It has pretty impressive performance.
Tech Ingredients did one or two vids as well - https://www.youtube.com/watch?v=dNs_kNilSjk
Was thinking of whipping up a batch for my rv.
https://www.amazon.in/EXCEL-CoolCoat%C2%AE-Reflective-Coatin...
Basically, have a highly reflective white coat on your roof, to reduce temperatures by about 3 Degrees Celsius.
Almost all homes in Urban India are made from concrete and bricks, which can hold a lot of heat.
I myself have been in houses that use this to cover only some rooms of the house (mainly the bedroom), and the temperature difference is definitely noticeable. It also makes the room livable in the extreme hot summers in India.
Maybe there's some wiggle room here because solar infrared is mostly near IR and MWIR, and the place where we want high emissivity (absorptivity) is longwave IR, but to the extent that the advertisement makes any claims about infrared emissivity, it claims very low infrared emissivity, not high.
A paint with low emissivity across the spectrum will slow down the temperature rise when the sun is up, but also slow down the temperature drop when the sun is down. This can still make rooms livable, but it isn't the same as what you get with regular whitewash, where the temperature of the roof is actually lower than the temperature of the air around it.
I think one of the things in the paints that Ben adds is a set of microspheres that reject incident incoming infrared beyond a certain angle but allow it to pass through when radiated. Something like that.
You should be aware that there are rigorous constraints on how much absorptance can differ from emittance, known as Kirchhoff's Law of Thermal Radiation: https://en.wikipedia.org/wiki/Emissivity#Absorptance because without them you could get mechanical power generation from a uniform bath of thermal radiation, which would give you a perpetual-motion machine.
The product datasheet[0] claims a thermal emittance (aka LWIR) of 0.82. Having such a high value is typical for non-metallic surfaces.[1]
[0] https://5.imimg.com/data5/CA/RO/MY-653008/excel-cool-coat.pd...
[1] https://ntrs.nasa.gov/api/citations/19840015630/downloads/19...
That effect is almost not perceptible in normal milled limestone.
I totally believe that you can get significant percentage improvements with the right mix of particle sizes, but the LWIR emittance of just about all nonmetals was upwards of 75% the emittance of an ideal blackbody. That puts a ceiling of about ⅓ (4:3) on the possible improvement on that end. And plain old whitewash has a reflectivity upwards of 90% in the visible, while the best known materials, such as polished silver, are something like 96%, so you might get 3:2 on that end—but probably won't even get 2:1. https://nvlpubs.nist.gov/nistpubs/bulletin/07/nbsbulletinv7n... is one older reference on this, but https://www.thorlabs.com/newgrouppage9.cfm?objectgroup_id=90... gives plots of silver mirrors' reflectance by wavelength, polarization, and angle of incidence.
As a side note, what people have been painting their houses with for thousands of years isn't normal milled limestone; it's slaked lime, which forms limestone by absorbing CO₂ from the air over about a month. Modern whitewash has milled limestone mixed into it, but the morphology of the final surface isn't very similar to milled limestone in a transparent binder.