BELMONT, Mass., April 5, 2006 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) announced today that its Russian business partner, EOL, LLC, has successfully achieved the first milestone in developing Kronos-based air purification devices for medical facilities and is currently ahead of schedule as EOL manages toward a product launch in the Fall of 2006. EOL has completed the product design and initiated product development. Having completed the electronics and purification arrays in conjunction with Kronos, EOL is positioned to begin product certification by the Russian Research Institute of Medical Equipment for use of the Kronos-based products in medical facilities, the first such certification to be received for the Kronos technology.
"We are pleased that EOL is working so effectively to get a commercial product to market for the Commonwealth of Independent States' (CIS) medical community," said Kronos President and Chief Executive Officer Daniel R. Dwight. "They expect to have a prototype completed in April and anticipate the commencement of production this Summer."
The development of the airborne disease fighting product comes amidst rising concerns about poor air quality, increased rates of in-hospital infection and growing worldwide concern about the spread of Avian Flu and its projected impact on business.
Tests conducted by The Disinfection Research Institute Sterilization Laboratory in Moscow found that the Kronos air purification technology achieved 100% decontamination in a room contaminated with strains of airborne bacteria spores (Staphylococcus aureus strain 906 (S. aureus) and Bacillus cereus strain 96 (B. cereus)). Other tests by The Institute for Veterinary Medicine in the Ukraine found that Kronos' technology sterilized and destroyed air contaminated with Anthrax and E.Coli (Bac.anthracis K-79Z and E.coli M-17). According to studies published by the Moscow State Medical University, E.coli and S. aureus. are the leading causes of in-hospital patient infection in Russia with as many as 5% of all admitted patients becoming infected. Based on these findings and additional ongoing testing, the Institute said it believes that the Kronos' devices are capable of sterilizing and destroying air that may be contaminated with other microflora, including Avian (Bird) Flu and Severe Acute Respiratory Syndrome associated corona virus (SARS-CoV).
Dr. Mikhail Shandala, Director of the Disinfection Research Institute Sterilization Laboratory who oversaw the Moscow testing previously noted that the Kronos-based product will help medical organizations fight the spread of in-hospital infection, decrease the length of hospital stays and reduce patient treatment costs.
In January 2006, Kronos licensed its technology to Korolev-based EOL, a Russian Federation corporation, to produce, market, and distribute commercial air purification products, bacteriological and virus destruction devices and space heaters in select CIS states including Russia, Ukraine, Kazakhstan, Moldova and Byelorussia. EOL plans to assemble the finished products in Russia from components supplied both locally and from contract manufacturers in China.
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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