From a post on Reddit, here's the paper on which this may be based. The authors claim an energy density of 418 Wh/kg, a power density of 587 kW/kg, and retention of nearly 100 % of initial capacitance after 100,000 charge/discharge cycles. I'm not knowledgeable enough to say whether this is reasonable, but it may be more promising than it appeared.
However, if the Donut battery is truly based on this work, it makes me wonder how this small company collaborated with these researchers and how they were able to "extend this proof of concept to other platforms and develop supercapacitors as versatile electrical energy storage devices" so quickly, since the article was published in April 2025.