BELMONT, Mass., Dec. 14, 2005 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) today announced the receipt of $175,000 in additional funding from its strategic consumer products partner, HoMedics, Inc., for the achievement of the First Production Milestone.
"We are pleased that after an extensive period of product development, we have achieved this milestone as a result of successful testing of pre-production models of an air filtration product for the consumer market," stated President and Chief Executive Officer Daniel R. Dwight. "We know from our testing the superior results our technology can achieve and look forward to providing consumers the most advanced and effective standalone air filtration unit available, based on our proprietary air purification technology."
Kronos recently received pre-production units based on its modified design of HoMedics standalone air purification products from Kronos' contract manufacturer in Mexico and China. More than 60,000 successful tests based on HoMedics testing protocol were conducted with the objective of demonstrating and maintaining consistency across products from devices built in a low cost market. On average the products demonstrated 99.99% filtration of 0.3 micron and above size particles with the required level of air flow based on the speed setting selected. As an added real time feature, the products have the ability to monitor the air quality in a room and modify their operation based on the quality of the air detected by the device.
Beyond the HoMedics protocol, the Kronos standalone air purification products have demonstrated the ability to remove sub-micron size particles (0.02 - 0.2 micron) and destroy Anthrax, E.coli, Avian Bird Flu, SARS and other microflora which both produce and do not produce spores. The independent tests were conducted by the Aerosol and Air Quality Research Laboratory in the United States and at the Institute for Veterinary Medicine in the Ukraine.
"Kronos is setting a new standard for air filtration based on successful test results," Mr. Dwight stated. "This has led to current and potentially new strategic partners in the residential, commercial, industrial and transportation markets, in which Kronos' robust technology can be utilized to filter and purify a variety of bacteria, gases and other biohazards. These partners are seeking Kronos solutions to a variety of indoor air quality problems."
About Kronos Advanced Technologies, Inc.
Through its wholly-owned subsidiary, Kronos Air Technologies, Inc., Kronos Advanced Technologies has developed a new, proprietary air movement and purification system that utilizes state-of-the-art high voltage electronics and electrodes to silently move and clean air without any moving parts. Kronos is actively commercializing its technology for standalone and embedded products across multiple residential, commercial, industrial and military markets. Kronos' technology is versatile, energy- and cost-efficient and exhibits multiple design attributes, creating a broad range of applications. The Company's business strategy includes a combination of building internal capabilities, establishing strategic alliances and structuring licensing arrangements. Kronos Advanced Technologies is located in Belmont, MA. More information about Kronos Advanced Technologies is available at www.kronosati.com.
Forward Looking Statements
With the exception of historical information contained in this press release, this press release includes forward-looking statements and comments. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond the Company's control. Forward-looking statements, by their nature, involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance. Other risks are summarized under the caption "Factors Affecting Kronos' Business and Prospects" in the Company's Annual Report on Form 10-KSB for the year ended June 30, 2005 as filed with the Securities and Exchange Commission.
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