generating hydrogen onboard is new? No, the Electrolytic Oxygen generators have been doing that since the 1950s. And pumping it directly overboard because the hell with having hydrogen inside a steel pipe full of ignition sources! /rant
Oh, generating hydrogen from (bio) ethanol! Okay, that is different and new, and I like it. Minimum loose hydrogen in existence. You'll have to keep the Sailors from drinking that ethanol, though.
Let's see here: C2H6O + H2O <=> 2CO + 4H2
I guess they're just dumping the carbon monoxide into the ocean, then?
Also, nice that it's an endothermic reaction, so the reaction chamber will GET COLD while in use. Endothermic reactions are unlikely to get out of hand.