Kronos Advanced Technologies, Inc. (KNOS) Establishes Medical Device Manufacturing Subsidiary



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Parkersburg, WV October 11, 2022 /Globenewswire/ KRONOS ADVANCED TECHNOLOGIES, INC. (OTC MARKETS: KNOS) (“KNOS” or the “Company”), an innovation-driven product development and manufacturing company that has dramatically changed the way air is moved, filtered and sterilized, announced today Today the creation of KronosMD Inc., a new medical manufacturing division that will focus on leveraging its expertise capabilities in precision healthcare manufacturing to pursue manufacturing and technology acquisition opportunities across the markets for medical devices and precision medical components.

The Kronos® division will continue to grow and diversify in line with Kronos’ 2022 strategy. This investment, focused on leading technology in the medical electronics industry, demonstrates Kronos’ commitment to the future of our business. With this announcement, Kronos further builds on the electronics manufacturing diversification guidelines the company has launched over the past several years, including the “Transition to America” ​​manufacturing plan initially focused on production. of a highly successful range of advanced air purification/disinfection devices. . “The Kronos team has expertise that applies beyond the markets in which the company currently operates,” said Joseph Florence, Chief Operating Officer and Chief Transformation Officer of Kronos. “This announcement formalizes the creation of KronosMD™, a new division with a dedicated team to pursue medical device acquisitions and B2B manufacturing business opportunities.”

The market for medical devices and new medical technologies is growing exponentially. According to Grand View Research, the market size of medical device manufacturers in the United States was valued at USD 176.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% during the period. forecast. The growing prevalence of chronic diseases and increasing geriatric population in the country are the major drivers of the market. The United States remains the largest market for medical devices in the world.

This is an exciting new area of ​​growth for Kronos operations. As part of our future initiatives, Kronos quality management and manufacturing systems have been developed to meet the industry standards required for manufacturing medical devices. A key strategy for KronosMD will involve acquiring, or engaging in B2B manufacturing or design with, innovative companies offering both (or either) currently developed products or strong R&D departments. . At this stage, Kronos is in negotiation with our initial target corresponding to this profile and offering a state-of-the-art medical imaging platform.

“Medical devices is a market where we believe we can add immediate shareholder value by leveraging our scale and manufacturing capabilities to bring innovative, high-quality solutions to market. Kronos’ electronics manufacturing capabilities and related supply chain management expertise can be leveraged to provide medical equipment OEMs with domestic contract manufacturing solutions for products designed to improve health and well-being of today’s targeted consumers. Our leadership’s history of successfully implementing innovative techniques and lean manufacturing principles points to a strong future for Kronos®™ and further serves to ensure our ability to deliver value to our customers and shareholders. ”- added Mr. Florence.

About Kronos Advanced Technologies, Inc.

The company was originally founded in 2002 and funded by the US military to develop electrostatic ventilators. Eventually, the company moved into the consumer air purification business. It began as a product development company that invented and dramatically changed the way air is moved, filtered and sterilized. Historically, Kronos has focused on developing, marketing and selling the company’s proprietary air circulation and purification technology. Serving the indoor air quality (IAQ) market, Kronos technology uses state-of-the-art high-voltage patented processes without the use of traditional porous HEPA filters. Kronos-based products quietly move air, filter, sterilize and purify air while dramatically reducing energy consumption to half of a 60 watt bulb. Kronos devices can vary in shape or size and therefore can be scaled down for air purification in cars or scaled up for the destruction of industrial and hazardous gases. The technology is currently being implemented in several stand-alone products for businesses, homes and vehicles of all types – to move, sterilize and filter the air, including allergen removal down to 14.6 nanometers, in running through our patented technology – replacing costly obsolete passive HEPA and other filtration type systems. There are a wide range of additional markets for standalone and embedded Kronos CORE technology-based devices. Examples of immediately addressable markets include schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and automotive and commercial aircraft cabins. Kronos has published research on the effectiveness of Kronos’ patented air disinfection technology demonstrating the high effectiveness of air purifiers based on Kronos® technology in capturing and destroying various types of microorganisms (including Corona viruses) in different environmental settings in 2008. The results of this research showed that electrostatic air filtration and purification systems based on Kronos technology demonstrated high capture and destruction efficiency for different types of microorganisms, bacteria and viruses, and can be successfully used for air disinfection in real environmental settings, including hospital facilities with and without the presence of people. BusinessWeek called Kronos air purifiers “VIRUS KILL Emergencies” in 2005.

Kronos is the first publicly traded company that accepts DOGE coins as payment for its products, along with other cryptocurrencies.

Recently, the Company filed a provisional patent for an innovative protective mask with antimicrobial and cellphone radiation shielding features. The company plans to file additional patents to improve its existing technology and enter new market segments, but will continue to market air purifiers and other consumer products. The Company is an exclusive and licensed distributor of the latest generation of air purifiers based on the Company’s CORE technologies. The Company markets its products under the Airdog® and KRONOS® brands. All Kronos products come with the Kronos Promise™ – Your satisfaction is guaranteed!

The company’s offices are located in Parkersburg, West Virginia.

Shopping portal: https://www.1800safeair.com

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Contact us via [email protected] or visit https://www.kronosati.co Where https://www.1800SafeAIR.com

DisclaimerThis press release does not constitute an offer to sell, the solicitation of an offer to buy, or a recommendation of any security or any other product or service by Kronos Advanced Technologies Inc or any third party, whether such title, product or service is referenced in this press release. In addition, nothing in this press release is intended to provide tax, legal or investment advice, and nothing in it should be construed as a recommendation to buy, sell or hold any investment or a security or to engage in an investment strategy or transaction. Kronos Advanced Technologies does not warrant that any securities, products or services mentioned in this press release are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is suitable for you based on your personal investment objectives, financial situation and risk tolerance. You should consult your business advisor, attorney and/or tax and accountant advisor regarding your specific business, legal or tax situation.

Social Media Disclaimer and Forward-Looking Statements.

Investors in Kronos Advanced Technologies and others should note that we announce important Company information to the public through various means, including our website (https://www.kronosati.co/investors), press releases, OTCmarkets filings, public conference calls, through our corporate social media accounts, listed above. We encourage our investors and others to monitor and review the information we make public in these places because such information could be considered material information. Please note that this list may be updated from time to time. Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that is not directly related to historical or current fact. Actual results may differ materially from those indicated by these forward-looking statements due to various important factors as disclosed in our filings with OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, results and results may differ materially due to broader factors, including (without limitation) general industry and market conditions and growth rates. , economic conditions, changes in government and public policy, the Company’s ability to raise capital on acceptable terms, if any, the Company’s successful development of its products and integration into its existing products and the commercial acceptance of the company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release, and those views may change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be taken to represent the views of the Company as of any date. after the date of the press release.

SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc.

Telephone information: 1-800-SAFE-AIR (Option #4)

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Source: Kronos Advanced Technologies Inc.

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