As the article is dated 2003 and there is no information on the product on the developers website (the products range they have seems to use similar technologies in different applications), I would suspect the product is not going anywhere fast, whether for technical or commercial reasons.
Depending on how much steam you need to generate and how hot the steam needs to be, you may need a relatively large boiler and feed system with significant amounts of insulation. I think they have glossed over the challenges of generating steam from sea water as well.
I suspect it would be difficult to keep the thermal losses below the thermal and mechanical losses in an IC engine.
On the plus side though, it has the potential to be a lot more flexible on fuel type and fuel quality.