Effects of the Breathe Technologies Ventilation System in Subjects With Chronic Obstructive Pulmonary Disease

Inclusion Criteria: * Adult males, ≥ 40 years of age * Diagnosis of severe COPD (GOLD stage III or IV) defined as having a FEV1 \< 50% of predicted and an FEV1/FVC ratio \< 70% of predicted * Ventilatory limitation to exercise, documented by a VE/MVV \> 0.85 * SpO2 between 80% and 88% during incremental exercise testing on room air * Willingness and ability (after training) to exercise on a cycle ergometer * Willingness and ability to perform all other study related procedures and tasks * Ability to be properly fitted with the Breathe nasal mask * Ability to tolerate and be appropriately titrated on the Breathe ventilator (See Appendix E) * Ability to be properly fitted with an exercise mask * Fluency in written and spoken English * Provision of written informed consent Exclusion Criteria: * History of acute exacerbation of COPD within 30 days of screening * History of serious epistaxis within 14 days of screening * Requirement of \> 5 LPM nasal O2 to maintain an SpO2 \> 90% while at rest * History of pneumothorax secondary to lung bullae * History of intolerance to supplemental oxygen * Musculoskeletal or other non-pulmonary impairment that limits exercise tolerance * Inability to achieve an optimal CWR level (4-7 minutes) during Study Visit 1R * Current participation in another interventional study or participation within 14 days of screening * Presence of any condition or abnormality that in the opinion of the Principal Investigator may compromise the subject's safety or the quality of the study data