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Kronos and U.S. Navy Continue Collaboration - Sign SBIR Phase II Contract for Advanced Distributive Air Management System
BELMONT, Mass., November 13 /PRNewswire-First Call-Kronos Air Technologies, Inc., a wholly owned subsidiary of Kronos Advanced Technologies, Inc. (OTC Bulletin Board: KNOS), and the United States Navy executed a Small Business Innovation Research Phase II contract to develop and demonstrate an advanced distributive air management system based on the patented Kronos™ technology. The 24-month contract is worth $585,000 with an option for an additional $144,000 in funding.
This Phase II contract is an extension of the Phase I and Phase I Option work that began last year and represents further validation of the Kronos™ technology by the U.S. Department of Defense. The work and funding on Phase II will begin immediately. During Phase II, Kronos shall develop and demonstrate a set of fully controlled devices that represent a "cell" of an advanced distributive air management system with medium capacity airflow in a U.S. Navy unique environment. The "cell" will be designed to be easily adjustable to a variety of applications such as duct size, airflow requirements, and air quality. The goal of this development work is to significantly reduce or replace altogether the current HVAC air handling systems on naval ships.
As part of its air management system, Kronos will develop and test an air filtration mechanism capable of performing to HEPA quality standards. Kronos™ devices will replace all current HEPA filters with a permanent, easily cleaned, low-cost solution.
The U.S. Navy unique environment includes shock exposure, vibration, Electromagnetic Interference/Compatibility (EMI/EMC), and salt spray. Kronos™ devices will be tested and built to meet specific Navy standards. Testing shall include assessments for system performance, including control techniques, noise levels, acquisition, and lifecycle costs.
During the option portion of the contract, Kronos™ technology's ability to kill bacteria and other pathogens will be confirmed and expanded to a wide range of pathogens for space disinfection and bio-terrorist attacks. A unique ability of the Kronos™ technology is to kill all or almost all airborne pathogens regardless of their nature, genetic structure, robustness or method of delivery.
"The Navy contract provides Kronos with immediate funding necessary to develop and demonstrate an advanced air handling system," commented Daniel R. Dwight, President and CEO Kronos Air Technologies. "We believe the Kronos technology is not only changing the way the Navy thinks about ship ventilation but will also change the way commercial builders think about building ventilation and aircraft and auto manufacturers think about cabin ventilation."
Other Developments
The Navy advanced distributive air management system is the first in a series of products that Kronos is seeking to embed inside of ventilation and filtration systems to improve efficiency and indoor air quality. The Kronos embedded platform is being developed in parallel with the Kronos standalone platform. Products developed under the standalone platform will allow the user to simply plug a Kronos™ device into an outlet to improve indoor air quality for the home, office, hotel or any other personal application.
On October 29, Kronos signed its first contract for the marketing and distributing of a series of consumer products under its standalone platform. Kronos and HoMedics USA, Inc. executed a multiyear, multi-million-dollar Licensing Agreement to bring Kronos™ proprietary technology to the consumer. The agreement provides for exclusive North American, Australian and New Zealand retail distribution rights for next generation consumer air movement and purification products based on patented Kronos™ technology. Product development work has already been initiated with funding from HoMedics. Kronos is designing the proprietary electronics for each product while HoMedics is designing the product casing and packaging. Initial product manufacturing development is also under way.
Interview with President and CEO
Daniel R. Dwight, President and CEO will be further discussing the SBIR and HoMedics agreements during an interview on Thursday, November 14. The interview is being hosted by www.wallst.net.
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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