London, Feb. 1 (Jiji Press)--The 2022 Queen Elizabeth Prize for Engineering will be awarded to Japanese scientist Masato Sagawa for his development of the world's most powerful permanent magnet, the organizer of the prize said Tuesday.

The development of the sintered neodymium-iron-boron magnet was transformational in its contribution toward enabling cleaner, energy-saving technologies, the Queen Elizabeth Prize for Engineering Foundation said.

"I am...honored to be part of the engineering profession's contribution toward the fight against climate change, and equally as honored to receive this unique prize," said Sagawa, the 78-year-old adviser to Japan's Daido Steel Co. , in a statement. He will receive 500,000 pounds.

In 1982 when he was a researcher at Japan's Fujitsu Ltd. , Sagawa developed the permanent magnet using iron and neodymium instead of more scarce and expensive cobalt and samarium.

The magnet has become a crucial industrial material with wide applications such as mobile phones, electric vehicles, wind turbines and robots.

[Copyright The Jiji Press, Ltd.]