BELMONT, Mass., Oct. 11, 2006 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) announced today that Karl Winkler, a business executive with 18 years of product development, engineering and product launch experience with both small-cap and Fortune 500 companies, joined Kronos' wholly owned subsidiary, Kronos Air Technologies, Inc., as Vice President and General Manager Engineering and Product Development, a newly created position. Mr. Winkler will lead the Company's engineering and product development team with the objective of commercializing new products powered by Kronos' proprietary technology.
"With his considerable leadership experience developing new products for well-known consumer and commercial products companies, Mr. Winkler is an excellent addition to the Kronos team," stated Daniel R. Dwight, Kronos President and CEO. "He brings significant value to Kronos as we work toward better integration with our strategic partners in co-developing and producing Kronos-based products and will immediately take leadership responsibility over our product commercialization efforts with Kronos' strategic partners, including EOL and DESA, as well as prototype development efforts with other Kronos partners."
Previously, Mr. Winkler served as a Vice President of Engineering at Armatron International where he designed and launched entire lines of commercial and consumer products with a focus on improving product quality while lowering production costs. In addition, Mr. Winker launched new products for Sharper Image, Sam's Club, Costco, Flowtron, Outdoor Products and Keurig Premium coffee systems. He also spent 11 years at The Schawbel Corporation where he developed products for such companies as Conair, Black & Decker, Craftsman, S.C. Johnson, Philips, Scripto-Tokia and Sanyei/Koizumi. In conjunction with his engineering and product development experiences, Mr. Winkler has been issued five U.S. Patents.
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, Mass. More information about Kronos Advanced Technologies is available at www.kronosati.com.
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.