 In May 2006, "The Sunday Business Post" reported that Steorn was a former dot-com company which was developing a microgenerator product based on the same principle as self-winding watches, as well as creating e-commerce websites for customers.The company had also recently raised about €2.5 million from investors and was three years into a four-year development plan for its microgenerator technology.Steorn later stated that the account given in this interview was intended to prevent a leak regarding their free energy technology.