BELMONT, Mass., April 25, 2006 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) announced today that the Company has been invited to serve as a member and an industrial partner in the Federal Aviation Administration's (FAA) Air Transportation Center of Excellence for Airliner Cabin Environment Research (ACER CoE). In this capacity, Kronos will provide its real-time decontamination, air filtration, purification and technology expertise to evaluate and develop solutions that proactively address and improve cabin air quality. The program, led by the FAA, includes senior executives from aerospace equipment manufacturers and leading American universities.
"We are delighted to have been invited and enthusiastic about becoming a part of the ACER CoE's prestigious team," said President and Chief Executive Officer Daniel R. Dwight. "We believe Kronos' expertise developing decontamination, purification and sterilization technologies and our solutions that prevent the spread of airborne viruses will substantially contribute to the Center of Excellence's progress in this arena."
The ACER CoE was formed to examine cabin air quality and study chemical and biological threats in airliners, which has resulted in major advancements in aviation science, decontamination technologies and technology transfer. Auburn University heads the ACER CoE and partners include the Air Force Research Laboratory, Embry-Riddle Aeronautical University, Lawrence Berkley National Laboratory, Purdue University, Harvard University, Boise State University, Massachusetts Institute of Technology, Kansas State University and Ohio Aerospace Institute among others and includes industry leaders, such as Boeing, GE and Steris.
ACER's current decontamination projects focus on on-the-ground cleanup of aircraft following a chemical or biological incident (be they unintentional or the result of deliberate terrorist action). The organization plans to expand efforts to include real-time decontamination solutions in the near future. With 30 industrial partners, ACER also works to develop projects with individual partners, provides objective and independent evaluation of these companies' products and unique opportunities for the end users of technologies to work with the industrial partners.
The FAA establishes partnerships with universities throughout the country to create Centers of Excellence (CoEs) in aviation research. These Centers form flexible, multi-disciplinary teams with other government organizations and industry affiliates. The FAA will contribute approximately $1 million to the Center the first year and $500,000 each of the second and third years. Additional funding for the Center of Excellence is provided by matching grants and cost-share contracts from consortium members.
This progress has enabled the United States to continue to build a safer and more efficient air transportation infrastructure. The FAA has awarded over $80M through grants and contracts to five Centers in support of more than 350 research tasks. CoE scientists have published more than 2,000 articles and reports, and doctoral theses since 1993.
Details of ACER's research programs including the decontamination project may be found on the ACER web site http://acer-coe.org/research.html
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 "Certain Business Risk Factors" 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.