It uses the term Compressor and then says "in which compressed air expands out of a jet", that is the evaporator part of an A/C unit NOT the compressor. Remember how most A/C units work. The compressor compresses air into liquid. In the process heat is removed from what ever is being compressed. This is then left to escape outside of the system The now Liquid coolant is then pumped into an area when it is permitted to expand into its aerial form (The evaporator). When any substance goes from Liquid to air form, it absorbs heat. In an A/C unit it is heat from the Air around the Evaporator (a fan then blows the cooled air into whatever room or anything we are cooling down with the A/C unit. Thus as the liquid goes from Liquid to air, heat is absorbed. This excess heat is then pumped to the Compressor where the air is compressed back into Liquid and the heat is removed (and the entire process is restarted again).
Now water has been used in the past, but the preferred substance has always been something that is air at temperatures about 60-140 degrees. The air jets may provide a way to make the water aerial in a hurry, but for the system to be efficient it must be a closed system and we return to HOW the air form is returned to its liquid form? Some sort of Compressor seems to be necessary (Or we can be discussing an absorbing mechanism, where heat is absorb by a heat source as opposed to the above Compression system, Absorption is used in larger A/C units and some older (pre-1950) refrigerators.
More on absorption system, to to lack of compression more efficient then Compression system, but you need a heat source for them to work.
http://www.solarpanelsplus.com/solar-air-conditioning/http://en.wikipedia.org/wiki/Heat_absorption_cooling_unitMore on Absorption cooling:
http://en.wikipedia.org/wiki/Absorption_heat_pumpI mention absorption for I suspect that is what the system is using. Thus the lack of a Compressor. Absorption a/c units are much more expensive to make but given the lack of moving parts last forever and operating costs are much lower the compression systems. The problem with Absorption systems is that compressor system can cost 1/2 or less AND can be plugged in almost anywhere as opposed to absorption system that tend to used non-electrical energy sources (Natural Gas generally, which requires someone to hook up a gas pipeline to the unit). Thus an absorption system is probably what this system is based on, along with the air jets would make a very efficient system compared to an electrical based compressor system. I also suspect that the unit is solar power, which in an absorption system can be done via hot water for even more efficiency i.e. heat for the absorption system is made via heating the water, then using that heat to set up the absorption system as opposed to using electrical power generated by Solar panels to run the A/C unit.
Interesting concept but not that much different then other attempts along similar lines, some of which where done 40 years ago during the last energy crisis.