Well, you beat me to it.
Early bird catches the worm :-) I saw this on TV too ("Tomorrow's World" here in the UK"), the thing I remember was them having trouble with the wind, and having to be careful to time their "flights" so as not to fry any satellites passing overhead!
Scientific American article here on new methods of spaceflight. (click the "box" link on page 6 of the article for some more details specific to Myrabo's scheme)