I’m a bit of a land lubber, but the idea of this game is interesting. While it eschews the chintzy Sails of Glory models the game does have bits for all you strong sailors to play with.
The company is called Wargame Process Edition. they seem to be focused upon block style, tactile games. You place cubes and disks in your ship and adjust values as the ship is used or suffers damage etc.
I have not read too much about them nor do I know much else than what you can see here!
This is the P500 offering :
Something new and different. Always a good thing and perhaps it will have some good naval movement rules and combat versus what we have seen of Sails of Glory.