I would be cautious of any 'innovation that promises so much in terms of increasing water use efficiency and 'eliminating' seed and fertiliser waste.
Apart from the product mentioned, it is possible to buy, or produce, seed that is coated with a mix of nutrients (but taking care not to affect germination). I have seen this for both field crops/pastures and higher value vegetable crops. For an example see: http://www.seedmark.com.au/products/agristrike-coated-seed ...but again, be cautious of over-zealous claims