To compile this project you need MSYS2, which can be downloaded here: https://www.msys2.org/
After installing MSYS2 you need to run the following command
make install-arduino-clito install Arduino CLI.
make install-arduino-cli - installs Arduino CLI in ./bin/ directory
make install-deps - installs libraries and boards
make build - compiles the project
make flash - compiles and flashes the project into ESP8266 connected on port COM3