I picked this up a few weeks ago but what with all that's been going on so far this year, it's taken me till now to take a look:
"Most chemical information on the web is published in closed journals and databases which guarantee high quality but also require a subscription to view. Pre-print servers, collaborative documents, open databases, video sites, online lab notebooks and blogs provide other ways of communicating research. Combining the lot offers the enticing prospect of a vast, free-to-access repository. This could transform the sharing of scientific research if the disparate data sources were machine-readable, so that a search engine could automatically gather data about a particular molecule from a crystal structure, a movie, an online lab book, and an archived article, for example. "
The project will be using standards developed by the Open Archives Initiative Object Reuse and Exchange Project (OAI-ORE) - model protocols are expected to launch next month.