If I understand this correctly it works like a low powered projector. A ring of Diodes are used because of their light frequency consistency and low voltage requirements.
The screen in the picture looks blue as they were using a blue diodes.
The screen acts just the way a movie screen would and reflects the light from the diodes back to the camera. Though the screen would be a silver gray in colour, the camera would see green and very uniform at that. It would replace your current green screen and yes would replace the need for lighting a green screen separately. Because of the low intensity of the diodes, very little color spill would occur if any.
The only lighting required would be for your subject. Interesting idea. You should be able to create your own. You would just need to prevent the diodes from being directly visible by the camera lens. The ring would have to be mounted in front of the lens and the picture shows a ridge on both sides of the diodes to prevent the lens from being affected by direct diode light.
Visual Communicator & Vlog It
