It was first shown back in 2012 as far as i remember.. And then around a year or two later the team behind just stopped giving updates.

Even looking at the trailers from back then they still hold up. And so does the new one they dropped out of no where a few days ago!

https://www.youtube.com/watch?v=6HDYMaUUnUQ

I was, and still is, especially impressed by the sound design !

If this is the game I think it is, then it was on my mental "This game looks promising, have a sporadic look every so often, to see how it's shaping up" list, then it just seemingly stopped being made, and there were rumours that the developer had become too busy with other things, and paused development indefinitely.

Hopefully it's now on course for a definite release.