Alchemy Alert! Israeli company produces on board hydrogen from water

Howard and Tim can save their cut and paste comments on this story right now, cause I'm calling BS on this one. There are a lot of promising ideas being worked on for producing and storing hydrogen in a safe, cost-effective manner, but this doesn't appear to be one of them. An Israeli company claims to be working on a system for on-board hydrogen production by reacting a common metal rod with water at high temperatures. There is no mention anywhere of what the source of this heat will be, but while the premise may indeed be able to produce some hydrogen, the probability of it ever working in a car seems extremely low. Click the read link for a tiny bit more detail, but I'm not holding my breath for a working prototype of this one.
[Source: FashionFunky, thanks to Yash for the tip]

Update: Typo fixed.