(Yicai Global) July 2 -- Chinese light-emitting diode maker Lianovation has built the world's most powerful induction heater with a newly developed superconducting magnet that could significantly cut the cost of heating and processing metals.

The new technology passed review by experts at the China Nonferrous Metals Industry Association, including renowned superconductivity specialist and Chinese Academy of Sciences member Zhao Zhongxian, the Jiangxi-based firm said in a statement yesterday.

The panel that assessed the magnet, which boasts a megawatt of heating power, believe that it could halve the cost of heating aluminium ingots to CNY130 (USD19) a ton if used in the aluminium extrusion processing industry.

Lianovation, officially Lianchuang Opto-electronic Science & Technology, did not disclose how much researching and producing the magnet cost nor reveal any commercialization plans. The heater boasts one megawatt of power.

Editor: James Boynton