Steorn In €50 Million A Year HephaHeat Bonanza
On July 20 I mentioned in this blog that physicist Brian Ahern had proposed asymmetric magnetism as the basis for LENR. Steorn, an engineering firm in Dublin, had previously claimed that its Orbo power generation technology operated through the application of asymmetric magnetism. The Sunday Times Ireland's business section recently contained a surprising new article on intellectual property development firm Steorn.
As reported in truthfall.com, "Their HephaHeat hot water boiling technology looks certain to reinvigorate the company's finances with two multinational companies seeking to incorporate HephaHeat into consumer and commercial products netting Steorn royalties of around €50 Million per annum by 2017."
Sunday Times Ireland reported...
"The Dublin technology company that claimed it could produce energy from nothing says that it has signed collaboration agreements with two large multinational manufacturers writes Tim Madigan."
The agreements cover the design work required to incorporate Steorn's HephaHeat technology into products that use steam and hot water.
This development marks the first time consumer product manufacturers have considered using HephaHeat in their designs.
Steorn courted controversy by placing an advert in the Economist in 2006 inviting scientists to inspect its Orbo technology, which it claimed produced "free, clean and constant energy".
A two-year verification process overseen by a scientific jury concluded that Steorn has "not shown any evidence of energy production".
The manufacturers, more convinced of the technology's potential, are keen to enter into a design phase with the company.
HephaHeat is the tradename for Orbo in heating applications.
Steorn has raised 19 million Euros from investors to date according to Sean McCarthy, Steorn's chief executive. Recently filed accounts show accumulated losses had reached 17.2m by the end of 2010.
If manufacturers include HephaHeat in their products, a license agreement is envisaged which would provide a royalty fee for each product sold.
HephaHeat technology is designed for electric water-heating products aimed at the domestic and commercial water-heating industry.
McCarthy claims that royalty fees from these agreements could be bringing in up to 50 million a year by 2017 if these deals progress beyond the design stage."
Steorn will provide E-Cat, Defkalion and other LENR manufacturing firms with competition from their technology which may also employ LENR, but by another name.