conductors GmbH has a core competence in the loss-free and safe transport of high electrical currents in industry and grid. The company delivers turnkey solutions to take care of customers' projects from design and construction to commissioning and maintenance.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Faraday Factory Has Started Delivery of Superconductor Tapes for 200,000 Ampere Busbar to be installed at Aluminum Smelter Plant in Hamburg, Germany

Qatar Airways Group has agreed a new loan facility of QAR 4.5bn with local Qatari banks

This innovative transaction underscores the commitment of Qatar Airways to Qatar National Vision 2030

DOHA, Qatar, June 4, 2025 /PRNewswire/ -- For the first time in 28 years, Qatar Airways signs a landmark agreement with leading local Qatari Banks led by QNB to provide QAR 4.5 billion in strategic financing.

The financing will be provided by domestic banks in Qatar. The syndication was fully underwritten and led by QNB Group as the sole and exclusive Book Runner, Global Coordinator, Initial Mandated Lead Arranger and Structuring Bank, while the lending banks include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, QIB, and QIIB.

This new agreement will see an innovative approach taken whereby local banks lend in Qatari Riyals in both conventional and Islamic tranches and commercial terms in line with international benchmarks for a strategic financing transaction of this nature.

Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer, said: "Qatar Airways' latest purpose-driven partnership demonstrates our trust in the operational excellence of the Qatari banking sector. We are honoured to collaborate with the leading banks of Qatar as we continue to further our commitment to fulfilling the Qatar National Vision 2030. We thank the financial institutions that have played a vital role in shaping our journey, offering support that has helped us reach new millstones. We believe such strong and resilient partnerships remain essential for driving industry innovation and expanding global connectivity."

QNB Group Chief Executive Officer, Mr. Abdulla Mubarak Al-Khalifa, said: "We are pleased to have been selected by Qatar Airways for this prominent role. This appointment underscores QNB's expertise in structuring complex financing solutions and its commitment to supporting the growth objectives of our clients and supporting Qatar National Vision 2030."

As Qatar Airways continues its ambitious fleet and network growth strategy, it remains firmly committed to supporting local institutions, enhancing economic development, and contributing to national prosperity. With this agreement, the national carrier also aims to stimulate greater collaboration between the aviation and the banking sector, paving the way for innovative financial structures tailored to the airline's evolving needs while promoting national economic resilience.

About Qatar Airways

A multiple award-winning airline, Qatar Airways won the 'World's Best Airline' for the unprecedented eighth time at the 2024 World Airline Awards, managed by the international air transport rating organisation, Skytrax. Qatar Airways has been the World's Best Airline in 2011, 2012, 2015, 2017, 2019, 2021, 2022, and 2024. The airline continues to be synonymous with excellence, also taking home, 'World's Best Business Class', 'World's Best Business Class Airline Lounge', and 'Best Airline in the Middle East'. As leaders in industry innovation and digital adoption, Qatar Airways was also recently voted the 'World's Best Airline Website' by World Travel Tech Awards in 2024.

Qatar Airways currently flies to over 170 destinations worldwide, connecting through its Doha hub, Hamad International Airport, the 'Best Airport in the Middle East' for 11 consecutive years, as well as 'World's Best Airport Shopping' for the third year in a row, as voted by Skytrax. Hamad International Airport has previously been named the 'World's Best Airport' by Skytrax in 2021, 2022, and 2024.

Qatar Airways was the first Airline in the Middle East to be certified to the highest level of IATA's Environmental Assessment (IEnvA) programme, based on recognised environmental management system principles (such as ISO 14001). As an inaugural signatory to the Buckingham Palace Declaration in March 2016, Qatar Airways became the first airline globally to be certified to the industry standard for the prevention of illegal wildlife trafficking in aviation.

About QNB Group

QNB Group is one of the leading financial institutions in the MEA region and among the most valuable banking brands in the regional market. Present in over 28 countries across Asia, Europe, and Africa, it offers tailored products and services supported by innovation and backed by a team of over 31,000 professionals dedicated to driving banking excellence worldwide.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Qatar Airways Signs Landmark Agreement with QNB Group and Leading Qatari Banks for New Era of Strategic Financing

Qatar Airways Signs Landmark Agreement with QNB Group and Leading Qatari Banks for New Era of Strategic Financing