Search results for: Carbon trading price

Authors: Golnoosh Torabian, P. Valtchev, F. Dehghani

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The need for efficient nutraceutical products has been dramatically changing the approach of the industrial processes. The development of novel mild processes is highly demanded for the production of such products; especially when both quality and safety need to be guaranteed during their long shelf life. Within this research, for the first time, we investigated the effect of supercritical carbon dioxide treatment for the inactivation of microbes and enzymes in a berry juice possessing therapeutic effect. We demonstrated that a complete inactivation of microbes can be achieved at optimized conditions of treatment. However, the bottle neck of the process was represented by the unpromising inactivation of the degradative enzyme by supercritical carbon dioxide treatment. However, complete enzyme inactivation was achieved by applying two strategies: the first was optimizing juicing method by adding a mechanical step and the second strategy was addition of natural inhibitors to the juice. Overall these results demonstrate that our hybrid process has a significant effect on the inactivation of microorganism and enzymes in the fresh juice. The developed process opens the possibility for the evolution of new products with optimal nutritional and sensorial characteristics, as well as offering a competitive cost and an environmentally friendly alternative for pasteurization and extension of shelf life in a wide range of natural therapeutic products.

Keywords: hybrid method, berry juice, pasteurization, enzymes inactivation

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Authors: Abdulmagid A. Khattabi, Abdul Fatah M. Emhamed

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The steel alloy Introduced after becoming carbon-steel does not meet the requirements of engineering industry; and it cannot be obtained tensile strength from carbon-steel higher than (700MPa), the low alloy steel enters in a lot of heavy engineering equipment parts, molds, agricultural equipment and other industry. In addition, that may be exposed to in-service failure, which may require returned to work, to do the repairs or maintenance by one of the welding methods available. The ability of steel weld determined through palpation of the cracks, which can reduce by many ways. These ways are often expensive and difficult to implement, perhaps the control to choose the type of electrode welding user is one of the easiest and least expensive applications. It has been welding the steel low alloys high resistance by manual metal arc (MMA), and by using a set of welding electrodes which varying in chemical composition and in their prices as well and test their effect on tensile strength. Results showed that using the poles of welding, which have a high proportion of iron powder and low hydrogen. The Tensile resistance is (484MPa) and the weld joint efficiency was (56.9%), but when (OK 47.04) electrode was used the tensile strength increased to (720MPa) and the weld joint efficiency to (84.7%). Using the cheapest electrode (OK 45.00) the weld joint efficiency did not exceed (24.2%), but when using the most expensive electrode (OK 91.28) the weld joint efficiency is (38.1%).

Keywords: steel low alloys high resistance, electrodes welding, tensile test

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Authors: Tawfig Falani, Abdulalaziz Saleh

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Air pollution has become a major environmental issue with definitive repercussions on human health. Global concerns have been raised about the health effects of deteriorating air quality due mainly to widespread industrialization and urbanization. To assess the quality of air in Brega, air quality indicators were calculated using the U.S. Environmental Protection Agency procedure. Air quality was monitored from 01/10/2019 to 28/02/2021 with a daily average measuring six pollutants of particulate matter <2.5µm (PM2.5), and <10µm (PM₁₀), sulfur dioxide (SO₂), nitrogen dioxide (NO₂), ozone (O₃), and carbon monoxide (CO). The result indicated that air pollution at general air quality monitoring sites for sulphur dioxide, carbon monoxide, PM₁₀ and PM2.5 and nitrogen dioxide are always within the permissible limit. Referring to a monthly average of Pollutants in the Brega Industrial area, all months were out of AQG limit for NO₂, and the same with O₃ except for two months. For PM2.5 and PM₁₀ 7, 5 out of 17 months were out of limits, respectively. Relative AQI for ozone is found in the range of moderate category of general air pollution, and the worst month was Nov. 2020, which was marked as Very Unhealthy category, then the next two months (Dec. 2020 and Jan. 2021 ) were Unhealthy categories. It's the first time that we have used the AQI in SOC, and not usually used in Libya to identify the quality of air pollution. So, I think it will be useful if AQI is used as guidance for specified air pollution. That dictate putting monitoring stations beside any industrial activity that has emissions of the six major air pollutants.

Keywords: air quality, air pollutants, air quality index (AQI), particulate matter

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Authors: Pin-Wei Chiang, Wen-Liang Chang, Ruey-Huei Yeh

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This paper investigates optimal replacement and preventative maintenance policies of secondhand products under a Finite Planning Horizon (FPH). Any consumer wishing to replace their product under FPH would have it undergo minimal repairs. The replacement provided would be required to undergo periodical preventive maintenance done to avoid product failure. Then, a mathematical formula for disbursement cost for products under FPH can be derived. Optimal policies are then obtained to minimize cost. In the first of two segments of the paper, a model for initial product purchase of either new or secondhand products is used. This model is built by analyzing product purchasing price, surplus value of product, as well as the minimal repair cost. The second segment uses a model for replacement products, which are also secondhand products with no limit on usage. This model analyzes the same components as the first as well as expected preventative maintenance cost. Using these two models, a formula for the expected final total cost can be developed. The formula requires four variables (optimal preventive maintenance level, preventive maintenance frequency, replacement timing, age of replacement product) to find minimal cost requirement. Based on analysis of the variables using the expected total final cost model, it was found that the purchasing price and length of ownership were directly related. Also, consumers should choose the secondhand product with the higher usage for replacement. Products with higher initial usage upon acquisition require an earlier replacement schedule. In this case, replacements should be made with a secondhand product with less usage. In addition, preventative maintenance also significantly reduces cost. Consumers that plan to use products for longer periods of time replace their products later. Hence these consumers should choose the secondhand product with lesser initial usage for replacement. Preventative maintenance also creates significant total cost savings in this case. This study provides consumers with a method of calculating both the ideal amount of usage of the products they should purchase as well as the frequency and level of preventative maintenance that should be conducted in order to minimize cost and maintain product function.

Keywords: finite planning horizon, second hand product, replacement, preventive maintenance, minimal repair

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Authors: Olakunle Felix Adekunle

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In the recent years several non-tariff provisions have been regarded as means holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to In recent years, several non‐tariff trade provisions have been regarded as means of holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to enforce the adoption of environmental policies elsewhere. These non‐tariff trade constraints are claimed to threaten the freedom of trading across nations, as well as the harmonization sought towards the distribution of income and policy measures. Therefore the ‘greening’ of world trade issues essentially ranges over whether there ought or ought not to be a trade‐off between trade and environmental policies. The impacts of free trade and environmental policies on major economic variables (such as trade flows, balances of trade, resource allocation, output, consumption and welfare) are thus studied here, and so is the EKC hypothesis, when such variables are played against the resulting emission levels. The policy response is seen as a political game, played here by two representative parties named North and South. Whether their policy choices, simulated by four scenarios, are right or wrong depends on their policy goals, split into economic and environmental ones.

Keywords: environmental, policies, strategies, constraint

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Authors: Payman Davoodi-Nasab, Ahmad Rahbar-Kelishami, Jaber Safdari, Hossein Abolghasemi

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The high purity rare earth elements (REEs) have been vastly used in the field of chemical engineering, metallurgy, nuclear energy, optical, magnetic, luminescence and laser materials, superconductors, ceramics, alloys, catalysts, and etc. Neodymium is one of the most abundant rare earths. By development of a neodymium–iron–boron (Nd–Fe–B) permanent magnet, the importance of neodymium has dramatically increased. Solvent extraction processes have many operational limitations such as large inventory of extractants, loss of solvent due to the organic solubility in aqueous solutions, volatilization of diluents, etc. One of the promising methods of liquid membrane processes is emulsion liquid membrane (ELM) which offers an alternative method to the solvent extraction processes. In this work, a study on Nd extraction through multi-walled carbon nanotubes (MWCNTs) assisted ELM using response surface methodology (RSM) has been performed. The ELM composed of diisooctylphosphinic acid (CYANEX 272) as carrier, MWCNTs as nanoparticles, Span-85 (sorbitan triooleate) as surfactant, kerosene as organic diluent and nitric acid as internal phase. The effects of important operating variables namely, surfactant concentration, MWCNTs concentration, and treatment ratio were investigated. Results were optimized using a central composite design (CCD) and a regression model for extraction percentage was developed. The 3D response surfaces of Nd(III) extraction efficiency were achieved and significance of three important variables and their interactions on the Nd extraction efficiency were found out. Results indicated that introducing the MWCNTs to the ELM process led to increasing the Nd extraction due to higher stability of membrane and mass transfer enhancement. MWCNTs concentration of 407 ppm, Span-85 concentration of 2.1 (%v/v) and treatment ratio of 10 were achieved as the optimum conditions. At the optimum condition, the extraction of Nd(III) reached the maximum of 99.03%.

Keywords: emulsion liquid membrane, extraction of neodymium, multi-walled carbon nanotubes, response surface method

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Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit

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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.

Keywords: central bank independence, inflation, macroeconomic variables, price stability

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Authors: Hina Verma, Karine Le Guen, Mohammed H. Modi, Rajnish Dhawan, Philippe Jonnard

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Periodic multilayer mirrors have potential application as optical components in X-ray microscopy, particularly working in the water window region. The water window range, located between the absorption edges of carbon (285 eV) and oxygen (530eV), along with the presence of nitrogen K absorption edge (395 eV), makes it a powerful method for imaging biological samples due to the natural optical contrast between water and carbon. We characterized bilayer, trilayer, quadrilayer, and multilayer systems of Mg/Sc with ZrC thin layers introduced as a barrier layer and capping layer prepared by ion beam sputtering. The introduction of ZrC as a barrier layer is expected to improve the structure of the Mg/Sc system. The ZrC capping layer also prevents the stack from oxidation. The structural analysis of the Mg/Sc systems was carried out by using grazing incidence X-ray reflectivity (GIXRR) to obtain non-destructively a first description of the structural parameters, thickness, roughness, and density of the layers. Resonant soft X-ray reflectivity measurements in the vicinity of Sc L-absorption edge were performed to investigate and quantify the atomic distribution of deposited layers. Near absorption edge, the atomic scattering factor of an element changes sharply depending on its chemical environment inside the structure.

Keywords: buried interfaces, resonant soft X-ray reflectivity, X-ray optics, X-ray reflectivity

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Authors: Hisashi Imai, Kuan-Yu Chen, Katsuyoshi Kondoh, Hung-Yin Tsai, Junko Umeda

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Microstructural and electrical properties of copper-chromium alloy (Cu-Cr) dispersed with vapor-grown carbon fiber (VGCF) prepared by powder metallurgy (P/M) process have been investigated. Cu-0.7 mass% Cr pre-alloyed powder (Cu-Cr) made by water atomization process was used as raw materials, which contained solid solute Cr elements in Cu matrix. The alloy powder coated with un-bundled VGCF by using oil coating process was consolidated at 1223 K in vacuum by spark plasma sintering, and then extruded at 1073 K. The extruded Cu-Cr alloy (monolithic alloy) had 209.3 MPa YS and 80.4 IACS% conductivity. The extruded Cu-Cr with 0.1 mass% VGCF composites revealed a small decrease of YS compared to the monolithic Cu-Cr alloy. On the other hand, the composite had a higher electrical conductivity than that of the monolithic alloy. For example, Cu-Cr with 0.1 mass% VGCF composite sintered for 5 h showed 182.7 MPa YS and 89.7 IACS% conductivity. In the case of Cu-Cr with VGCFs composites, the Cr concentration was observed around VGCF by SEM-EDS analysis, where Cr23C6 compounds were detected by TEM observation. The amount of Cr solid solution in the matrix of the Cu-Cr composites alloy was about 50% compared to the monolithic Cu-Cr sintered alloy, and resulted in the remarkable increment of the electrical conductivity.

Keywords: powder metallurgy Cu-Cr alloy powder, vapor-grown carbon fiber, electrical conductivity

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Authors: R. G. Ariyawansa, M. A. N. R. M. Perera

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“House” is a powerful symbol of socio-economic background of individuals and families. In fact, housing provides all types of needs/wants from basic needs to self-actualization needs. This phenomenon can be realized only having analyzed hidden motives of buyers and sellers of the housing market. Hence, the aim of this study is to examine the socio-economic insight of the secondary housing market in Colombo suburbs. This broader aim was achieved via analyzing the general pattern of the secondary housing market, identifying socio-economic motives of sellers of the secondary housing market, and reviewing sellers’ experience of buyer behavior. A purposive sample of 50 sellers from popular residential areas in Colombo such as Maharagama, Kottawa, Piliyandala, Punnipitiya, and Nugegoda was used to collect primary data instead of relevant secondary data from published and unpublished reports. The sample was limited to selling price ranging from Rs15 million to Rs25 million, which apparently falls into middle and upper-middle income houses in the context. Participatory observation and semi-structured interviews were adopted as key data collection tools. Data were descriptively analyzed. This study found that the market is mainly handled by informal agents who are unqualified and unorganized. People such as taxi/tree-wheel drivers, boutique venders, security personals etc. are engaged in housing brokerage as a part time career. Few fulltime and formally organized agents were found but they were also not professionally qualified. As far as housing quality is concerned, it was observed that 90% of houses was poorly maintained and illegally modified. They are situated in poorly maintained neighborhoods as well. Among the observed houses, 2% was moderately maintained and 8% was well maintained and modified. Major socio-economic motives of sellers were “migrating foreign countries for education and employment” (80% and 10% respectively), “family problems” (4%), and “social status” (3%). Other motives were “health” and “environmental/neighborhood problems” (3%). This study further noted that the secondary middle income housing market in the area directly related with the migrants who motivated for education in foreign countries, mainly Australia, UK and USA. As per the literature, families motivated for education tend to migrate Colombo suburbs from remote areas of the country. They are seeking temporary accommodation in lower middle income housing. However, the secondary middle income housing market relates with the migration from Colombo to major global cities. Therefore, final transaction price of this market may depend on migration related dates such as university deadlines, visa and other agreements. Hence, it creates a buyers’ market lowering the selling price. Also it was revealed that the buyers tend to trust more on this market as far as the quality of construction of houses is concerned than brand new houses which are built for selling purpose.

Keywords: informal housing market, hidden motives of buyers and sellers, secondary housing market, socio-economic insight

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Authors: Anne Y. Faxer, Ellen Olausson, Jens Hagman, Ana Magazinius, Jenny J. Stier, Tommy Fransson, Oscar Enerback

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While electric vehicles (both battery electric vehicles and plug-in hybrids) have been on the market for around 6 years, they are still far from mainstream and the knowledge of them is still low among the public. This is likely one of the reasons that Sweden, having one of the highest penetrations of electric vehicles in Europe, still has a long way to go in reaching a fossil free vehicle fleet. Car dealerships are an important medium that connects consumers to vehicles, but somehow, their role in introducing electric vehicles has not yet been thoroughly studied. Research from other domains shows that salespeople can affect customer decisions in their choice of products. The aim of this study is to explore the role of car dealerships when it comes to promoting electric vehicles. The long-term goal is to understand how they could be a key in the effort of achieving a mass introduction of electric vehicles in Sweden. By emulating the customer’s experience, this study investigates the interaction between car salespeople and customers, particularly examining whether they present electric vehicles as viable options. Covert participatory observations were conducted for data collection from four different brands at in total twelve car dealers. The observers worked in pairs and played the role of a customer with needs that could be matched by an electric vehicle. The data was summarized in observation protocols and analyzed using thematic coding. The result shows that only one of twelve salespeople offered an electric vehicle as the first option. When environmental factors were brought up by the observers, the salespeople followed up with lower fuel consumption internal combustion engine vehicles rather than suggesting an electric vehicle. All salespeople possessed at least basic knowledge about electric vehicles but their interest of selling them were low in most cases. One of the reasons could be that the price of electric vehicles is usually higher. This could be inferred from the finding that salespeople tend to have a strong focus on price and economy in their dialogues with customers, regardless which type of car they were selling. In conclusion, the study suggests that car salespeople have the potential to help the market to achieve mass introduction of electric vehicles; however, their potential needs to be exploited further. To encourage salespeople to prioritize electric vehicles in the sales process, right incentives need to be in place.

Keywords: car dealerships, covert participatory observation, customer perspective , electric vehicle, market penetration

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Authors: Sylvain Fauveaux, T. Nowicki

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Lightning protection is nowadays applied worldwide since the advent of international standards. Lightning protection is widely justified by the casualties and damages involved. As a matter of fact, the lightning business is constantly growing as more and more sensible areas need to be protected. However, the worldwide demand of copper materiel is increasing as well, its price too. Furthermore, the most frequently used method of protection is consuming a lot of copper. The copper production is also consuming a large amount of natural and power resources, not to mention the ecologic balance.

Keywords: ESEAT, Lightning protection , natural resources management, NF C 17-102, sustainable development

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Authors: D. Mokatsanyane, J. Jansen Van Rensburg

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This paper analyses the influence and impact of COVID-19 on major agricultural commodity prices in South Africa. According to a World Bank report, the agricultural sector in South Africa has been unable to reduce the domestic food crisis that has been occurring over the past years, hence the increased rate of poverty, which is currently at 55.5 percent as of April 2020. Despite the significance of this sector, empirical findings concluded that the agricultural sector now accounts for 1.88 percent of South Africa's gross domestic product (GDP). Suggesting that the agricultural sector's contribution to the economy has diminished. Despite the low contribution to GDP, this primary sector continues to play an essential role in the economy. Over the past years, multiple factors have contributed to the soaring commodities prices, namely, climate shocks, biofuel demand, demand and supply shocks, the exchange rate, speculation in commodity derivative markets, trade restrictions, and economic growth. The COVID-19 outbursts have currently disturbed the supply and demand of staple crops. To address the disruption, the government has exempted the agricultural sector from closure and restrictions on movement. The spread of COVID-19 has caused turmoil all around the world, but mostly in developing countries. According to Statistic South Africa, South Africa's economy decreased by seven percent in 2020. Consequently, this has arguably made the agricultural sector the most affected sector since slumped economic growth negatively impacts food security, trade, farm livelihood, and greenhouse gas emissions. South Africa is sensitive to the fruitfulness of global food chains. Restrictions in trade, reinforced sanitary control systems, and border controls have influenced food availability and prices internationally. The main objective of this study is to evaluate the behavior of agricultural commodity prices pre-and during-COVID to determine the impact of volatility drivers on these crops. Historical secondary data of spot prices for the top five major commodities, namely white maize, yellow maize, wheat, soybeans, and sunflower seeds, are analysed from 01 January 2017 to 1 September 2021. The timeframe was chosen to capture price fluctuations between pre-COVID-19 (01 January 2017 to 23 March 2020) and during-COVID-19 (24 March 2020 to 01 September 2021). The Generalised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be used to measure the influence of price fluctuations. The results reveal that the commodity market has been experiencing volatility at different points. Extremely high volatility is represented during the first quarter of 2020. During this period, there was high uncertainty, and grain prices were very volatile. Despite the influence of COVID-19 on agricultural prices, the demand for these commodities is still existing and decent. During COVID-19, analysis indicates that prices were low and less volatile during the pandemic. The prices and returns of these commodities were low during COVID-19 because of the government's actions to respond to the virus's spread, which collapsed the market demand for food commodities.

Keywords: commodities market, commodity prices, generalised autoregressive conditional heteroscedasticity (GARCH), Price volatility, SAFEX

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Authors: Isara Muangthai, Lin Sue Jane

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Electricity is vital to every country’s economy in the world. For Thailand, the electricity generation sector plays an important role in the economic system, and it is the largest source of CO2 emissions. The aim of this paper is to use the decomposition analysis to investigate the key factors contributing to the changes of CO2 emissions from the electricity sector. The decomposition analysis has been widely used to identify and assess the contributors to the changes in emission trends. Our study adopted the Divisia index decomposition to identify the key factors affecting the evolution of CO2 emissions from Thailand’s thermal power sector during 2000-2011. The change of CO2 emissions were decomposed into five factors, including: Emission coefficient, heat rate, fuel intensity, electricity intensity, and economic growth. Results have shown that CO2 emission in Thailand’s thermal power sector increased 29,173 thousand tons during 2000-2011. Economic growth was found to be the primary factor for increasing CO2 emissions, while the electricity intensity played a dominant role in decreasing CO2 emissions. The increasing effect of economic growth was up to 55,924 million tons of CO2 emissions because the growth and development of the economy relied on a large electricity supply. On the other hand, the shifting of fuel structure towards a lower-carbon content resulted in CO2 emission decline. Since the CO2 emissions released from Thailand’s electricity generation are rapidly increasing, the Thailand government will be required to implement a CO2 reduction plan in the future. In order to cope with the impact of CO2 emissions related to the power sector and to achieve sustainable development, this study suggests that Thailand’s government should focus on restructuring the fuel supply in power generation towards low carbon fuels by promoting the use of renewable energy for electricity, improving the efficiency of electricity use by reducing electricity transmission and the distribution of line losses, implementing energy conservation strategies by enhancing the purchase of energy-saving products, substituting the new power plant technology in the old power plants, promoting a shift of economic structure towards less energy-intensive services and orienting Thailand’s power industry towards low carbon electricity generation.

Keywords: co2 emission, decomposition analysis, electricity generation, energy consumption

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Authors: Thapa M., J.P. Dutta, K.R. Pandey, R.R. Kattel

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Nepal is extremely vulnerable to the impact of climate change. To mitigate the climate change effects on agricultural production and productivity a range of adaptive strategies needs to be considered. The study was conducted to assess organic paddy production as a coping strategy to the adverse impact of climate change in Phulbari, VDC of Chitwan district. Altogether, 120 respondents (60 adopters of organic farming and 60 from non adopter) were selected using snowball technique of sampling. Pre- tested interview schedule, direct observation, focus group discussion, key informant interview as well as secondary data were used to collect the required information. Factors determining the adoption of organic farming were found to be age, year of schooling, training, frequency of extension contact, perception about climate change, economically active members and poor. A unit increase in these factors except poor would increase the probability of adoption by 4.1%, 7.5%, 7.8%, 43.1%, 41.8% and 7% respectively. However, for poor, it would decrease the probability of adoption of organic farming by 5.1%. Average organic matter content in the adopters' field was higher (2.7%) than the non-adopters' field (2.5%). The regression result showed that type of farmer, price and area under rice cultivation had positive and significant relationship with income; however dependency ratio had negative relationship. As the year of adoption of organic farming increases, the production of rice decline in the first two years then after goes on increasing but the cost of production goes on decreasing with the year of adoption. The respondents adapted to the changing climate through diversification of crops, use of resistance varieties and following good cropping pattern. Gradually growing consumers' awareness about health, preference towards quality food products are the strong points behind organic farming, whereas lacks of bio-fertilizers, lack of effective extension services, no price differentiation between organic and inorganic products were the weak points. There is need for more training and education to change the attitude of farmers and enhance their confidence about the role of organic farming to cope with climate change impact.

Keywords: Organic farming, climate change, sustainable development

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Authors: Saud Al Mahdi

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Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies.

Keywords: beta, alpha, active portfolio management, trading strategies

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Authors: Yooseo Pang, Jongwoong Choi, Yong Cho, Yongchae Jeong

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Climate crisis, such as environmental problems related to energy supply, is getting emerged issues, so the use of renewable energy is essentially required to solve these problems, which are mainly managed by the Paris Agreement, the international treaty on climate change. The government of the Republic of Korea announced that the key long-term goal for a low-carbon strategy is “Carbon neutrality by 2050”. It is focused on the role of the internet data centers (IDC) in which large amounts of data, such as artificial intelligence (AI) and big data as an impact of the 4th industrial revolution, are managed. The demand for the cooling system market for IDC was about 9 billion US dollars in 2020, and 15.6% growth a year is expected in Korea. It is important to control the temperature in IDC with an efficient air conditioning system, so hydrothermal energy is one of the best options for saving energy in the cooling system. In order to save energy and optimize the operating conditions, it has been considered to apply ‘the dam deep water air conditioning system. Deep water at a specific level from the dam can supply constant water temperature year-round. It will be tested & analyzed the amount of energy saving with a pilot plant that has 100RT cooling capacity. Also, a target of this project is 1.2 PUE (Power Usage Effectiveness) which is the key parameter to check the efficiency of the cooling system.

Keywords: hydrothermal energy, HVAC, internet data center, free-cooling

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Authors: Nuray Ucar, Pelin Altay, Ilkay Ozsev Yuksek

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Graphene oxide fibers have recently received increasing attention due to their excellent properties such as high specific surface area, high mechanical strength, good thermal properties and high electrical conductivity. They have shown notable potential in various applications including batteries, sensors, filtration and separation and wearable electronics. Carbon nanotubes (CNTs) have unique structural, mechanical, and electrical properties and can be used together with graphene oxide fibers for several application areas such as lithium ion batteries, wearable electronics, etc. Metals salts that can be converted into metal ions and metal oxide can be also used for several application areas such as battery, purification natural gas, filtration, absorption. This study investigates the effects of CNT and metal complex compounds (MnCl₂, metal salts) on the morphological structure of graphene oxide fibers. The graphene oxide dispersion was manufactured by modified Hummers method, and continuous graphene oxide fibers were produced with wet spinning. The CNT and MnCl₂ were incorporated into the coagulation baths during wet spinning process. Produced composite continuous fibers were analyzed with SEM, SEM-EDS and AFM microscopies and as spun fiber counts were measured.

Keywords: continuous graphene oxide fiber, Hummers' method, CNT, MnCl₂

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Authors: Karla Lienau, Rafael Müller, René Moré, Debora Ressnig, Dan Cook, Richard Walton, Greta R. Patzke

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The increasing demand for renewable energy sources and storable fuels underscores the high potential of artificial photosynthesis. The four electron transfer process of water oxidation remains the bottleneck of water splitting, so that special emphasis is placed on the development of economic, stable and efficient water oxidation catalysts (WOCs). Our investigations introduced cobalt carbodiimide CoNCN and its transition metal analogues as WOC types, and further studies are focused on the interaction of different transition metals in the convenient all-nitrogen/carbon matrix. This provides further insights into the nature of the ‘true catalyst’ for cobalt centers in this non-oxide environment. Water oxidation activity is evaluated with complementary methods, namely photocatalytically using a Ru-dye sensitized standard setup as well as electrocatalytically, via immobilization of the WOCs on glassy carbon electrodes. To further explore the tuning potential of transition metal combinations, complementary investigations were carried out in oxidic spinel WOC matrices with more versatile host options than the carbodiimide framework. The influence of the preparative history on the WOC performance was evaluated with different synthetic methods (e.g. hydrothermally or microwave assisted). Moreover, the growth mechanism of nanoscale Co3O4-spinel as a benchmark WOC was investigated with in-situ PXRD techniques.

Keywords: carbodiimide, photocatalysis, spinels, water oxidation

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Authors: Yu-Chen Luo, Wan-Tzu Yen, I-Ping Liu, Po-Hsuan Yeh, Yuh-Lang Lee

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The use of a Pt electrode leads to high catalytic efficiency in the ethanol electro-oxidation. However, the carbon monoxide (CO) released in the reaction will poison the Pt surfaces, lowering the electrocatalytic activity. In this study, composite electrodes are prepared to overcome the poisoning issue, and the related electro-oxidation behaviors are studied by surface-enhanced infrared absorption spectroscopy (SEIRAS) and cyclic voltammetry (CV). An electroless plating method is utilized to deposit Pt catalytic layers on the Pd film-coated FTO substrates. According to the SEIRAS spectra, the carbon dioxide signal of the Pt/Pd composite electrode is larger than that of the Pt one, whereas the CO signal of the composite electrode is relatively smaller. This result suggests that the studied Pt/Pd electrode has a better ability against CO poisoning. The CV analyses are conducted in alkaline environments, and current densities related to the ethanol oxidation in the forward scan (If) and to the CO poisoning in the backward scan (Ib) are measured. A higher ratio of If to Ib (If/Ib) usually represents a better ability against the poisoning effect. The If/Ib values are 2.53 and 2.07 for the Pt and Pt/Pd electrodes, respectively, which is possibly attributed to the increasing ability of CO adsorption of Pt electrode. Despite the lower If/Ib, the Pt/Pd composite electrode shows a higher ethanol oxidation performance in the alkaline system than the Pt does. Furthermore, its stability is also superior.

Keywords: cyclic voltammogram, electroless deposition, ethanol electro-oxidation, surface-enhanced infrared absorption spectroscopy

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Authors: Sangmo Jon, Ganghyok Kim, Kwanghyok Jong, Ilnam Jo, Hyangsun Kim, Kukhyon Pae, GyeChol Sin

Abstract:

The back contact dye solar cells (BCDSCs), in which the transparent conductive oxide (TCO) is omitted, have the potential to use intact low-cost general substrates such as glass, metal foil, and papers. Herein, we introduce a facile manufacturing method of a Ti back contact electrode for the BCDSCs. We found that the polylinkers such as poly(butyl titanate) have a strong binding property to make Ti particles connect with one another. A porous Ti film, which consists of Ti particles of ≤10㎛ size connected by a small amount of polylinkers, has an excellent low sheet resistance of 10 ohm sq⁻¹ for an efficient electron collection for DSCs. This Ti back contact electrode can be prepared by using a facile printing method under normal ambient conditions. Conjugating the new back contact electrode technology with the traditional monolithic structure using the carbon counter electrode, we fabricated all TCO-less DSCs. These four-layer structured DSCs consist of a dye-adsorbed nanocrystalline TiO₂ film on a glass substrate, a porous Ti back contact layer, a ZrO₂ spacer layer, and a carbon counter electrode in a layered structure. Under AM 1.5G and 100mWcm⁻² simulated sunlight illumination, the four-layer structured DSCs with N719 dyes and I⁻/I₃⁻ redox electrolytes achieved PCEs up to 5.21%.

Keywords: dye solar cells, TCO-less, back contact, printing, porous Ti film

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Authors: Shilpee Jain, Sachin Latiyan, Kaushik Suneet

Abstract:

Unlike traditional robots, medical microbots are not only smaller in size, but they also possess various unique properties, for example, biocompatibility, stability in the biological fluids, navigation opposite to the bloodstream, wireless control over locomotion, etc. The idea behind their usage in the medical field was to build a minimally invasive method for addressing the post-operative complications, including longer recovery time, infection eruption and pain. Herein, the present study demonstrates the fabrication of dual nature magneto-conducting Fe3O4 magnetic nanoparticles (MNPs) and SU8 derived carbon-based Janus microbots for the efficient intracellular delivery of biomolecules. The low aspect ratio with feature size 2-5 μm microbots were fabricated by using a photolithography technique. These microbots were pyrolyzed at 900°C, which converts SU8 into amorphous carbon. The pyrolyzed microbots have dual properties, i.e., the half part is magneto-conducting and another half is only conducting for sufficing the therapeutic payloads efficiently with the application of external electric/magnetic field stimulations. For the efficient intracellular delivery of the microbots, the size and aspect ratio plays a significant role. However, on a smaller scale, the proper control over movement is difficult to achieve. The dual nature of Janus microbots allowed to control its maneuverability in the complex fluids using external electric as well as the magnetic field. Interestingly, Janus microbots move faster with the application of an external electric field (44 µm/s) as compared to the magnetic field (18 µm/s) application. Furthermore, these Janus microbots exhibit auto-fluorescence behavior that will help to track their pathway during navigation. Typically, the use of MNPs in the microdevices enhances the tendency to agglomerate. However, the incorporation of Fe₃O₄ MNPs in the pyrolyzed carbon reduces the chances of agglomeration of the microbots. The biocompatibility of the medical microbots, which is the essential property of any biosystems, was determined in vitro using HeLa cells. The microbots were found to compatible with HeLa cells. Additionally, the intracellular uptake of microbots was higher in the presence of an external electric field as compared to without electric field stimulation. In summary, the cytocompatible Janus microbots were fabricated successfully. They are stable in the biological fluids, wireless controllable navigation with the help of a few Guess external magnetic fields, their movement can be tracked because of autofluorescence behavior, they are less susceptible to agglomeration and higher cellular uptake could be achieved with the application of the external electric field. Thus, these carriers could offer a versatile platform to suffice the therapeutic payloads under wireless actuation.

Keywords: amorphous carbon, electric/magnetic stimulations, Janus microbots, magnetic nanoparticles, minimally invasive procedures

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Authors: Talakokula Visalakshi

Abstract:

Concrete is the most commonly used construction material across the globe, its usage is second only to water. It is prepared using ordinary Portland cement whose production contributes to 5-8% of total carbon emission in the world. On the other hand the fly ash by product from the power plants is produced in huge quantities is termed as waste and disposed in landfills. In order to address the above issues mentioned, it is essential that other forms of binding material must be developed in place of cement to make concrete. The geo polymer concrete is one such alternative developed by Davidovits in 1980’s. Geopolymer do not form calcium-silicate hydrates for matrix formation and strength but undergo polycondensation of silica and alumina precursors to attain structural strength. Its setting mechanism depends upon polymerization rather than hydration. As a result it is able to achieve its strength in 3-5 days whereas concrete requires about a month to do the same. The objective of this research is to assess the performance of geopolymer concrete under sulphate and acid attack. The assessment is done based on the experiments conducted on geopolymer concrete. The expected outcomes include that if geopolymer concrete is more durable than normal concrete, then it could be a competitive replacement option of concrete and can lead to significant reduction of carbon foot print and have a positive impact on the environment. Fly ash based geopolymer concrete offers an opportunity to completely remove the cement content from concrete thereby making the concrete a greener and future construction material.

Keywords: fly ash, geo polymer, geopolymer concrete, construction material

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Authors: Ahmadreza Jabalameli, Mohammad Ebrahimpour Borujeni

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This study aims to evaluate the effectiveness of intensive short-term dynamic psychotherapy (ISTDP) on ambiguity tolerance, emotional intelligence and stress coping strategies in financial market traders. The methodology of this study was quasi-experimental, pre-test and post-test with control group. The statistical population of this study includes all students at Jabalameli Information Technology Academy in 2022. Among them, 30 people were selected by voluntary sampling through interviews, and were randomly divided into two experimental and control groups of 51 people. And the components were measured according to McLain Ambiguity Tolerance Questionnaire, Bar-On Emotional Intelligence and Lazarus Stress Coping Strategies. The data were obtained by SPSS software and were analyzed by using multivariate analysis of covariance. The results indicate that intensive short-term dynamic psychotherapy influences the emotional intelligence as well as the ambiguity tolerance of traders.

Keywords: ISTDP, ambiguity tolerance, trading, emotional intelligence, stress

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Authors: Rafayel K. Kostanyan

Abstract:

The opportunities of use of metallic magnesium as a generator of hydrogen gas, as well as thermal and electric energy is presented in the paper. Various schemes of magnesium application are discussed and power characteristics of corresponding devices are presented. Economic estimation of hydrogen price obtained by different methods is made, including the use of magnesium as a source of hydrogen for transportation in comparison with gasoline. Details and prospects of our new inexpensive technology of magnesium production from magnesium hydroxide and magnesium bearing rocks (which are available worldwide and in Armenia) are analyzed. It is estimated the threshold cost of Mg production at which application of this metal in power engineering is economically justified.

Keywords: energy, electrodialysis, magnesium, new technology

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Authors: Arunima Shukla, Vikas Almadi, Devesh Jaiswal, Sunil Saini, Bhusan S. Patil

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Lightning protection consists of three main parts; mainly air termination system, down conductor, and earth termination system. Earth termination system is the most important part as earth is the sink and source of charges. Therefore, even when the charges are captured and delivered to the ground, and an easy path is not provided to the charges, earth termination system would lead to problems. Soil has significantly different resistivities ranging from 10 Ωm for wet organic soil to 10000 Ωm for bedrock. Different methods have been discussed and used conventionally such as deep-ground-well method and altering the length of the rod. Those methods are not considered economical. Therefore, it was a general practice to use charcoal along with salt to reduce the soil resistivity. Bentonite is worldwide acceptable material, that had led our interest towards study of bentonite at first. It was concluded that bentonite is a clay which is non-corrosive, environment friendly. Whereas bentonite is suitable only when there is moisture present in the soil, as in the absence of moisture, cracks will appear on the surface which will provide an open passage to the air, resulting into increase in the resistivity. Furthermore, bentonite without moisture does not have enough bonding property, moisture retention, conductivity, and non-leachability. Therefore, bentonite was used along with the other backfill material to overcome the dependency of bentonite on moisture. Different experiments were performed to get the best ratio of bentonite and carbon backfill. It was concluded that properties will highly depend on the quantity of bentonite and carbon-based backfill material.

Keywords: backfill material, bentonite, grounding material, low resistivity

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Authors: Sheikh Mohammed Rafiul Huque

Abstract:

Bangladesh since its inception has been an economy that is fuelled by agriculture and agriculture has significant contribution to the GDP of Bangladesh. The agriculture of Bangladesh predominantly and historically dependent on organic sources of raw material though the place has taken in decades by inorganic sources of raw materials due to the high demand of food for rapidly growing of population. Meanwhile, a new market segment, which is niche market, has been evolving in the urban area in favor of organic products, though 71.1% population living in rural areas is dependent mainly on conventional products. The new market segment is search of healthy and safer source of food and they could believe that organic products are the solution of that. In Bangladesh, food adulteration is very common practices among the shop-keepers to extend the shelf life of raw vegetables and fruits. The niche group of city dwellers is aware about the fact and gradually shifting their buying behavior to organic products. A recent survey on organic farming revealed that 16,200 hectares under organic farming in recent time, which was only 2,500 hectares in 2008. This study is focused on consumer awareness of organic products and tried to explore the factors affecting organic food consumption among high income group of people. The hypothesis is developed to explore the effect of gender (GENDER), ability to purchase (ABILITY) and health awareness (HEALTH) on purchase intention (INTENTION). A snowball sampling was administered among the high income group of people in Dhaka city among 150 respondents. In this sampling process the study could identify only those samples who has consume organic products. A Partial Least Square (PLS) method was used to analyze data using path analysis. It was revealed from the analysis that coefficient determination R2 is 0.829 for INTENTION endogenous latent variable. This means that three latent variables (GENDER, ABILITY, and HEALTH) significantly explain 82.9% of the variance in INTENTION of purchasing organic products. Moreover, GENDER solely explains 6.3% and 8.6% variability of ABILITY and HEALTH respectively. The inner model suggests that HEALTH has strongest negative effect on INTENTION (-0.647) followed by ABILITY (0.344) and GENDER (0.246). The hypothesized path relationship between ABILITY->INTENTION, HEALTH->INTENTION and GENDER->INTENTION are statistically significant. Furthermore, the hypothesized path relationship between GENDER->ABILITY (0.262) and GENDER->HEALTH (-0.292) also statistically significant. The purpose of the study is to demonstrate how an organic product producer can improve his participatory guarantee system (PGS) while marketing the products. The study focuses on understanding gender (GENDER), ability (ABILITY) and health (HEALTH) factors while positioning the products (INTENTION) in the mind of the consumer. In this study, the respondents are found to care about high price and ability to purchase variables with loading -0.920 and 0.898. They are good indicators of ability to purchase (ABILITY). The marketers should consider about price of organic comparing to conventional products while marketing, otherwise, that will create negative intention to buy with a loading of -0.939. Meanwhile, it is also revealed that believability of chemical free component in organic products and health awareness affects health (HEALTH) components with high loading -0.941 and 0.682. The study analyzes that low believability of chemical free component and high price of organic products affects intension to buy. The marketers should not overlook this point while targeting the consumers in Bangladesh.

Keywords: health awareness, organic products, purchase ability, purchase intention

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Authors: Sudarshan Kalsulkar, Sunil S. Bhagwat

Abstract:

Biosorption is a physiochemical process that occurs naturally in certain biomass which allows it to passively concentrate and bind contaminants onto its cellular structure. Activated carbons (AC) are one such efficient biosorbents made by utilizing lignocellulosic materials from agricultural waste. Steam activated carbon (AC) was synthesized from Barley husk. Its synthesis parameters of time and temperature were optimized. Its physico-chemical properties like density, surface area, pore volume, Methylene blue and Iodine values were characterized. BET surface area was found to be 42 m²/g. Batch Adsorption tests were carried out to determine the maximum adsorption capacity (qmax) for various metal ions. Cd+2 48.74 mg/g, Pb+2 19.28 mg/g, Hg+2 39.1mg/g were the respective qmax values. pH and time were optimized for adsorption of each ion. Column Adsorptions were carried for each to obtain breakthrough data. Microbial adsorption was carried using E. coli K12 strain. 78% reduction in cell count was observed at operating conditions. Thus the synthesized Barley husk AC can be an economically feasible replacement for commercially available AC prepared from the costlier coconut shells. Breweries and malting industries where barley husk is a primary waste generated on a large scale can be a good source for bulk raw material.

Keywords: activated carbon, Barley husk, biosorption, decontamination, heavy metal removal, water treatment

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Authors: Glemarie C. Hermosa, Sheng-Jie You, Chien Chih Hu

Abstract:

Efficient separation technologies are required for the removal of carbon dioxide from natural gas streams. Membrane-based natural gas separation has emerged as one of the fastest growing technologies, due to the compactness, higher energy efficiency and economic advantages which can be reaped. The removal of Carbon dioxide from gas streams using membrane technology will also give the advantage like environmental friendly process compared to the other technologies used in gas separation. In this study, Polyimide membranes, which are mostly used in the separation of gases, are blended with a new kind of solvent: Deep Eutectic Solvents or simply DES. The three types of DES are used are choline chloride based mixed with three different hydrogen bond donors: Lactic acid, N-methylurea and Urea. The blending of the DESs to Polyimide gave out high permeability performance. The Gas Separation performance for all the membranes involving CO2/CH4 showed low performance while for CO2/N2 surpassed the performance of some studies. Among the three types of DES used the solvent Choline Chloride/Lactic acid exhibited the highest performance for both Gas Separation applications. The values are 10.5 for CO2/CH4 selectivity and 60.5 for CO2/N2. The separation results for CO2/CH4 may be due to the viscosity of the DESs affecting the morphology of the fabricated membrane thus also impacts the performance. DES/blended Polyimide membranes fabricated are novel and have the potential of a low-cost and environmental friendly application for gas separation.

Keywords: deep eutectic solvents, gas separation, polyimide blends, polyimide membranes

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Authors: Jameelah Omolara Yaqub

Abstract:

One of the main reasons for the existence of central bank is that it is believed that central banks have some influence on private sector decisions which will enable the Central Bank to achieve some of its objectives especially that of stable price and economic growth. By the assumption of the New Keynesian theory that prices are fully flexible in the short run, the central bank can temporarily influence real interest rate and, therefore, have an effect on real output in addition to nominal prices. There is, therefore, the need for the Central Bank to monitor, respond to, and influence private sector decisions appropriately. This thus shows that the Central Bank and the private sector will both affect and be affected by each other implying considerable interdependence between the sectors. The interdependence may be simultaneous or not depending on the level of information, readily available and how sensitive prices are to agents’ expectations about the future. The aim of this paper is, therefore, to determine whether the interdependence between asset prices and monetary policy are simultaneous or not and how important is this relationship. Studies on the effects of monetary policy have largely used VAR models to identify the interdependence but most have found small effects of interaction. Some earlier studies have ignored the possibility of simultaneous interdependence while those that have allowed for simultaneous interdependence used data from developed economies only. This study, therefore, extends the literature by using data from a developing economy where information might not be readily available to influence agents’ expectation. In this study, the direction of relationship among variables of interest will be tested by carrying out the Granger causality test. Thereafter, the interaction between asset prices and monetary policy in Nigeria will be tested. Asset prices will be represented by the NSE index as well as real estate prices while monetary policy will be represented by money supply and the MPR respectively. The VAR model will be used to analyse the relationship between the variables in order to take account of potential simultaneity of interdependence. The study will cover the period between 1980 and 2014 due to data availability. It is believed that the outcome of the research will guide monetary policymakers especially the CBN to effectively influence the private sector decisions and thereby achieve its objectives of price stability and economic growth.

Keywords: asset prices, granger causality, monetary policy rate, Nigeria

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