Too good to be true?

Steorn, an Irish technology firm, has issued a challenge to the scientific world. It claims to have discovered a method for obtaining free energy and is inviting scientists to examine the invention and publish their conclusions. CEO Sean McCarthy says when he attempted to discuss the discovery with scientists they either hung up on him or refused to endorse him publicly, so he inserted an ad in the Economist challenging the skeptics to examine the technology for themselves. His company, he insists, has created a constant stream of clean, free energy from the interaction of magnetic fields.

It rather sounds like this would violate the first law of thermodynamics, but to hell with the law, we're desperate.