"PeerJ is an Open Access publisher of scholarly articles. We aim to drive the costs of publishing down, while improving the overall publishing experience, and providing authors with a publication venue suitable for the 21st Century. Our tag line is: "Your Peers, Your Science. Academic Publishing Is Evolving" and we are committed to improving the process of scholarly publishing."
KF: From what I can see this seems to be using the same sort of model as the Cachalot project. The key difference being that this site is suggesting a commercial model to sell an open access approach.
Read more: http://peerj.com