Volatility (chemistry)In chemistry, volatility is a material quality which describes how readily a substance vaporizes. At a given temperature and pressure, a substance with high volatility is more likely to exist as a vapour, while a substance with low volatility is more likely to be a liquid or solid. Volatility can also describe the tendency of a vapor to condense into a liquid or solid; less volatile substances will more readily condense from a vapor than highly volatile ones.
Isopropyl alcoholIsopropyl alcohol (IUPAC name propan-2-ol and also called isopropanol or 2-propanol) is a colorless, flammable organic compound with a pungent alcoholic odor. As an isopropyl group linked to a hydroxyl group (chemical formula ) it is the simplest example of a secondary alcohol, where the alcohol carbon atom is attached to two other carbon atoms. It is a structural isomer of propan-1-ol and ethyl methyl ether. They all have the formula .
ExergyFrom a scientific and engineering perspective, second-law based exergy analysis is valuable because it provides a number of benefits over energy analysis alone. These benefits include the basis for determining energy quality (or exergy content), enhancing the understanding of fundamental physical phenomena, and improving design, performance evaluation and optimization efforts. In thermodynamics, the exergy of a system is the maximum useful work that can be produced as the system is brought into equilibrium with its environment by an ideal process.
OxygenateOxygenated chemical compounds are hydrocarbons which contain at least one oxygen atom as a part of their chemical structure. The term often refers to oxygenated chemical compounds added to fuels. Oxygenates are usually employed as gasoline additives to reduce carbon monoxide and soot that is created during the burning of the fuel. Compounds related to soot, such as polyaromatic hydrocarbons (PAHs) and nitrated PAHs, are also reduced. The most common oxygenates are either alcohols or ethers.
Air source heat pumpAn air source heat pump (ASHP) is a type of heat pump that can absorb heat from outside a structure and release it inside using the same vapor-compression refrigeration process and much the same equipment as air conditioners but used in the opposite direction. Unlike an air conditioning unit, most ASHPs are reversible and are able to either warm or cool buildings and in some cases also provide domestic hot water. In a typical setting, an ASHP can gain 4 kWh thermal energy from 1 kWh electric energy.
Heat recovery steam generatorA heat recovery steam generator (HRSG) is an energy recovery heat exchanger that recovers heat from a hot gas stream, such as a combustion turbine or other waste gas stream. It produces steam that can be used in a process (cogeneration) or used to drive a steam turbine (combined cycle). HRSGs consist of four major components: the economizer, evaporator, superheater and water preheater . The different components are put together to meet the operating requirements of the unit.
Implied volatilityIn financial mathematics, the implied volatility (IV) of an option contract is that value of the volatility of the underlying instrument which, when input in an option pricing model (such as Black–Scholes), will return a theoretical value equal to the current market price of said option. A non-option financial instrument that has embedded optionality, such as an interest rate cap, can also have an implied volatility. Implied volatility, a forward-looking and subjective measure, differs from historical volatility because the latter is calculated from known past returns of a security.
Volatility smileVolatility smiles are implied volatility patterns that arise in pricing financial options. It is a parameter (implied volatility) that is needed to be modified for the Black–Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money.
Stirling engineA Stirling engine is a heat engine that is operated by the cyclic compression and expansion of air or other gas (the working fluid) between different temperatures, resulting in a net conversion of heat energy to mechanical work. More specifically, the Stirling engine is a closed-cycle regenerative heat engine, with a permanent gaseous working fluid. Closed-cycle, in this context, means a thermodynamic system in which the working fluid is permanently contained within the system.
Algae fuelAlgae fuel, algal biofuel, or algal oil is an alternative to liquid fossil fuels that uses algae as its source of energy-rich oils. Also, algae fuels are an alternative to commonly known biofuel sources, such as corn and sugarcane. When made from seaweed (macroalgae) it can be known as seaweed fuel or seaweed oil. In December 2022, ExxonMobil, the last large oil company to invest in algae biofuels, ended its research funding. In 1942 Harder and Von Witsch were the first to propose that microalgae be grown as a source of lipids for food or fuel.
Enhanced oil recoveryEnhanced oil recovery (abbreviated EOR), also called tertiary recovery, is the extraction of crude oil from an oil field that cannot be extracted otherwise. Although the primary and secondary recovery techniques rely on the pressure differential between the surface and the underground well, enhanced oil recovery functions by altering the chemical composition of the oil itself in order to make it easier to extract. EOR can extract 30% to 60% or more of a reservoir's oil, compared to 20% to 40% using primary and secondary recovery.
Volatility (finance)In finance, volatility (usually denoted by σ) is the degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option).
