I'm tempted to start a "why, oh why" file just for this thing.
The details are sparse, but the general idea is that it takes electricity, uses it to produce hydrogen and oxygen from water via electrolysis, then burns the hydrogen to create electricity.
This is a notoriously wrong idea.
Electrolysis is notoriously inefficient, hydrogen is notoriously difficult to store, burning hydrogen is notoriously a waste of an expensive commodity.
I would be very surprised if they have a round trip efficiency of greater that 15%.
The good news is that they claim all of the funding is private, so at least their money isn't coming from taxes.
My favorite quote from the article:
"We're the first company that had the foresight to jump on creating a combinatory system and putting the pieces together to make it viable for the public and for electrical generation"
I'm not sure if "foresight" is quite the word I would have chosen. The "excess of money and dearth of sense" is closer.