I like that it can potentially run for decades without chemical degradation, and that it is environmentally friendly since most of the parts (compressors, dryers, generators, tanks) can be recycled down the line with minimal environmental impact.
Things that seem concerning at first glance:
* Maintaining sub -196'C requires a lot of complex refrigeration, monitoring and pressurization equipment, which can be prone to failure (see Hampson–Linde cycle). The expansion factor of liquid air to air is roughly 800x.
* Round-trip energy efficiency: I can't see a system taking electrical input to produce liquid air on the way in and similarly to run a turbine generator on the other end without having substantial losses both ways... I believe Tesla is around 88% on their system.
* Gasses used in refrigeration continue to be an environmental and health concern even with modern compounds.
Hopefully with some cost scaling or proof of longevity it can be a valid solution.
1. https://en.wikipedia.org/wiki/Hampson%E2%80%93Linde_cycle