Comment by choilive

The innovation here is you have a system that emits monochromatic light, and you have solar cells tuned specifically for that bandgap, plus the system is also "naturally" concentrating because the light output is incredibly bright. 3000 suns vs 500-1000 suns in typical CPV, plus they also do waste heat recycling. End-to-end efficiency of 40% is definitely feasible as advertised.