As explained by TechPowerUp, which witnessed the cooler in action, this closed loop AiO cooler has no moving parts. Rather the heatsink warming up induces the specially formulated cooling fluid within to flow around the close loop. Thus the system doesn't require a pump (potential for noise and failure) and eschews cooling fans in the radiator portion, cutting out another potential noise/moving parts failure source.
The liquid flows thanks to the same science behind how heat-pipes work. TPU elaborates; "Heat from the source (your CPU) causes the special coolant to change phase to vapour, move to the heat-exchanger (radiator), where it condenses back to liquid, and flows back down to the block." Another report on the cooler by BitTech informs us that the "special coolant boils at under 40°C, and different sized pipes to create a pressure imbalance and force the liquid to evaporate in one direction only and thus generate flow."
Sounds interesting. Not like modern coolers with aftermarket fans are anything near loud, but the applications for a passive liquid cooler for closet servers, not to mention tiny form factor HTPCs where even a low decibel level is audible, are definitely there. There's also the OEM market to consider, especially if the price is right, for their high end, such as the Dell XPS series.