I just read the web site. It’s what’s otherwise called an “Active Power Factor Corrector”.
http://en.wikipedia.org/wiki/Power_factor_correction
But it’s not going to save you the kind of money they say unless you have a house full of lightly loaded induction motors or a lot of rectifier loads that don’t have built in PFC. For example, the computer at which you are reading this post almost certainly has PFC built in.
Many thanks for the explanation. It might save electricity in an industrial setting