Proactive Investors - Run By Investors For Investors

Oxford Instruments Adds Second ITER Contract to Supply Superconducting Wire

Oxford Instruments Adds Second ITER Contract to Supply Superconducting Wire

UK registered technology firm, Oxford Instruments (LSE: OXIG) has won an order to supply an additional 9 tonnes of superconducting wire to ITER at a value of approximately £5 million. Investors welcomed the news which underlines Oxford Instrument’s role in one of the world largest scientific projects. The Company's shares rose over 3% to trade at £1.99.


Oxford Instruments is a worldwide supplier of high technology tools and systems for the analysis and manipulation of matter at the smallest scale. Their diverse markets include industrial analysis, research, education, space, and energy.


Today’s order is in addition to July’s £30m order for 58 tonnes of superconducting wire from Fusion for Energy, the European procurement agency for ITER. The deal has been agreed with Oak Ridge National Labs/UT Battelle on behalf of the United States ITER project office, the procurement agency in the US for ITER.


ITER is a joint international research and development project seeking alternative energy through fusion power and is one of the largest scientific projects ever undertaken. The experiment aims to demonstrate that it is possible to produce commercial energy from fusion.


The superconducting wire will be supplied by Oxford Superconducting Technology, USA, a wholly owned subsidiary of Oxford Instruments. The first deliveries will be in the financial year commencing April 2010. Deliveries will be phased over two years.

View full OXIG profile View Profile

Oxford Instruments Timeline

Related Articles

wind farms
May 02 2019
Shares just below an all-time high with a prospective dividend yield of 5%
double decker bus
Thu
Here we take a closer look at Ceres Power PLC (LON:CWR), which is commercialising a revolutionary fuel cell technology
Alternus Energy solar park in Italy
December 18 2018
The clean energy company’s portfolio includes solar parks in Italy, Germany, and, soon, in the Netherlands

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use