Not much detail in the article, but it's right about GA engines not changing much in the last 40 years.

It's a classic example of regulation stifling innovation - aircraft engines must by law be completely disassembled, inspected and then rebuilt at regular intervals. All new engine designs are effectively penalized with shorter inspection periods until they've proven their reliability. Possibly not a bad idea from a safety perspective, but terrible if you want to modernize anything.

Given that it costs several thousand dollars to overhaul an engine, not to mention the more regular grounding of the aircraft, higher insurance and the lack of trained aviation mechanics, most manufacturers will just choose a "good old" (and I do mean old) Lycoming.

I wish these guys luck. Unfortunately they're not the first to have tried...