Hydrofoils Inc. has been working on this design for a very long time, it seems many years since I first saw this concept drawing.
Designed for commercial and military use (notice the armament on top of this Coast Guard branded version), the proposed 50ft hydrofoil is designed to run at speeds up to 100 knots using two 1840HP gas turbine engines. There's another 400HP in electric motor drives for non-flight operations during docking and maneuvering.
It looks like Hydrofoil Inc. is serious about this boat, having built a 1/8th scale working model for testing.
Notice the hinge point amidship for changing the angle of attack of the foils. Hmm. Here's video of the model in action. Very slick. I would think you could do something with the foil design to smooth out piercing turbulence, which to me indicates wasted energy.
Tip o' the hat to sticking with the original futuristic design concept. Usually, at the point of design implementation, engineering compromises lead to concept deviation. This thing pretty much went from concept to prototype unchanged.