For those that haven't heard of this company, Steorn is an Irish technology business that claims to have developed a simple device that generates clean, constant and free energy. Last year, the company placed a full page ad in the Economist inviting the worlds leading scientists to test the device and report their findings. These results are due for release in a few months. The device is reported to use permenant magnets spinning at 90 degrees to each other. It has also been reported that they are already moving into full scale production of these units. They claim the device can be scaled up or down to power everything from mobile phones and laptops through to cars and ships. If this is real, it will collapse the world's energy markets. This could turn out to be the greatest shorting opportunity of all time. I recommend you all get prepared for April. There have been many companies who have claimed such things before but there is something really different about Steorn. I think this could turn out to be the real thing. There web address is http://www.steorn.com This is the latest press release issued by the company: Dublin, 11th January 2007: Steorn, the Irish technology development company, has today announced that its free energy technology will be made widely available to the development community immediately after the independent scientific validation process that is currently underway. Under the terms of a modified general public licence and for a nominal fee, Steorn's intellectual property will be made available concurrently to all interested parties, from individual enthusiasts to larger research organisations. Steorn is taking this bold move to accelerate the deployment and acceptance of its technology for both humanitarian and commercial products. Steorn's technology is based on the interaction of magnetic fields and allows the production of clean, free and constant energy. The technology can be applied to virtually all devices requiring energy, from cellular phones to cars. Steorn placed an advertisement in The Economist in August 2006 to attract the attention of the world's leading scientists working in the field of experimental physics. It has now completed the selection of its jury of scientists who have embarked on the testing of the technology prior to publishing their results worldwide. Sean McCarthy, CEO of Steorn, commented: "We have experienced enormous levels of interest in our free energy technology from the product development community. "Experience tells us that opening up access to technology to all interested parties via the internet allows for rapid third party development. We believe that our technology can have a profound impact on people's lives and are confident that the delivery of our intellectual property via this type of online development and engineering support environment will lead to the rapid deployment of all kinds of different products."
Believe me, him, his family, his sister, and his pet dog would all be 6 feet under if that was the case.
SethArb, No I'm not short yet. If I was going to trade it, I would only do so once the market showed signs of weakness. I'm not saying its a new article. I'm saying that April is not that far away. Runningbear
Apart from the obvious benefits to humanity this would usher in a global bull market that would make the dot com bubble look like a pimple on the charts. If it is for real you would think that the US would be 1st in line to protect and render any assistence. Make them an offer Uncle Sam, $100B if it checks out!
Not to mention that I'll never have to recharge my ipod again. Seriously though, one of the biggest benefits to humanity would be economical water desalination. Deserts could be converted into forests. Food production would increase exponentially. The benefits would go way beyond convenience and savings. Not to mention and end to burning fossil fuels. Runningbear
Permanent magnets are usually made of neodymium. Magnet producers would obviously represent a long opportunity as well. As would mining companies that mine these types of rare earth metals used in their manufacture. Runningbear