This one likely uses a liquid crystal lens that is an off-the-shelf component that costs around $30.
That’s a lot cheaper that trying to develop technology for a liquid lens. Plus this one should be more reliable since it is all electronic and there are no moving parts to wear out.
As a zoomie, we would want it to be more floody in flood mode and more throwy in spot mode.
Unlike cheap aspheric lights, this light should not lose any lumens when cycling between modes.
I suspect what the liquid crystal lens does is act as an aspheric lens in one setting and as a clear lens in the other setting, plus in between.
My guess is the “throw” mode is when the lens is clear. All the throw would be provided by the TIR lens under the liquid crystal. In “flood” mode, the lens shifts to aspheric and distorts the throwy beam outward producing a nice flood mode.
Liquid crystal, for example, used as electrically controllable diffuser plate.
This thing in front of the TIR lens, behind the cover glass.
There are a variety of “smart” crystals, firm or liquid, usable in such an application.
Not new technology at all.
There is written how the Lensvector works:
There are some liquid lenses, but they have a terribly low clear aperture, no good for flashlights. This is probably different.
$459.95
Somehow I don’t think anyone on this forum is going to buy this light. Price is way too high.
very cool light, true innovation.
The price is debatable, but it is a unique piece of technology.
Good to see groundbreaking innovation. I expect others will follow.
So what happens if you drop it and break the glass? 
This thread is 11 months old.
Imagine if the original post stated that the flashlight would cost $460
I mean, no moving parts is cool and all, but, c'mon, $460?
Moving parts doesn't sound so bad anymore.
You can get a pretty good traditional zoomie for $30. 
This light may be attractive for the novelty or maybe a nice beam shape and hopefully a very convenient zoom action, but the throw (202 kcd) of the 64mm diameter head is twice as low as a conventional aspheric zoomie or a reflector light with this diameter and led.
New tech comes with a price. It will cost less over time and with competition. Today’s innovations will be the norm in 5 years, with corresponding improvements.
$459.95
If I ever win the lottery, I will buy this light.
thanks for all the details.
(I don’t play the lottery)
LCD.
How many years until we can get an LCD 14500 LEP?
huh, 3x18650, 139mm length, and 64mm head?! sounds.. interesting. and HOT for a sbt90. but i agree with Djozz, 900 meter throw is NOT tempting for $460, even if there is a patented cool tech involved. Unless it zoomes and makes the beam shape FLAWLESS the entire course of the shape change. that could have value.
Can someone buy it and make a youtube review ?
The patent is invalid. Here’s the prior art: