It's like a round railgun! It throws satellites into orbit, or is intended to. It's a work in progress.
"The more crazy the project is, the better off you are just working on it - rather than talking about it."
-- JONATHAN YANEY
Absolutely, totally true. "To know, to will, to dare, and to keep silent." All the more important in today's overly connected socially networked blabberfest.
Just remember: you cannot use this type of system to launch anything delicate. The spin and thrust will mangle fragile cargo. What you can use it for is mass cargo. Metal parts, food ingredients, anything that is solid or granular. Maybe liquid if you have really great containment, but that's riskier. This tech would be fantastically useful for building and supplying things in space. But throw the raw materials, and build it up there.
Also, dudes: put one on the Moon! It'll be way easier and cheaper to launch from there, and some of what's on the Moon is also useful for building things in space. Nobody's built anything to do stuff on the Moon yet: you could be famous.