Wednesday, February 4, 2009

Curtain Drawn...

Steorn today revealed their new website with a video, along with already mentioned plans to open up Steorn's SKDB for a group of 300 Engineers. Also today, SteornLab launched with two products. Also today, Steorn has launched Steorn Enterprise, which includes licensing Orbo tech to the automotive and mobile industries, as well as offering up a new product entitled ZeroF Passive Magnetic Bearings.

In addition to the main headline, Steorn posted a few comments in the forums:

Big Oil Rep: So how much burn money you got left then Mr Steorn? Mr Ping says 2 months...unless you've recently raised more money?

Steorn: lol - no new funding, and Mr. Ping can't read a balance sheet it would seem ...

And last but not least, the story today made it's way to Engadget: Steorn returns, promises to open Orbo specs, give you a pony.

Conspicuously absent was any mention of a jury, or any hint at a demo.

Tuesday, February 3, 2009

Steorn's Curtain, along with some Finances and Patents

Steorn updated their website today with a rendering of a curtain, along with "4 February 2009". We'll learn more tomorrow, but this is probably the kick off of Steorn's 300 Engineers campaign mentioned by Sean in December.

Also, we learned that Steorn's financial statements were made avialable. I haven't had a chance to look at them yet, but according to 15-India-Street:

They lost 3,5 million in 2007, and still had some 4 million cash on 31 December.

Assuming the burnrate continued in 2008, they had only 0.5 million on 31 December 2008, with less than 3 months left. The end may be near, at last.
Finally, Steorn has submitted another patent application, SYSTEM AND METHOD FOR MEASURING ENERGY IN MAGNETIC INTERACTIONS. Here is a list of three patents that Steorn has submitted through the patent system so far.

Thanks to all the posters here for filling us in on the activity!