Free-energy company Steorn to tap up investors again

Company has replaced founder Shaun McCarthy as chief executive

Steorn founder Shaun McCarthy has been replaced as chief executive

Steorn, the physics-defying free-energy company which has raised more than €23 million since it was founded, has told investors it is out of cash and facing wind-up unless it raises yet more money.

Steorn met global ridicule in 2007 when it failed spectacularly in its efforts to overturn the fundamental laws of thermodynamics in a public demonstration in London.

Last month, in a letter to shareholders, it told investors that it would be ...