From their FAQ:
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What technology are you using to make these claims for laundry system?
pureWash employs the cleaning and sanitizing power of Activated Oxygen (Ozone). This molecule is an amazing disinfectant, that is 3000 times more reactive than chlorine bleach! The Ozone in the cold water breaks down the cell walls of micro-organisms and kills them over prolonged exposure. Hospitals have been using this technology for over 20 years, not only for their linens, but in air purification as well.
Does this kill dust mites?
While ozone is proven to be 3000 times more reactive than bleach, and readily cleans normally soiled laundry, the concentrations of ozone that the pureWash unit produces are not high enough to kill dust mites.
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There may be some bleaching effect if this is used long-term on colored fabrics. It also sounds like it doesn't produce very much ozone (it's hard to make a lot, and hard to get a lot of it to dissolve in water, I imagine). Ozone is an indoor pollutant, and it's not great for you if you are breathing too much of it. In higher concentrations it has a smell (the best way to describe it is that it smells like electricity) but after a short time it damages the ozone smell receptors in your nose and you can't smell it any more. The smell receptors work again after a day or so, I've read.
It seems like it could work as well as people claim, but there is some risk to buying into it: will the machine break in a few years, does it work on greasy stains such as food stains, will it bleach your clothes, etc. I think I'll stick with regular detergent, and $300 buys a lot of detergent.