Their site is full of hype and misinformation. These alkalinized waters produce caustic hydroxides (OH), which are also EXTREMELY powerful free radicals. As far as emulsifying fat, this is really way off base. Hydroxides react with fats to create soaps. This is not emulsification. If you want to emulsify fats try lecithin granules.
The claim of curing cancer is also bogus. Cancer IS NOT caused from acidity. In fact many acids are very effective in controlling cancer such as ascorbic acid, betulinic acid, glucoronic acid, etc. And wiping out the stomach acid with hydroxides is going to lead to a number of other problems from nutritional deficiencies and increased pathogens passing through the digestive tract. Furthermore, many of the pathogens responsible for cancer thrive in an alkaline environment.