Electrolysis has been known for hundreds of years--pass an electric current through saltwater and you'll get some combination of products at the electrodes, depending on the salt you use, often including hydrogen. The only problem is that you have to put in more energy than you can possibly get back out. Conservation of energy is high school physics and pretty embarrassing for PSU that this guy thinks it's a practical source of fuel. You're much better off just running an electric motor with all the electricity you used to create the RF.
There is plenty of useful energy stored in water if we can fuse the hydrogen atoms into helium, but that's not happening with an RF field of the kind described above.
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