The “used in an evaporative cooling process” is the part where it sounds like it adds moisture to the air. I think it happens outside, though. It sounds like their whole thing is to run moist outside air over the dessicant, then run that dry air over water that is on a heat exchanger. This would cool the heat exchanger that would be tied to ductwork or whatever to cool the house. Evaporative coolers already exist (both as in-house “swamp coolers” and external chillers usually used on bigger buildings). They don’t work if the humidity is already high, though, so this system would enable them to function better in high humidity areas, and it could take advantage of only doing the energy intensive step of drying out the dessicant when there is surplus energy.