Wow! Never heard of it. Seems it was powered by a 1500cc Porsche motor, which would theoretically make it eligible for F1 races in that year. It seems it never raced - what a shock!
Further research has not revealed much, but it is believed that the builder was Marcel Balsa who raced self-built and Jicey BMW-engined F2 cars in the 1950s. There was another Balsa car built or proposed for F2 powered by a modified Peugeot engine.