The inaugural Prime Minister's Science Prize has been awarded to two scientists whose work has helped put New Zealand on the map.

Dr Jeff Tallon and Dr Bob Buckley of Industrial Research Limited will receive half a million dollars, for their research and commercialisation activity in the field of high-temperature superconductors.

Dr Buckley says a coil of superconducting wire allows the flow of electricity, with no loss of energy, which has a variety of applications.

"You can use those coils in generators, in motors. And they can be very much smaller and more compact and more powerful, lighter."

Dr Buckley says the prize is a significant honour, and recognises their work using cutting-edge science to create a world-leading industry. He says industries related to superconductor technology developed over the next decade could potentially pull in $100 million in revenue.

"The nice thing about this is that it's R&D intensive. It's knowledge intensive. The products are smaller and lighter and conventional so shipping them is not going to be a problem. And there's no reason why in New Zealand we can't do the design work and the development work right here."

Dr Buckley expects most of the prize money will be invested in new equipment, so they can take on a broader range of projects.

A Morrinsville College teacher has also been rewarded, for his work making science popular again. Dr Paul Lowe, who has developed new teaching programmes, has received the inaugural Prime Minister's Science Teacher Prize.

Dr Lowe believes problem solving-based learning is the future of education in New Zealand. He says students are curious and will engage if a subject is made interesting enough for them.

The teacher says $100,000 of the $150,000 prize will go to the school. It will be spent on setting up a second lab which can better accommodate students working in teams, as well as Apple Mac laptops for the science department, so students can access computers in the classroom.