Latest news with #energyefficiency
Entrepreneur
8 hours ago
- Business
- Entrepreneur
Old Waste, New Energy: Ashish Bhandari, MD & CEO, Thermax Limited
As the world scrambles for cleaner energy and tighter efficiency, India's Thermax Limited is doing something refreshingly rare: putting its money, talent, and tech where its mission is. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. As the world scrambles for cleaner energy and tighter efficiency, India's Thermax Limited is doing something refreshingly rare: putting its money, talent, and tech where its mission is. And at the helm of this transformation is Ashish Bhandari, the MD & CEO who's steering the 58-year-old engineering firm into the thick of the energy transition. "We are very focused on being a partner in energy transition to our customers. Which means almost everywhere there is energy," states Bhandari. From petrochemical giants to potato chip factories, the company's footprint is as diverse as the fuels it's transforming. At a time when energy headlines are dominated by solar panels and hydrogen dreams, Thermax is quietly turning agricultural waste, flue gases, and even potato steam into power, profit, and planetary goodwill. Waste-to-energy isn't just a line item on a sustainability report here; it's the center of gravity. Bhandari doesn't mince words about it. "The single biggest area where I can talk about is this whole waste-to-energy area." From converting palm industry waste like empty fruit bunches in Southeast Asia to tackling India's Parali grass — the smog-inducing scourge of northern winters — Thermax is aggressively building capability. In fact, in Thermax's industrial heating range, biomass already accounts for more than 70 per cent of its sales. That's not a gentle pivot; that's a power slide. One minute you're hearing about mustard stalks being turned into fuel, and the next, about cutting-edge Flexi Source systems that can run on up to 11 different kinds of fuels. "More importantly," Bhandari points out, "we take what is wasted within the plant currently and give it back to them in the form of useful energy." The company captures the steam from potato frying, uses it to power chillers for cooling, and recycles the recovered water vapor back into the system to wash more potatoes. It's the industrial equivalent of eating your chips and having them too. Thermax's IIoT platform, Edge Live, has seen breakneck adoption since launching in 2022. It now monitors over 4,800 assets across 200+ plants in 22 countries. "We want to be able to monitor a variety of data that industrial plants give out," Bhandari says, "starting with assets that Thermax is particularly comfortable with and we know very well, which are at the heart of energy for any given plant." Edge Live isn't just about uptime; it's about insight — unlocking 2 to 10 per cent efficiency gains with machine learning, diagnostics, and real-time analytics. But for all its current scale, the real drama lies in what's next. Thermax is placing serious bets on hydrogen, carbon capture, and advanced biofuels — technologies that are still warming up in the bullpen. "We are doing our own R&D in areas around hydrogen, even some specifics of carbon capture," Bhandari shares. The company is also engaging in strategic partnerships with firms like Ceres Power and Steinmüller, and even dabbling in acquisitions; all part of a three-pronged strategy to stay ahead in a volatile, innovation-heavy market. Of course, not all experiments go according to plan. "Last year, Thermax lost a fair bit of money in stabilizing these bio-CNG plants," Bhandari admits. Driving all this is a cultural shift that might be the company's most transformative work yet. The company has revamped leadership development to cultivate a growth mindset, brought in global talent for R&D, and embedded innovation into its DNA. For a company once best known for boilers, that's quite the heat-up. In a major industry of India, if not the world, Thermax is delivering results — sometimes in kilowatts, sometimes in clean air, and increasingly, in data. Factsheet:
CTV News
a day ago
- Business
- CTV News
Nova Scotia announces funding for seafood industry climate change projects
Nova Scotia Fisheries Minister Kent Smith, left, executive director fisheries and aquaculture Geordie MacLachlan and deputy fisheries minister Jason Hollet, right, announce the lifting of seafood buyer and licensing moratoriums during a news conference in Halifax on Tuesday, May 13, 2025. THE CANADIAN PRESS/Keith Doucette The Fisheries and Aquaculture Energy Efficiency Innovation Fund is spending $1.73 million to support the efforts of 22 seafood companies and related organizations throughout Nova Scotia in lowering their carbon emissions. The funding will go towards projects that range from electrifying vessels to installing solar systems, a news release from the province reads. 'Our seafood sector is a key partner in addressing climate change,' said Kent Smith, minister of Fisheries and Aquaculture. 'This funding will help seafood organizations in their efforts to reduce fossil fuel consumption and greenhouse gas emissions, while also helping the industry lower its operational costs.' Efficiency Nova Scotia is administering the three-year fund and will provide a total of $6.5 million to industry climate change projects. 'Nova Scotia's fisheries and aquaculture industry is a cornerstone of our economy, supporting jobs and communities across the province,' said Stephen MacDonald, president and CEO, EfficiencyOne. 'Energy efficiency is a powerful way for organizations in the sector to reduce costs and boost productivity both in the short and long term – and this fund is helping more businesses adopt innovative, energy-efficient practices that support a more resilient and sustainable future. We're excited to see the initiatives from these new fund recipients come to life, driving innovation and sustainability across the sector.' The fund is part of the province's commitment to the Our Climate, Our Future: Nova Scotia's Climate Change Plan for Clean Growth. A third call for project funding applications will be announced later this year. For more Nova Scotia news, visit our dedicated provincial page
Yahoo
3 days ago
- Automotive
- Yahoo
Permanent Magnet Motor Market worth $93.75 billion by 2030
DELRAY BEACH, Fla., June 25, 2025 /PRNewswire/ -- The global Permanent Magnet Motor Market is anticipated to grow from estimated USD 58.68 billion in 2025 to USD 93.75 billion by 2030, at a CAGR of 9.8% during the forecast period. The Permanent Magnet Motor Market is experiencing significant global growth due to the increasing demand for high-performance and energy-efficient motors across various applications. Permanent magnet motors utilize permanent magnets to create the magnetic field, making them more efficient, offering superior torque profiles, and allowing for a more compact design than conventional motors. As energy savings and performance become more critical in automotive, industrial automation, HVAC, aerospace, and consumer electronics, these motors have emerged as the preferred choice. A key factor driving this market growth is the rise in the adoption of electric vehicles (EVs). Permanent magnet motors are particularly popular in EV drivetrains because of their high power density and efficiency. Additionally, advancements in magnet technology, decreasing prices of rare-earth materials, and supportive government policies aimed at energy conservation further propel market growth. The Asia Pacific region is emerging as the fastest-growing area, supported by rapid industrialization, increasing EV production, and strong government backing in countries such as China, Japan, and India. The Permanent Magnet Motor Market is expected to grow steadily in the coming years, as companies continue to invest in production capacity and innovation. These motors' high efficiency, compact size, and improved torque control enable their use in electric vehicles, industrial automation, HVAC systems, and household appliances. Furthermore, the global shift toward a more sustainable future and stricter energy policies are stimulating the replacement of older motors with permanent magnet alternatives. Continuous technological advancements and decreasing costs of rare-earth materials make these motors more affordable and accessible. Browse in-depth TOC on "Permanent Magnet Motor Market" 150 - Tables 80 - Figures 250 – Pages Download PDF Brochure: By Type, permanent magnet AC segment to dominate market during forecast period Permanent Magnet AC motors hold the largest market share because they are more efficient, have a higher torque-to-weight ratio, and perform better in variable speed applications than other motors. These motors have found considerable application in significant areas, which include electric vehicles, industrial automation, HVAC systems, and robotics, where saving energy and controlled precision are essential. Additionally, advances in motor control technologies and the decreasing prices of rare-earth magnets have reduced the cost difference between PMAC motors and PI motors, making them more attractive for widespread adoption across various industries. Asia Pacific to be fastest-growing market during forecast period During the forecast period, Asia Pacific is expected to be the fastest-growing market for permanent magnet motors. There is strong demand for permanent magnet motors in Asia Pacific because of the blistering industrialization, the rising use of electric vehicles, and the growing production industries in nations such as China, India, Japan, and South Korea. Government programs promoting energy efficiency and clean energy, and an increasing interest in investing in automation and infrastructure, are driving demand in this sector. Additionally, the region boasts a high concentration of motor manufacturers and parts suppliers, facilitating faster production and innovation at competitive prices. Key Players Some major players in the Permanent Magnet Motor Market are NIDEC CORPORATION, ABB, Siemens, Wolong Electric Group, and WEG. These players' major strategies include acquisitions, product launches, agreements, partnerships, and expansions. Request Sample Pages: ABB (Switzerland) ABB (Switzerland) is a global leader offering various products, systems, and services in the utilities, infrastructure, and transportation industries. The company operates through four major divisions: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. ABB offers a complete portfolio in the Motion segment, including electric motors, generators, drives, and services. This segment is critical, constituting the greater share of ABB's revenues. The Motion business is involved with powertrain solutions and transmission products for automation needs in transportation, discrete manufacturing, and process industries. The Motion business serves a broad customer base with a complete range of motors, from standard to highly customized motor designs, including large AC synchronous motors and high-voltage induction motors. ABB has a strong presence in over 100 countries, and it is supported by approximately 300 consolidated operating and holding subsidiaries. Siemens (Germany) Siemens (Germany) is a technology company focused on electrification, automation, and digitalization, and it works in numerous sectors. The company produces generators, motors, transformers, control apparatus, general-purpose machinery, and advanced signaling and control equipment for road and rail traffic. Siemens operates through five business units: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Portfolio Companies, delivering integrated offerings focused on discrete and process automation, smart energy distribution, intelligent transportation, and healthcare technology. The Digital Industries segment is the dominant growth segment for the company, with diverse industrial automation products, software, and system solutions that support comprehensive digital transformation for the manufacturing and process sectors. Siemens is committed to innovation and sustainability, growing its global reach to almost 200 countries and having a provincial presence in regional manufacturing, research and development, and service operations. For more information, Inquire Now! Related Reports: Brushless DC Motor Market Electric Motors Market Servo Motors and Drives Market Automotive Traction Motor Market Get access to the latest updates on Permanent Magnet Motor Companies and Permanent Magnet Motor Industry About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content to download multimedia: SOURCE MarketsandMarkets
Yahoo
3 days ago
- Automotive
- Yahoo
Permanent Magnet Motor Market worth $93.75 billion by 2030
DELRAY BEACH, Fla., June 25, 2025 /PRNewswire/ -- The global Permanent Magnet Motor Market is anticipated to grow from estimated USD 58.68 billion in 2025 to USD 93.75 billion by 2030, at a CAGR of 9.8% during the forecast period. The Permanent Magnet Motor Market is experiencing significant global growth due to the increasing demand for high-performance and energy-efficient motors across various applications. Permanent magnet motors utilize permanent magnets to create the magnetic field, making them more efficient, offering superior torque profiles, and allowing for a more compact design than conventional motors. As energy savings and performance become more critical in automotive, industrial automation, HVAC, aerospace, and consumer electronics, these motors have emerged as the preferred choice. A key factor driving this market growth is the rise in the adoption of electric vehicles (EVs). Permanent magnet motors are particularly popular in EV drivetrains because of their high power density and efficiency. Additionally, advancements in magnet technology, decreasing prices of rare-earth materials, and supportive government policies aimed at energy conservation further propel market growth. The Asia Pacific region is emerging as the fastest-growing area, supported by rapid industrialization, increasing EV production, and strong government backing in countries such as China, Japan, and India. The Permanent Magnet Motor Market is expected to grow steadily in the coming years, as companies continue to invest in production capacity and innovation. These motors' high efficiency, compact size, and improved torque control enable their use in electric vehicles, industrial automation, HVAC systems, and household appliances. Furthermore, the global shift toward a more sustainable future and stricter energy policies are stimulating the replacement of older motors with permanent magnet alternatives. Continuous technological advancements and decreasing costs of rare-earth materials make these motors more affordable and accessible. Browse in-depth TOC on "Permanent Magnet Motor Market" 150 - Tables 80 - Figures 250 – Pages Download PDF Brochure: By Type, permanent magnet AC segment to dominate market during forecast period Permanent Magnet AC motors hold the largest market share because they are more efficient, have a higher torque-to-weight ratio, and perform better in variable speed applications than other motors. These motors have found considerable application in significant areas, which include electric vehicles, industrial automation, HVAC systems, and robotics, where saving energy and controlled precision are essential. Additionally, advances in motor control technologies and the decreasing prices of rare-earth magnets have reduced the cost difference between PMAC motors and PI motors, making them more attractive for widespread adoption across various industries. Asia Pacific to be fastest-growing market during forecast period During the forecast period, Asia Pacific is expected to be the fastest-growing market for permanent magnet motors. There is strong demand for permanent magnet motors in Asia Pacific because of the blistering industrialization, the rising use of electric vehicles, and the growing production industries in nations such as China, India, Japan, and South Korea. Government programs promoting energy efficiency and clean energy, and an increasing interest in investing in automation and infrastructure, are driving demand in this sector. Additionally, the region boasts a high concentration of motor manufacturers and parts suppliers, facilitating faster production and innovation at competitive prices. Key Players Some major players in the Permanent Magnet Motor Market are NIDEC CORPORATION, ABB, Siemens, Wolong Electric Group, and WEG. These players' major strategies include acquisitions, product launches, agreements, partnerships, and expansions. Request Sample Pages: ABB (Switzerland) ABB (Switzerland) is a global leader offering various products, systems, and services in the utilities, infrastructure, and transportation industries. The company operates through four major divisions: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. ABB offers a complete portfolio in the Motion segment, including electric motors, generators, drives, and services. This segment is critical, constituting the greater share of ABB's revenues. The Motion business is involved with powertrain solutions and transmission products for automation needs in transportation, discrete manufacturing, and process industries. The Motion business serves a broad customer base with a complete range of motors, from standard to highly customized motor designs, including large AC synchronous motors and high-voltage induction motors. ABB has a strong presence in over 100 countries, and it is supported by approximately 300 consolidated operating and holding subsidiaries. Siemens (Germany) Siemens (Germany) is a technology company focused on electrification, automation, and digitalization, and it works in numerous sectors. The company produces generators, motors, transformers, control apparatus, general-purpose machinery, and advanced signaling and control equipment for road and rail traffic. Siemens operates through five business units: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Portfolio Companies, delivering integrated offerings focused on discrete and process automation, smart energy distribution, intelligent transportation, and healthcare technology. The Digital Industries segment is the dominant growth segment for the company, with diverse industrial automation products, software, and system solutions that support comprehensive digital transformation for the manufacturing and process sectors. Siemens is committed to innovation and sustainability, growing its global reach to almost 200 countries and having a provincial presence in regional manufacturing, research and development, and service operations. For more information, Inquire Now! Related Reports: Brushless DC Motor Market Electric Motors Market Servo Motors and Drives Market Automotive Traction Motor Market Get access to the latest updates on Permanent Magnet Motor Companies and Permanent Magnet Motor Industry About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content to download multimedia: SOURCE MarketsandMarkets
CBC
4 days ago
- Business
- CBC
Manitoba offers up new incentives to shift to heat pumps, ditches election promise
Social Sharing The Manitoba government wants homeowners to upgrade their heating and cooling systems to a geothermal pump it says could save them up to $1,000 annually on their bills. Just how much they have to pay to get the heat pump system installed, though, depends on which incentive offer they qualify for. The eligibility requirements and incentives are based on a homeowner's current heating fuel type, the suitability of a ground-source heat pump in rural and city settings and, in some cases, on household income: Income-based offers. First Nation communities. Homeowners. Homeowners with oil heating systems. Multi-unit residential buildings. "We know that this a big shift from traditional heating systems and that's why we're backing this program with some of the most generous financial supports Efficiency Manitoba has ever offered," said Environment and Climate Change Minister Mike Moyes at the launch on Tuesday of the province's affordable home energy program The cost of every installation will vary because of the diverse eligibility requirements, said Colleen Kuruluk, CEO of Efficiency Manitoba. "When designing our offers, we recognize that every household is different and the needs of Manitobans are certainly unique. This ranges from the size of the home to the number of occupants to their income and ability to invest in energy efficiency," she said. However, she estimates 60 to 75 per cent of the cost of the installation will be covered by the incentive. The remaining 25 to 40 per cent will be covered by the homeowner but paid back gradually as it is added to the monthly heating bill. The repayment will be meted out so it is less than a person's former energy bill, so the savings from shifting to the new system will be realized immediately, Kuruluk said. Efficiency Manitoba expects to spend about $10 million annually on the program, although Kuruluk admitted it could be more, depending on the response from the public. But every switch to a ground-source heat pump translates into greater value in energy costs to Manitoba Hydro, she said. A ground-source heat pump moves heat rather than generating it. It extracts heat from the outside air (even in cold temperatures) and transfers it indoors for heating, and reverses the process to cool a home by transferring indoor heat to the outside. NDP alters election promise During the 2023 election campaign, the NDP promised to fully cover the expense of the heat pump equipment and installation for 5,000 homes over four years. Under the revised program, people won't need to pay any upfront costs for the installation — the contractor is paid directly by Efficiency Manitoba — but there is that remaining 25 to 40 per cent that will have to gradually be paid back. Asked about the change, Moyes repeatedly insisted the new program is "by far the most generous offer that has ever been put forward by the Manitoba government." He wouldn't give a timeline for completing 5,000 installations, saying it depends on the uptake by Manitobans. Kuruluk called it "a significant enhancement" over the grant program that was in place. In some instances, such as in First Nation communities, the cost to the homeowner could be zero. Kuruluk said Efficiency Manitoba is working with an Indigenous-led capital fund that is, in turn, working with investors to cover the expense. Other incentives are designed to support retrofits in multi-unit residential buildings. "By helping Manitobans switch to heat pump systems, we are reducing household energy bills, reducing peak energy demands, reducing emissions and creating new opportunities for skilled workers," Moyes said, noting heat pumps use less than half the electricity of that required by a typical electric furnace in Manitoba. The new program is part of Manitoba's overall affordable energy plan announced in September 2024, he said.
