No - that design is similar to the old Junkers Jumo aero diesels.
This involves having two cylinders connected to a common crank (like a V-twin).
The first piston does the induction and compression stroke. The compressed air then goes to a accumulator.
The main advantage to it is that it is so much cheaper to build than a "conventional hybrid".
You also have the advantages of designing the pistons specifically for thier tasks too (power stroke, or compression).
Being able to use the "miller cycle".
Through engine braking you can store the "energy" in the accumulator in the form of compressed air.
You get a much more efficient engine, as the compressed air can be cooled prior to combustion.
Engines that can easily be supercharged - by making a compression cylinder that has a larger bore than the combustion cylinder.
I can't find any websites on it.... will try and scan a schematic when I go home.