This is pseudoscience. Both electrolysis and combustion lose energy to rejected heat. Efficiency is bounded by the Carnot limit. One can't repeal the laws of physics to get energy from nowhere.
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Then it might do well for using it as a heat source. I want to try and use this technology to heat greenhouses in the winter. When my solar panels can't store any more energy in batteries the unused energy will go to making hydroxyl gas that will be stored and later fed in with the butane we burn now. This will heat sand mixed with a bit of platinum dust inside an aluminum shaft to radiate the heat produced.