Of course they work on physics, and of course they work on quantum mechanics. Chemisty is all based on quantum mechanics.

The process you describe is well known - it is how lasers work, for example. It is simply raising electrons to a higher energy state by shining light on them - i.e. hitting them with photons. But the problem is how to get that energy back out in a useful way. And the "no loss" is nonsense. Furthermore, you still need energy to charge them - the "charge by causing no environmental damage" ignores that.

This research is very far from creating a battery.