Looks like the work of two individual inventors. I guess all the expensive corporate R&D and government funded research is no match.
From Feb 1998, note the much more outrageous claim:
Compressed air car
Guy Negre's invention has been chosen to run in Mexico
from next month . These cars run on compressed air which
can be refuelled in 3 minutes at petrol stations using electric power. The car runs for about 600 miles at 60mph before needing a refill which can be done at home with an electric compressor with electricity worth $2 .The engine is much lighter than in electric cars and is negatively polluting as the air filters remove in coming polluted air while the car itself produces no pollutants.