That's what I am trying to figure too. Two coherent beams with the same frequency, and after adjustment for phase and amplitude, could be made to cancel simply with destructive interference. Maybe this achieves something more, or maybe this does not require amplitude or phase adjustment. I do not know (and possibly do not know enough Physics to follow).
They claim their method results in 99.4% absorption (even though theoretical number is higher). This does not look too hard for visible range. (But maybe for other frequencies, I don't know.)
A typical HDTV with a contrast ratio better than 167:1 is already doing this using liquid crystal (uses polarization rather than a black object).