A new kind of chain.

[Andy in Sig]

From the same mag as the magnetic pedals is an article on the Gates Carbon Drive with is a sort of toothed band that replaces chains. It's been tried before and failed due to stretching but now that carbon is used in manufacture that problem has apparently been solved. www.carbondrivesystems.com
The good news is that it needs no oil.

 

[Maz]

It's certainly interesting.
I might be wrong, but I think it probably lends itself better to single-speed and fixed gear bikes. I just can't visualise it jumping between sprockets on a cassette/chainring.

 

[Andy in Sig]

Right in one. Several European manufacturers are offering it on bikes with hub gears. Interestingly one of them has developed a seperable stay for replacement purposes as obvoiusly, unlike a chain, the band cannot be broken for removal.