Water-powered Car

This reminds me of a movie starring Keanu Reeves called Chain Reaction

Too good to be true? Or is it just perfect timing amidst the sky-rocketing prices of fuel these days?

Genepax, an essentially unheard-of Japanese company claims they have developed new technology capable to powering a small vehicle for nearly 80 kilometers on only 1 liter of water. That's any water, by the way. Sea water, rain water, bottled water. Heck, even tea will make the car run.

How is it done? We'll never know. Genepax is currently patenting their technology for mass production. They claim that the major process involves an membrane electrode array that breaks down water into respective H and O atoms. At this point in time, the company assumes the technology will cost the average car-owner roughly $18,700 USD with a prospect of reaching $5,000 once it goes into mass production.

Speaking of the MEA, I believe I read somewhere how it is not economically viable to breakdown water as the amount of energy required to breakdown the molecule is considerably more than the amount garnered from the binding energy. Am I wrong? Or has Genepax somehow broken some fundamental physical law?