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Hmmm, interesting press release
Now that I think about it I have to admire the guy in any case. As I see it there are 3 possibilities:
1. He's simply pulling a "free energy" scam. If so, this has to be one of the biggest cons of all time considering the funding he has and the high-profile backers he has on his board. Reprehensible, but also admirable in a weird way.
2. He's completely wrong but honestly believes in what he's doing. At least he's providing gainful employment to a bunch of scientists and technicians, and who knows, maybe they'll discover something useful along the way.
3. He's right, some of the biggest names in physics are wrong, and he's onto a source of nearly free energy. As I said I think this is by far the least likely scenario, but if it's real, he will instantly be elevated to Einstein-like status.
Now I'm kind of interested, I'll have to do some reading...