The only reason 'Steorn Company' of Ireland, has
challenged any scientists that will listen, to evaluate and test their 'Magnetic Free Energy Device'
I would suggest the reason they placed a full page advert in 'The Economist' ......a Business magazine is to get short sighted Companies to invest money in their idea.
The company, Steorn, says its discovery is based on the interaction of magnetic fields and allows the production of clean, free and constant energy -- a concept that challenges one of the basic rules of physics.
I understand that they are using a form of linear shuttering which alternately shields and releases a magnetic field?
After some thought and giving them the benefit of doubt.....I would suggest that they MAY have possibly come up with a more efficient way of generating an electric current.
The usual method is by rotating a coil within an electric field. Or even by shaking a magnet within a coil, as per an LED flashlite currently on the market.
Prehaps thair 'alternate shuttering' is nothing more than a stepped annular ring made out of Mu metal, which is set spinning, between a magnet and coil.
A mobile phone can be activated by replacing its battery with a spring loaded lever and cog that drives a rotating coil. Not that I've ever seen one.
There is almost certainly a more efficient method of generating and storing an electrical current, just over the horizon. But it wont be free to violate the conservation of energy.
The most efficient moving item that I have ever seen is the rotating pendulum that drives the incredible perpetual "Atmos" clock. http://www.compadapt.com/atmos.html
You want to get rich? Make an existing item more efficient.