It seems like the kind of high risk thing VC money should be thrown at. It would be cool to see more research into cold fusion, too. The well was poisoned back in the eighties and the field never recovered.
This is definitely cool, and "if" something come out of it, it will be huge. I am a bit skeptical they'll have a product in a few years, but it is possible that they can find important pieces of the puzzle, that could later be sold and reused by another company.