cjrgreen: Previously there was no practical synthesis from water and CO2 that could produce the C8 and up hydrocarbons needed for, say, jet fuel. Any synthesis of hydrocarbons higher than methane required too-high temperatures and too much energy input to be practical, and produced too much useless methane. The innovation here is a catalyst and process that enable the production of hydrocarbons such as ethylene, which can be used in further synthesis, under practical conditions, with reasonable efficiency and non-production of waste products.
Spot on. The new tech here seems to be a process to generate C9-12 hydrocarbons from carbon dioxide and hydrogen with minimal production of unwanted shorter hydrocarbons. Generation of carbon dioxide from water containing carbonate and bicarbonate is absolutely trivial (just acidify), and the generation of hydrogen from water is equally trivial (electrolysis), it's just making hydrocarbons out of those components without turning most of it into methane that was the challenge.
However, it's important to keep in mind that this is not a process for energy generation, it's just a process for converting energy to one form (electrical) to another (chemical). It basically just allows ships with nuclear reactors to convert the electricity they're generating into jet fuel with an equivalent amount of potential energy (minus whatever is lost to inefficiencies in the process). It's potentially useful in the sense that it would no longer be necessary to haul around as much jet fuel if you can generate it on-board, but outside of situations where there are such logistical concerns it would ultimately just be a waste of energy.
Also, the original article was horrendously written, and the conclusions it draws are completely removed from the reality of the work that's been done.