MOSCOW, April 29, 2012 /PRNewswire/ -- Research in the field of cryogenics has received high acclaim from the international scientific community. This is shown by the fact that renowned experts and innovators in this area were presented with one of the world's most respected awards in energy science, The Global Energy Prize. The 2012 laureates are two outstanding Russian scientists – Russian Academy of Sciences (RAS) academician Valery Kostyuk and Russian Academy of Sciences academician Boris Katorgin – and an eminent British professor, Rodney J. Allam. The names of the laureates of the 10th edition of the Global Energy Prize were announced last week at the official awards ceremony held in Moscow on 20 April. The prize winners and the results of their scientific research will set the tone for future landscape of the industry and the most pressing industrial issues. "Research in the cryogenic area is underscored by the demand for very specific needs of a range of applications like aerospace, automotive, food and beverage, storage, transportation etc. This is particularly true for the energy sector whereby an innovative approach is being developed to store renewable energy leveraging cryogenic platform whose liquid air energy storage could be up to 70% efficient and cost effective too. Another area of development has been leveraging cryogenic CO2 capture using cold energy from Liquified Natural Gas (LNG)," states Director Ankit Shukla, Frost & Sullivan Technical Insights Group. The International Award Committee gave an upbeat assessment of RAS academician Boris Katorgin. He was awarded a prize for his cycle of research and development on high efficiency liquid rocket engines which run on cryogenic fuel and oxidant, cryostatic systems and high-conductivity devices. "I can say that Russian rocket engines definitely enjoy demand on the global market. We sell a high-tech ready-made product which is assembled in Russia and has high added value," Mr. Katorgin said. "The development of new processes and equipment to produce gases and cryogenic liquids, and also the development of technologies which use them to generate electric power in energy systems is the second most important topic," said both RAS Academician Valery Kostyuk and UK professor Rodney J. Allam, whose meritorious efforts were noted in this field of research. "State investments will be required in order to put cryogenic technology to practical use in high-temperature superconductor materials, and a project aimed at rolling out high conductivity electric power lines looks particularly promising," said RAS Academician Valery Kostyuk in his presentation.