A system, structure, and method of making the structure are disclosed for generating a large chemical potential difference between spin-up and spin-down electrons in non-magnetic materials. The device includes an inverse spin valve of a sandwiched layer structure with alternating non-magnetic and magnetic layers. In an embodiment of the invention, the structure is a tri-layer device with a magnetic layer sandwiched by two non-magnetic metals. Once the inverse spin valve structure is provided, an external electric field is applied to the inverse spin valve to generate a large chemical potential difference between the spin-up and spin-down electrons. In an embodiment of the invention, this feature is exploited to create a tunable light emitting diode or laser. In an embodiment of the invention, a dynamical magnetism is induced and controlled in the valve by an electric field. The dynamical magnetization may be used as spin source, or in electronic storage devices.