I see nothing to suggest, in any literature that I can find, that they are any more than ordinary scientists who have detected an anomalous effect. That's not fusion. And neither is it fraud.
They were asked to verify existing research in 2004 and were unable to. They tried again in 2009, and could only detect something unusual. Nobody has yet come forward with any proof, method or explanation that actually attributes it to cold fusion past rumour, hearsay and guesswork.
This is the current state of the field.
I'm not saying they are frauds, I'm not saying that this effect isn't present, I'm not even saying cold fusion is impossible. I'm saying that the current state of science is that it cannot be produced, harnessed, reproduced reliably, explained satisfactorily, or attributed to fusion at all.
There are plenty of "respected" scientists out there, with qualifications and professorships who are spouting all kinds of nonsense in all kinds of fields (and cold fusion still attracts them - look into the credentials of certain people involved in eCat etc.).