a.ashfield wrote:

"With known science the only way it could work is by using up the potential 
energy of the permanent magnets"

I think the energy related to permanent magnets are overstated. A NdFeB magnet 
can be demagnetized easily by heating without a spectacular energy outcome. 
From entropic view this process could be even endothermic, the energy stored in 
magnet could be negative.
We may ask such a question in physics stackexchange.
I expect a detailed report from TU/e soon which contain power and energy 
figures.

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