I like that quote in the article "it is just control of an actuator." The elusive element has always been coming up with a controllable actuator that could do the job, run at real engine speeds, survive in the engine environment and function for a useful period of time. Until now there have been systems that ran but never had all of the attributes at the same time. Once you have all of those you still have to figure out how to build them at a reasonable price. A daunting task indeed.
At $5k to $7k for each valve they obviously have along way to go. What it didn't mention was how fast they can rev or how long they last. It also doesn't mention what kind of outboard support equipment the R&D systems require, power supplies, hydraulic pumps, etc. It will be very interesting to see where it goes.
I've only read one description of F1 pneumatic valves and that was on some guy's website so I can't vouch for how accurate it was. It said that the systems were relatively conventional in that they used air as a replacement for mechanical springs rather than as controlled actuators. That makes sense, air makes a nearly ideal spring in that it has near zero mass and doesn't fatigue or break. Your rev limit is higher and doesn't degrade over time as with metal coil springs. You do see guys pulling into the pits to top off their air though.
Whether you actuate with mechanical, hydraulic pneumatic or electric mechanisms it will take energy to move the valves. One way or another some form of crank derived drive, hydraulic pump, compressor or generator will be needed.
PC.