This is the version 2 of a small device that allows you to detect if the nozzle of your 3D printer clogs while it's running. The building process is way easier now since it is based on a PCB instead of using wires. In addition to that, this version has a cool new functionality: It can communicate with your printer. That way you can automatically pause or cancel the print if a clog occurs. Jamming does not happen very often but when you are printing large parts it can really save you a lot of time to be alerted as quick as possible. It is attached to the top of the extruder using double-side tape and it is connected to the 12 V DC rail of the hotend fan. I printed mine in ABS to prevent deformation of some parts due to heat since my Prusa is enclosed.
Hard to know without any documentation, but you should consider both 12V and 24V power input if you have not already (most newer printers run 24V).