It is possible. This is an old idea used in the second world by the luftwaffe using N2O or nitrous oxide. This added more oxygen that commonly found to have an average of 21% of the air we breathe. 78% of the air is nitrogen, at normal combustion below 2500°F, it does not react. The other 1% of the air is other gases. Therefore, with additional oxygen in the combustion chambers, you can add more fuel for more torque.
This system they are talking about has the same concept of enriching the ambient air with oxygen .
It might work.

Oxygen is O2, ozone is O3, one molecule of oxygen more.