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To my knowledge it's not toxic and only requires heat to reform regardless of it's form. I had a kit once that used a band of Nitinol wound like a spring. You would wind it around this wheel system such that one end could be submerged in cold water and the other could be submerged in hot. The thing would take off like a shot and spray water everywhere. Still, pretty neat.

Tags for this video have been changed from 'nitinolo, memory, science, metal' to 'nitinol, memory, science, metal' - edited by BoneyD