This is a digital delay based on the PT2399 IC. The pedal offers 600ms of analog type delay. But......all this comes with a twist. There is a circuit in the pedal that can be engadged that randomly adds modulation to the repeat signal in varying degrees. This gives you a more accurate representation of what degrading tape would sound like.
Rockett Pedals has licensed a version of this pedal from me, called the "Alien Echo"
$229 including shipping.