They have been doing compression and reexpansion on plasmas for a long time. They are claiming high efficiency on energy recovery in these (non-fusion) plasmas. They can also do energy injection and recovery just by pulsing the coils around an empty vacuum chamber (or one filled with nonconductive gas).

There's nothing that should be unbelievable about this claim, and to dispute it would be to assert that they are outright lying. For short timescales where do you expect the energy to be going, if not back to the capacitors? Inductive energy storage on short time scales should be very efficient. Both the coils used and the plasma itself have sufficiently low resistivity. I think the gating technology for this was the switches.

The 1% figure you give there isn't for anything resembling this process, so I don't know why you brought it up except for reasons of obfuscation or your own confusion.