BELMONT, Mass., June 13, 2006 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) today announced that the Company's Kronos Air Technologies, Inc. subsidiary and the University of Washington in Seattle have been awarded continued funding for a research and development technology project on a novel cooling system for microelectronics and computer chips.
The Seattle-based Washington Technology Center, a state funded economic development agency focused on technology and innovation, will contribute $100,000 as a Phase II grant for the project. Kronos will provide $35,000 in funding, $38,000 in in-kind services, including use of the Kronos Research and Product Development Facility. Dr. Alexander Mamishev of the University of Washington Electrical Engineering Department is the principal investigator on the project and will lead a team of scientists and engineers from Kronos and Intel Corporation (Nasdaq: INTC), who will also collaborate on the project.
"Thermal management for microelectronics and MicroElectronics Mechanical Systems (MEMS) systems is a significant challenge as existing cooling devices do not meet the increasing need for efficient energy consumption and heat dissipation necessary for this rapidly growing and evolving market," stated Kronos President and Chief Executive Officer, Daniel R. Dwight. "The goal of this project is to develop heat transfer technology based on Electrostatic Fluid Acceleration (EFA), an emerging technology invented and developed by Kronos."
The technology utilizes an electric field to accelerate air to the speed previously achieved only by traditional blowers. The new microchip system is designed to enable the semiconductor industry to meet the demands of the next generation of microelectronics devices. "This project will leverage Kronos' patented and proprietary technology utilized in our air purification, decontamination and filtration systems," Mr. Dwight said.
In December 2004, under Phase I of the project, Kronos and the Washington Technology Center contributed $40,000 each in funding and in-kind services for the development of a working proof-of-concept micro-fabricated prototype EFA that achieves a dramatic reduction of surface temperature. In Phase II, the team will focus on designing, fabricating, and testing the prototypes that meet the requirements of specific microelectronics applications.
The project terms also provide Kronos an exclusive first option to license any intellectual property developed as a result of the project, as well as the exclusive right to make, have made, use or sell licensed products and processes based on this intellectual property. Intellectual property developed solely by Kronos will remain the sole property of Kronos.
Kronos and its development partners have prepared EFA white papers as a result of the Phase I research which are being presented at two technical conferences:
-- "Coupled-physics Modeling of Electrostatic Fluid Accelerators for Forced Convection Cooling," written by C. P. Hsu, N.E. Jewell-Larsen, A.C. Rollins, and A. V. Mamishev from the University of Washington; I. A. Krichtafovitch from Kronos Air Technologies; and S. W. Montgomery and J. T. Dibene II from Intel Corporation, was presented at the 9th AIAA/ASME Joint Thermophysics and Heat Transfer Conference, San Francisco, June 5-8, 2006; and;
-- "Electrostatic Fluid Accelerators Miniaturization Using Microfabrication Technology," written by C. P Hsu, N.E. Jewell-Larsen, A. C. Rollins, and A. V. Mamishev from the University of Washington; I. A. Krichtafovitch from Kronos Air Technologies; and S. W. Montgomery and J. T. Dibene II from Intel Corporation, will be presented at the 2006 ASME International Mechanical Engineering Congress and Exposition in Chicago, Nov. 5-10, 2006.
In these papers, the concept of EFA-enhanced forced convection cooling is demonstrated, using a micro-fabricated cantilever-based EFA device. Experimental results from Phase I show that EFA can result in significant surface cooling. A substantial surface temperature reduction over an actively heated substrate was achieved with just 0.6 watts of power. Further process characterization and device optimization are in progress. Future work will focus on further miniaturization and performance enhancement into thermal exchange structures. The use of nano-scale emitter tips for field emission-based ionization, and improved modeling of micro-EFAs will also be investigated.
Financial support for the project and associated paper were provided by the Washington Technology Center, Intel Corporation, and Kronos Air Technologies. Additional support was provided by the Grainger Foundation. Undergraduate research scholarships were funded by the University of Washington Mary Gates Research Training Grant, the Washington NASA Space Grant Consortium, and the Electrical Energy Industrial Consortium. The IR equipment was donated by the Intel PPAP group.
About Kronos Advanced Technologies, Inc.
Through its wholly owned subsidiary, Kronos Air Technologies, Inc., Kronos Advanced Technologies has developed and licenses 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 agreements. Kronos Advanced Technologies is located in Belmont, Mass. More information about Kronos Advanced Technologies is available at www.kronosati.com.
About the Washington Technology Center (WTC)
WTC is a statewide economic development agency focused on technology and innovation. WTC sparks ideas, forms connections between people and resources, and fosters job growth to position Washington state as a national technology leader. WTC has a 22-year history working with Washington companies and researchers. As an organization, WTC 1) Helps entrepreneurs develop, produce and commercialize technology products and services; 2) Connects technology companies to academic researchers and laboratory facilities; 3) Channels state and federal funding for research and business development; 4) Provides business consulting services and access to seed capital to help start-up and early stage companies become commercially successful; and 5) Fosters the growth of emerging industries that will positively impact the state's economy. The impact of WTC's work has generated $359 million in additional investment for Washington companies and researchers. For more information visit us online at www.watechcenter.org.
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.