The system is water based and uses no chlorofluorocarbon refrigerant. Instead it uses water, but not like a swamp cooler. Their claim is a 40% energy savings. If they can make this into a consumer sized package it could be interesting.
https://news.nus.edu.sg/press-releases/water-based-air-con
https://news.nus.edu.sg/press-releases/water-based-air-con