yes it is true, there was even some material in fox news about it, so those who have not seen it can watch it on that page below
http://www.mobilemag.com/content/100/354/C8115/
that guy has a car that use water as a fuel, basicly water is converted to some special gas HHO and… better read it on your own 
What the difference between H20 and HHO exactly? 
How on earth can this guy patent such an invention - the process of electrolysing water has been around for decades.
IMO this is a publicity stunt.
On a more serious note, until the % of powerplants running from nuclear or renewable energy sources rises massively, applying such a technology on a large scale would be futile exercise in stupidity.
I never really believed in water as car fuel because it’s a stable substance. You need some unstable substance in order to win energy from it.
Sure you can change the properties of water so that you can extract gas from it which you can burn, but I always understood that this process takes lots of energy, which more than voids the whole point. I’m not sure how this is could be any different.
And history repeats itself 
Nah really… thats like the 100th car which can use water as fuel. Its the same shit over n over again. Oh yea and they were all patented n stuff… as if that means anything. If someone would actually manage to do something like that it would be 24/7 in the media… for months to come.
One should focus on the stuff, which actually works. Like there will be soon way cheaper solar panels thanks to holographic (useful spectrum) redirection, osmosis power plants (if they manage to produce more effective membranes with nano tech), methane producing bacteria (yay for gene-tweaking)… well, its not like all that scary tech isnt good for anything. All these things are using sunlight (directly or indirectly). Finding a good energy source is “only” about finding a pretty effective way to convert that energy.
Oil for example is also just sunlight… well, damn old sunlight, but still… its the same thing if you think about it.
I beleave cars on water are around for 7-10 years adleast or so I’ve stood next to a motorcycle on water even 7 years ago. the basic pricible is simple but there are some nifty ways of euh… ‘implenting’ it.
I haven’t read the artikel (I will later, I’m outside and the sun is not making it easy to read 8)) but it will undoubly be about extension of pattens