Interesting. I've also never heard of it, but the idea of something like this is intriguing.
I have heard about (theoretical) rail guns however. Very interesting idea there, though barrel length might be a problem in a handgun.
I'm sure most here are familiar with the idea, but I'll lay it out for those that might not be.
Essentially, you'd have a gun barrel that was lined with a long succession of electromagnets. A bit like this (coils with projectiile position shown):
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The projectile would need to be steel/iron, or at least have an outer shell made out of it. The coil directly in front of the projectile would be switched on. The resulting magnetic pull would pull the projectile forward. As it crossed the line of the coil in front of it, that coil would shut off which would immediately turn on the coil ahead of it, and so forth, and so forth. Essentially you have each magnetic coil turn on successively down the entire length of barrel pulling the projectile at higher and higher speeds as it goes. The stronger the electro-magnets, and the longer the barrel, the more speed the projectile could develop.
Some basic versions of this have been built in a lab, but it's never been developed into a usable weapon. Still, the idea is pretty neat - your ammo would be much smaller - all of the energy used to shoot it would come from a battery. Even cooler, is that aside from the projectile, and a switch to depress, this design could be built with almost no moving parts. No gas to escape, not even a hammer to fall or a slide to cycle. Essentially, aside from the sound of the bullet moving through the air, it would be virtually silent.
Not necessarily a great idea for a general purpose gun, but a lot of application for specific scenarios. At this time though, given the length requirements, I've heard this touted more frequently as an option for sea-going vessels, as they would have the size to carry plenty of batteries and could carry large enough barrels to really develop the velocity.