Or it's no different to the various transporter effects we've seen over the years, which indicate exactly the same technology.Their cloak doesn't seem to work like the Romulan and Klingon cloaks though. If you look carefully the hull panelling is changing colour or something, it isn't being surrounded by an invisibility field like we've seen Klingon/Romulan cloaks do, or even Federation cloaks in TNG (The Pegasus)
It looks like a completely different tech. It looks more like what the Helicarrier does in Marvel films, or James Bond's car in 'Die Another Day'