It claims the technology can be used to supply energy for virtually all devices, from mobile phones to cars.

Steorn issued its challenge through an advertisement in the Economist magazine this week quoting Ireland's Nobel prize-winning author George Bernard Shaw who said that "all great truths begin as blasphemies".

Sean McCarthy, Steorn's chief executive officer, said they had issued the challenge for 12 physicists to rigorously test the technology so it can be developed.

"What we have developed is a way to construct magnetic fields so that when you travel round the magnetic fields, starting and stopping at the same position, you have gained energy," McCarthy said.

"The energy isn't being converted from any other source such as the energy within the magnet. It's literally created. Once the technology operates it provides a constant stream of clean energy," he told Ireland's RTE radio.

McCarthy said Steorn had not set out to develop the technology, but "it actually fell out of another project we were working on".

One of the basic principles of physics is that energy can neither be created nor destroyed, it can only change form.

McCarthy said a big obstacle to overcome was the disbelief that what they had developed was even possible.

"For the first six months that we looked at it we literally didn't believe it ourselves. Over the last three years it had been rigorously tested in our own laboratories, in independent laboratories and so on," he said.

"But we have been unable to get significant scientific interest in it. We have had scientists come in, test it and, off the record, they are quite happy to admit that it works.

"But for us to be able to commercialise this and put this into peoples' lives we need credible, academic validation in the public domain and hence the challenge," McCarthy said.

Related Links
Powering The World in the 21st Century