Why are they even talking about whether the theory is correct or not?
Because
"...claims to have built a prototype power source that generates up to 1,000 times more heat than conventional fuel.
Often a prototype usually means it doesn't actually perform in net positive, but that the energy loss has been proved to occur in the generator framework rather than the generator core. Once this has been proven, the work then switches to refining the overall design. Just like we have 'fusion prototypes'.
Independent scientists claim to have verified the experiments..."
Who? Or is it whom? Apparently several other independant scientists have been having a fair amount of trouble recreating these results, which means it doesn't count as a breakthrough yet.
Considering this guy has been 'raising capital' since 1991, and there would need to be some fancy reason why all electrons don't just fall down to their new ground state straight away, I'd say this one is a bust.