Your process still requires an electrolysis step. It's basically claiming that they can extract CO2 alongside the hydrogen, allowing for either the Sabatier or

Your process still requires an electrolysis step. It's basically claiming that they can extract CO2 alongside the hydrogen, allowing for either the Sabatier or Fischer-Tropsch process to make hydrocarbons in a relatively cost effective way. For it to work, it will require the ability to make hydrogen at extremely low cost. So in practice, it is likely to just be part of the hydrogen economy.