Someone with the backing and brains should really look into producing something.If the system were really efficient, supposedly an hour on a exercise bike generates around .11 kwh. Definitely a noteworthy amount of energy. I bet it would be a fun project.
Even if you arranged the system to cycle a manual compressor/hand pump, it would sure beat the heck out of hand pumping the traditional way!
I'd could even see a system that uses nothing more than leverage, no different than comparing bolt action (traditional hand pumping motion) vs a side lever.
-Matt
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