It's being hailed as the first Continuously Variable Transmission that's light enough, and reliable enough for use on bicycles. If you call 4.2 kg light!
They're calling it a CVP or Continuously Variable Planetary Transmission.
The 350% range beats most 8 speed internally geared hubs, but is still a long way behind the range provided by a Rolhoff. It's equivalent to an 11-38 cassette.
The manufacturer expects the price to "be competitive with internally geared hubs currently on the market". I expect that means closer to Rohloff than Nexus.
For small wheels, the large flanges (150mm) present a challenge, with short spokes and big angles. I'm not a wheel builder, but I it looks like it's feasible.
New transmission CVT design by BitRaptor. Is a continuously variable transmission CVT gear only (the only one functional in the world), very compact and lightweight, and which could replace the current systems both for efficiency, simplicity and not least the costs.
Because this CVT work only with pinions is better the all other systems by efficiency and high torque transmission.
In the web page you will find more explanations, drawings and a short video of a basic prototype.
http://www.bitraptor.com/en_edyson_CVT.html
http://www.bitraptor.com/en_andeguro_bike.html
The first prototype will be ready for tests during this year.
Other possible applications CVT design by BitRaptor are: bicycles, motorcycles, cars, automobils, boats, gearboxes, electric motors, steam and wind turbine, as well as a large number of industrial or agriculture applications whenever is necessary some adjustment of the gear ratio.