What a shame the $300,000 was not directed into scientific research instead. The internet is the snake oil salesman's dream.
Be careful regarding latent heat. Gas to liquid phase change is a release of energy (hydrogen bonds formed = energy release). On the surface of it, then why would we need to input energy? Because we need to cool and dump the heat somewhere (including most of the energy we put in to doing that!). This is why anybody that has had anything to do with Peltier cooling knows that you need 'big' surface areas and 'big' energy (pumps for liquid cooling or fans for air cooling) to make 'much' difference. (It is why domestic refrigerators still do not, generally, use Peltier cooling; it is not practically very efficient. Sure, they are now used for 'beer coolers' but these can only manage a few degrees of temperature change and the costs and practical manufacturing aspects work out better for a Peltier cooler + heatsink + fan compared to a pump + pressurised (special) gas fridge system.)
It is quite an interesting topic. For example, consider if it is possible to actually use the energy generated from the phase change to dump the excess energy (e.g. drive fans)! It is some nice physics that brings in thermodynamics, heat engines and, importantly, practicalities for an engineer. The inefficiencies of energy conversion will/may (never say never) sting you every time.
In summary, dumping the heat energy generated from changing water vapour to liquid (through cooling) requires energy but how much is not immediately apparent simply from a latent heat calculation. See heat engines. But absolutely, this device concept appears to be rubbish; primarily because of the practical cooling required and the scarcity of water in air.