New technology, possibly sparks the worlds biggest revolution?

[AussieU2fanman]

I was quite surprised to find this article on my regular vists to gizmag.com.
http://www.gizmag.com.au/home/
It basically states that a group of Irish Scientists have created a source of FREE, constant energy which is in direct violation of the law of conservation of Energy. It doesn't use steam, petroluem or even the sun to generate motion (although they haven't been candid about even the most rudimentary concepts of how it works which makes me a little dubious). Apparantly, this technology has already been verified by some academics, and he is now looking to get other scientists from around the world to publicly verify it.

If these claims are true, this will be the biggest revolution in the history of mankind as it will solve virtually every problem we have.

Here is their website, we will find out soon enough if these claims are true..... http://www.steorn.net/

 

[A_Wanderer]

Very, very, very, very , very, very, very, very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very , very, very, very, very ,very skeptical.

If it works then it ushers in a nobel prize and interstellar space travel.

 

[tommyvill]

Hmmmm....this doesn't ring very true to me...electromagnetic field are very very well known, it's like discover today something new about euclideian geometry...
Anyway, if this comes out to be true, well great troubles will arise in the control of this kind of power...
I don't believe it anyhow...

 

[AussieU2fanman]

I don't know, if it is total BS, then I can't see why they are getting some credible academics to verify it if it is a fraud. Is it just some stunt to quickly raise share price and steal investors money? They will be severely rebuked in the media if it turns out to be crap. They do seem to have some credibility looking at their history.
However, as an mechanical engineer (almost!) I can't for the love of me figure out how they could possibly do it (I don't know much about magnetic fields). Any ideas?

 

[A_Wanderer]

They could do it through poor methodology or outright fraud. I wonder if a scam like this could attract money.

 

[AussieU2fanman]

It could be powered by LOVE

 

[A_Wanderer]

The power of love is a function of neurochemical reactions in the mammalian brain and is very minor indeed

 

[tommyvill]

It surely attracts money, as Eire is one of the most developing EU economy (maybe is the only one here growing...)
In an economical "boom" situation, thias kind of announcement are more likely to be believed...
It doesn't matters if the techology actually works, they're actually trying to adopt a speculative strategy. They will leave with the money the hour before the announce of the 12 scientists...
The whole thing about the dozens of scientists who are seek to be the witness of this "scientific" triumph is an accurate planning to let the title fly in finantial markets before the inevitable fall...none ever remember those things once dimostrated that it's just hoax...
the company has nothing to lose from it, i've never heard of it, and probably will never hear it again...and the credibility thing...well it's just matters of
accuracy, if you wanna do a successful fraud, you gotta plan it hard...it must seem TRUE, you know...
believe me, this thing is more explicable thru economical basis that physical ones...
and stay away from the business!

 

[AussieU2fanman]

Several things to add to the speculation.
1) At the end of a radio interview, the question was asked, is it patented, to which the CEO of Steorn (the company behind it) said 'ummm it is patent pending.' If I was to make these claims, I would send a working model to the patent office to get it patented IMMEDIATELY before embarking on this marketing campaign.

2) They put up an add in the ECONOMIST instead of any respectable scientific magazine. If it is a fraud, they'd want to get as much money from investors as possible before they pull the plug and are exposed to the public, which means advestising in the economist.

3) Also, the people working in the company were all born raised and educated in Ireland

 

[mattgerth]

the return of the N-Machine

 

[ntalwar]

Several things to add to the speculation.
1) At the end of a radio interview, the question was asked, is it patented, to which the CEO of Steorn (the company behind it) said 'ummm it is patent pending.' If I was to make these claims, I would send a working model to the patent office to get it patented IMMEDIATELY before embarking on this marketing campaign.

2) They put up an add in the ECONOMIST instead of any respectable scientific magazine. If it is a fraud, they'd want to get as much money from investors as possible before they pull the plug and are exposed to the public, which means advestising in the economist.

"Patent pending" is common because the patent office can take a long time to issue a patent. Legally, it should hold up if someone else tries to get a duplicate patent.

The Economist is not the best place to look for venture capital either - there are many better financial journals out there.

 

[AussieU2fanman]

"Patent pending" is common because the patent office can take a long time to issue a patent. Legally, it should hold up if someone else tries to get a duplicate patent.

The Economist is not the best place to look for venture capital either - there are many better financial journals out there.

It would make sense to have it patented before these claims are made so it is given much more credence.

Any other journal to advertise in was probably too expensive for them given their level of debt.

 

[ntalwar]

It would make sense to have it patented before these claims are made so it is given much more credence.

Any other journal to advertise in was probably too expensive for them given their level of debt.

A patent can take over two years to obtain, and does not lend credibility to an invention. Many patented items are jokes.
The credibility will come from other respected scientists who can verify the results. Already, over 400 scientists have applied to test it:
http://observer.guardian.co.uk/uk_news/story/0,,1854305,00.html

At this point, they seem to be searching for scientific validation, not funding.

The Economist charged something like $160K euros for a full page ad. The world of venture capital works a bit differently, with companies making pitches to VC firms to receive funding - a lot of it is done quietly and without ads.

 

[AussieU2fanman]

There's a 95% chance in my mind it's a scam, I'm just trying to figure out what type! But a 5% chance at the biggest invention since the wheel seems decent.

 

[AussieU2fanman]

looking at the website, the most conspicuous thing there is a space for you to type in your email adress to recieve results of the study......could it be a datacapture scam?

 

[INDY500]

Cold fushion redux?

 

[AliEnvy]

If there is anything real to this, everyone better brush up on their Asian languages...the economic/political/superpower playing field would be levelled pretty quickly.

Although this smells like Bre-X to me...anyone here remember that Canadian gold scandel in the 90s? If it sounds to good to be true, usually means it is.