Looks like an update to me, not new
Not much information available (yet). They (CEO) are guessing 2 years to get benchtop data, 5-8 years to get through to prototype stage.
ThoriumMSR has a URL on this http://thoriummsr.com/q-and-a-with-russell-wilcox-of-transatomic-power/
I would guess the 3% efficiency number presented, is the typical efficiency of USA light water designs.
This design is expected to work with thorium or uranium, but will start with uranium. While the design produces much less waste (they think), it is not likely to be qualified to burn existing waste. So, we still need to deal with that, for probably at least another 20 years.
Another thread mentions that nitrate salts break down at 565 C, and the above thread says the reactor will like operate at 700C. So, it isn't likely to be nitrate salts. A question in the above thread had an answer that it isn't likely to be chloride salts. Another question about fuel, is that for new uranium fuel, the input is likely to be gaseous UF6, which suggests to me they are talking fluoride salts.
They aren't willing to say if this is thermal, fast or something else.
Someone in a thread somewhere, mentioned lithium. I'm not a big believer in lithium or beryllium, as they both undergo fission of a sort. Be-9 can absorb a gamma over 1.6 MeV, emit a photoneutron, and then decay into 2 He-4 nuclei, which looks a lot like fission. Li-6 can absorb a neutron and essentially split into H-3 and He-4. Li-7 doesn't have a big absorption cross section, but Li-8 beta decays to Be-8 with a short half life, and we get those 2 He-4 particles again (another essentially fission reaction).
They are calling it intrinsically safe, and yet it is supposed to have a graphite core. Graphite can store energy when used as a moderator, and annealing the graphite to release this energy becomes part of reactor operation. And the release of that energy in a large mass of graphite, can be a problem.
If they use uranium fuel, they will breed all the transuranics that uranium fueled reactors normally breed. That they think they can burn most of them away is useful. The problem with a lot of thorium fueled designs, is that 28 day Pa-233. If the fuel stays in the core, the Pa-233 has a big enough cross section for neutrons, that you make Pa-234, which provides access to all the transuranic production of uranium fueled reactors.
If this reactor can safely burn up transuranics and fission products, I would hope that they consider one (or a few) channels through the core of a refractory material, through which they can insert/circulate existing used fuel. It is not enough to just not generate more waste, we need a way to get rid of the existing waste.
And they might as well stick to uranium, until someone finds the magic to get most of the Th-232 to transform to U-233 correct.