From the site, there's not enough info to tell what security properties this proposal has. Mostly, they're just begging for money.
It might not be that hard to do privacy-enhanced mail today. Both browsers and some mail clients (i.e. Thunderbird) accept plug-ins, so doing encryption and decryption on the client side is possible even for web mail. You could still use Gmail, but all Google would see are big strings of random-looking text. Your browser plug-in would decrypt that when displaying Gmail output. Of course, Google's indexing and ad matching wouldn't work.
The big problem is publishing and finding the recipient's public key. The 1993 PEM scheme wanted to do this with SSL-type certs, but that never caught on. Self-signed certs are vulnerable to man-in-the-middle attacks. But suppose that you published your public key on some social network (Twitter, Flickr, Facebook...) and your mail client checked your own key at random times. Then you'd detect if someone was messing with your public key. It's not airtight, but it's better than nothing, and any widespread tampering with public keys would be noticed.
None of this requires any cooperation from, or trust in, mail servers. It's entirely client-side, where it should be.