Here is how they explain their design:
“BikeGate is designed with both security and usability in mind. The dual locking system encourages cyclists to use both a padlock and a bike lock. By using two different kind of locks, the bikes parked are significantly more difficult to be stolen. In addition, BikeGate incorporates a key lock mechanism to allow easy removal of abandoned bikes by the enforcement agencies.”
A few of the concept renderings are shown here, but you can see more on you can see more on Merwyn’s website.