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.