U.S. Energy Secretary Jennifer Granholm announced a “major scientific breakthrough” on Tuesday in the decades-long quest to harness fusion, the energy that powers the sun and stars.
Researchers at the Lawrence Livermore National Laboratory in California for the first time produced more energy in a fusion reaction than was used to ignite it, something called net energy gain, the Energy Department said.
The achievement will pave the way for advancements in national defence and the future of clean power, Granholm and other officials said.
“This is a landmark achievement for the researchers and staff at the National Ignition Facility who have dedicated their careers to seeing fusion ignition become a reality, and this milestone will undoubtedly spark even more discovery,” Granholm told a news conference in Washington.
The fusion breakthrough “will go down in the history books,” she said.
Granholm, seen at the White House in June, said Tuesday that the fusion breakthrough ‘will go down in the history books.’ (Kevin Lamarque/Reuters)
While there are different ways to try to produce nuclear fusion — the same process that fuels our sun and other stars — the lab used 192 lasers focused on the inner wall of a cylinder that contained a small capsule, about the size of a BB.
That generated X-rays from the wall that struck the capsule, and fusion fuel in the capsule was squeezed. That fusion fuel stayed hot, dense and round enough, for long enough, that it ignited, producing more energy than what was required by the lasers.
While the energy produced was small — about three megajoules, or enough to power a light bulb — it marks an historic first in nuclear fusion energy.
Proponents of fusion hope that it could one day produce nearly limitless, carbon-free energy, displacing fossil fuels and other traditional energy sources. Producing energy that powers homes and businesses from fusion is still decades away. But researchers said it was a significant step nonetheless.
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“It’s almost like it’s a starting gun going off,” said Prof. Dennis Whyte, director of the Plasma Science and Fusion Center at the Massachusetts Institute of Technology and a leader in fusion research. “We should be pushing towards making fusion energy systems available to tackle climate change and energy security.”
Fusion difficult to control
Net energy gain has been an elusive goal because fusion happens at such high temperatures and pressures that it is incredibly difficult to control.
Fusion works by pressing hydrogen atoms into each other with such force that they combine into helium, releasing enormous amounts of energy and heat. Unlike other nuclear reactions, it doesn’t create radioactive waste.
Billions of dollars and decades of work have gone into fusion research that has produced exhilarating results — for fractions of a second. Previously, researchers at the National Ignition Facility, the division of Lawrence Livermore where the success took place, used 192 lasers and temperatures multiple times hotter than the centre of the sun to create an extremely brief fusion reaction.
The lasers focus an enormous amount of heat on a small metal can. The result is a superheated plasma environment where fusion may occur.
‘Significant milestone’ but years of work remain
Riccardo Betti, a professor at the University of Rochester and expert in laser fusion, said an announcement that net energy had been gained in a fusion reaction would be significant. But he said there’s a long road ahead before the result generates sustainable electricity.
He likened the breakthrough to when humans first learned that refining oil into gasoline and igniting it could produce an explosion.
“You still don’t have the engine and you still don’t have the tires,” Betti said. “You can’t say that you have a car.”
The net energy gain achievement applied to the fusion reaction itself, not the total amount of power it took to operate the lasers and run the project. For fusion to be viable, it will need to produce significantly more power and for longer.
It is incredibly difficult to control the physics of stars. Whyte said it has been challenging to reach this point because the fuel has to be hotter than the centre of the sun. The fuel does not want to stay hot — it wants to leak out and get cold. Containing it is an incredible challenge, he said.
Net energy gain isn’t a huge surprise from the California lab because of progress it had already made, according to Jeremy Chittenden, a professor at Imperial College in London specializing in plasma physics.
“That doesn’t take away from the fact that this is a significant milestone,” he said.
It takes enormous resources and effort to advance fusion research. One approach turns hydrogen into plasma, an electrically charged gas, which is then controlled by humongous magnets. This method is being explored in France in a collaboration among 35 countries called the International Thermonuclear Experimental Reactor as well as by researchers at the Massachusetts Institute of Technology and a private company.
Last year, the teams working on those projects in two continents announced significant advancements in the vital magnets needed for their work.
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
