Is there a form of energy that can produce limitless, non-polluting, and cost effective electrical power generation?

Well the answer is “Yes,” according to some technology entrepreneurs at a company called the Inductance Energy Corporation (IEC). They believe they have found such a remarkable source — and it involves the use of magnets.

As reported recently in the Wall Street Journal, IEC has “invented a magnetic generator, a flywheel system that extracts usable energy from the interplay of exotic magnets—also known as a free-energy device, a cousin to the fabled perpetual-motion machine.”

The process works by employing magnets that are considered “anisotropic,” that is, their North-South field is stronger on one face than the other. These magnets are then placed into three black towers that can interact with other ones put into counter-rotating “flywheels.” Once this contraption is put into motion, the net force of its magnetic force imparts angular momentum to the flywheels that can then be harvested, mechanically or electrically.

The big problem is not producing the energy itself, company officials say, but in storing the electricity in powerful enough batteries to make it useful.

Not everyone in the scientific field, of course, is sold on this concept. But IEC has received enough financial backing to continue its research … at least for now.

Naturally, the ultimate question is “will it work?” IEC claims it already does, and you can view their contraption for yourself, dubbed the Earth Engine, online at their website.