Straight from Japan:
The world's first automatic air replacement device for bicycle tires, "Air Hub" (patent pending) incorporates a rotating type air pump for rear and front hubs. With this device, air is replenished in the front and rear air valves gently through exclusive tubes only by turning the pedals, allowing the air pressure of the tire to be always kept at the optimum. Sales started from March 2003.
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Thread: Self-Inflating Air Hubs [cool]