Coherent Penned A Letter Of Intent (LOI) With Faraday 1867 Holdings To Scale Manufacturing Of Superconducting Tape To Enable Mass Deployment Of Fusion Reactors
Portfolio Pulse from Benzinga Newsdesk
Coherent Corp. (NYSE:COHR) and Faraday 1867 Holdings LLC have signed a letter of intent (LOI) to scale up manufacturing of high-temperature superconducting (HTS) tape. This is aimed at enabling mass deployment of nuclear fusion reactors and supporting the green energy transition.
October 05, 2023 | 10:07 am
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Coherent's partnership with Faraday 1867 Holdings to scale up HTS tape manufacturing could potentially boost its revenues and position in the green energy sector.
The partnership with Faraday 1867 Holdings to scale up HTS tape manufacturing is directly related to Coherent's business. This could potentially increase its revenues and strengthen its position in the green energy sector, which is a growing market. Therefore, this news is likely to have a positive impact on Coherent's stock price in the short term.
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