The claim that this device can sterilize water as shown in the video is crazy. Nearly all water in the US in streams and lakes (and I guess the rest of the world) is contaminated with giardia, which can cause serious illness. People are likely to get sick and sue this company. Yes, UV sterilization of water is commonly used, but that doesn't mean the LifeSaber is going to work sufficiently well.
Short wavelength light is required (UV-C which is <280 nm). UV LED's for this wavelength are very expensive and have poor efficiency. What does the LifeSaber use, and what is the power output? Real UV sterilizers use mercury lamps made from quartz. Even UV lamps don't work well when the water is turbid.
Finally, when you sterilize water, you need to sterilize all of it. It only takes a few giardia parasites to cause sickness. This is going to be tough to do in an open container. That's why filters work well, because you are only exposed to water that has passed through the filter. Commercial UV sterilizers are also flow systems.