BELMONT, Mass., Nov. 13, 2006 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS), announced today that the Kronos-powered Tree(tm) air purification device, designed and manufactured by Kronos' Russian partner EOL, LLC, has passed its final clinical trial and has been approved by the Russian Research Institute of Medical Equipment for use in hospitals and other healthcare facilities. The device received Category I approval, which means the product has met the strictest regulations required for a device to be used in operating rooms and other areas that require a sterile environment.
Following the Russian Research Institute approval, the Ministry of Health Care and Social Development of the Russian Federation issued a Registration Certificate that designates the product for medical use.
"This Certification is certainly an important milestone in the history of Kronos," stated Kronos President and Chief Executive Officer Daniel R. Dwight. "Receiving a Category I approval and registration certification from the Ministry of Health, a government body, are both clear validations of the power and effectiveness of Kronos' corona-based air purification technology, which EOL has licensed from us. Now that the Tree(tm) air purifier has been certified, EOL is positioned to begin formal marketing of the device to hospitals and health care clinics throughout Russia and select Commonwealth of Independent States."
In recent years, scientific research has indicated that a substantial market may exist for a more efficient way to eliminate microorganisms that could cause in-hospital and post-surgical infections. An independent study conducted in 2001 by researchers from The University of Leeds in the United Kingdom concluded that nosocomial infections (those that originate in hospitals) are a major problem in many healthcare facilities, resulting in approximately 10% of patients in the U.K. acquiring an infection during a hospital stay. (The U.S. Center for Disease Control has reported a similar infection rate for U.S. hospitals.)
The study indicates that the economic impact of nosocomial infection on health care systems is considerable, citing figures of at least 100,000 hospital-acquired infections each year in the U.K. alone, costing the British National Healthcare System approximately 1 billion pounds per year. The study goes on to say that many of the microorganisms responsible for nosocomial infections are difficult to eradicate, and have become drug resistant. Notable examples are methicillin resistant Staphylococcus aureus and Acinetobacter spp., both of which are found in many hospital buildings in the U.K.
Independent testing of the Kronos-based Tree(tm) air purification device has repeatedly shown the effectiveness of the Kronos technology to decontaminate rooms infected with Staphylococcus aureus. The final clinical trial conducted at the Scientific Institution of Health Care, Central Clinic Hospital #2 in compliance with the Sanitary Rules and Standards of the USSR Ministry of Healthcare, concluded that the Kronos-powered device was effective in decontaminating a hospital room against various airborne bacteria, including Staphylococcus aureus. The Test Report Results showed a Tree(tm) air purification device operating in a 48m3 room with people present provided 100% disinfection of Staphylococcus aureus within 1 hour and 80% disinfection of general microorganisms within 24 hours.
To date, the Tree(tm) air purification device has undergone a series of tests and clinical trials and has now been approved for all five categories of use in Russian medical treatment and prevention facilities, including the most stringent Category 1 -- which includes operating rooms, surgical prep rooms, delivery rooms, sterile areas in centralized sterile sections, newborn rooms in birth centers and rooms for premature and infants with birth defects.
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.
About EOL, LLC
EOL is a Russian corporation formed for the purpose of manufacturing, marketing and distributing air purification products based on technology licensed from Kronos Air Technologies, Inc. EOL is owned and operated by Dvorkina Evgenia. Dr. Dvorkina is an entrepreneur who has extensive production, marketing and sales experience with commercial products in Ukraine and the Russian Federation. EOL is financed by Sberbank (the largest Bank in Central and Eastern Europe) -- www.sbrf.ru/eng/. More information about EOL is available at www.tree-air.ru.
Safe Harbor Provision
This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future financial performance, market growth, capital requirements, new product introductions and acquisitions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, managements, including management's own knowledge and assessment of the Company's industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: identification of feasible new product initiatives, management of R&D efforts and the resulting successful development of new products and product platforms; acceptance by customers of the Company's products; substantial expansion of international sales; reliance on key suppliers; the potential need for changes in long-term strategy in response to future developments; and competitive factors, including pricing pressures and the introduction by others of new products with similar or better functionality than our products. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-KSB for the year ended June 30, 2006. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.