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KRONOS RECEIVES NOTICE OF ALLOWANCE FOR SECOND U.S. PATENT
Belmont, MA - September 3, 2003: Kronos Advanced Technologies, Inc. (OTC BB: KNOS) announced today that Kronos Air Technologies, Inc., a wholly owned subsidiary of Kronos Advanced Technologies, has received a Notice of Allowance from the United States Patent and Trademark Office indicating that its patent application entitled Method of and Apparatus for Electrostatic Fluid Acceleration Control of a Fluid Flow has been examined and allowed for issuance as a U.S. patent. It is expected that the U. S. Patent will issue in due course. Kronos' Chief Technology Officer, Dr. Igor Krichtafovitch, is the inventor of this proprietary technology.
This allowance is the second in a series of patent applications pending with the U.S. Patent and Trademark Office addressing various aspects of the Kronos technology. A number of corresponding applications have been filed and are pending outside of the United States. This latest patent, when formally issued, will provide intellectual property protection for key aspects of Kronos' technology until late in 2020.
In addition to the Electrostatic Fluid Accelerator and Method of and Apparatus for Electrostatic Fluid Acceleration Control of a Fluid Flow patents, a number of additional patent applications have been filed for, among other things, the control and management of Electrostatic Fluid Acceleration. These additional patent applications are either being examined or are awaiting examination by the Patent Office.
The Kronos-based platform developed by the Company includes filtration, purification, airflow, back-pressure, noise elimination, energy-efficiency and dehumidification standards that the Company believes will meet customer needs in the residential, commercial, industrial and military market places. The core Kronos technology is already being incorporated into commercial products by HoMedics, Inc. for distribution to the consumer marketplace, and used by the U. S. Navy and U. S. Army for specialized military applications. Enhancing the Company's intellectual property position through the issuance of patents strengths and protects the Company's ability to expand into new market applications.
About Kronos Advanced Technologies, Inc.
Through its wholly-owned subsidiary, Kronos Air Technologies, Inc., Kronos Advanced Technologies focuses on the development and commercialization of a new, proprietary air movement and purification technology. Kronos's technology utilizes state-of-the-art high voltage electronics and electrodes to create an efficient but simple electrical device. As a result of this combined technology, the Kronos™ air movement and purification device can move and clean air without any moving parts. The device is versatile, energy and cost-efficient and exhibits multiple design attributes, creating a broad range of applications. More information about Kronos Advanced Technologies is available at www.kronosati.com.
Contact: Kronos Advanced Technologies: Daniel R. Dwight at 617-993-9965 or email: investors@kronosati.com.
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 Prospect" in the Company's Annual Report on Form 10-KSB for the year ended June 30, 2003 as filed with the Securities and Exchange Commission.
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