Parkersburg, WV, Nov. 12, 2024 (GLOBE NEWSWIRE) -- November 12, 2024 – Parkersburg, WV – Kronos Advanced Technologies (OTC: KNOS) is pleased to announce the formation of its new subsidiary, Atomiq, Inc., which is dedicated to advancing nuclear battery technology and sustainable energy solutions. Recently, Kronos filed a provisional patent covering key innovations in atomic battery technology, which it intends to license to Atomiq, Inc., positioning Kronos and Atomiq at the forefront of nuclear battery innovation. Kronos Advanced Technologies is proud to be the first publicly traded company to enter the small nuclear battery space, as marked by its provisional patent application filed on 09/26/2024. This initial step reflects Kronos' commitment to pioneering advancements in sustainable energy.
Atomiq, Inc. is strategically focused on building a portfolio of cutting-edge nuclear battery technologies, providing long-lasting, reliable power solutions with minimal maintenance needs. These innovations will target applications across high-demand sectors such as aerospace, defence, and medical technology, where dependable, maintenance-free energy sources are essential. Atomiq’s vision to nuclear battery technology is set to enable continuous, safe power generation that aligns with future energy demands.
A Rapidly Growing Market for Sustainable Power Solutions
The small nuclear battery industry, encompassing devices like radioisotope thermoelectric generators (RTGs) and betavoltaic cells, is experiencing notable growth due to their ability to provide long-lasting, reliable power in remote or demanding environments.
RTGs (Radioisotope Thermoelectric Generators): These batteries, used in space missions and remote applications, can last 10 to 50 years or more. For example, the RTGs powering the Voyager spacecraft have been operational since the 1970s, lasting over 45 years and counting.
Betavoltaic Batteries: These use beta-emitting isotopes, which can generate electricity for around 20 years. They're often used in medical implants, sensors, and other long-term devices where replacing batteries is challenging.
Market Growth and Projections: The global nuclear battery market is projected to expand significantly in the coming years. According to a report by DataIntelo, the market is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030, driven by increasing demand for reliable and long-lasting power sources across various sectors.
Similarly, Allied Market Research anticipates the market to grow at a CAGR of 8.8% during the forecast period of 2019 to 2026, estimating the market size to reach $87.2 billion by 2026.
Several factors are propelling the growth of the small nuclear battery industry:
Demand for Long-Lasting Power: Applications in space exploration, medical implants, and remote sensing require power sources that can operate without maintenance for extended periods.
Technological Advancements: Innovations in materials and energy conversion technologies are enhancing the efficiency and safety of nuclear batteries.
Environmental Considerations: Nuclear batteries offer a low-carbon alternative to traditional power sources, aligning with global efforts to reduce greenhouse gas emissions.
Applications
Small nuclear batteries are utilized in various fields:
Space Missions: Providing power to spacecraft and instruments in environments where solar power is insufficient.
Medical Devices: Powering pacemakers and other implantable medical devices, reducing the need for frequent replacements.
Remote Monitoring: Supplying energy to sensors and equipment in isolated or harsh locations.
A recent report by the World Nuclear Association highlights nuclear batteries as a transformative solution for applications where traditional energy storage solutions fall short. Nuclear batteries, like those Atomiq aims to develop, are uniquely suited for high-stress environments, from deep-space exploration to remote, off-grid locations on Earth. These batteries offer the advantage of an extended lifespan and are projected to become a key component in achieving carbon neutrality across various sectors.
Greg Rubin, CEO of Atomiq, Inc., commented on the company’s vision:
“We are excited to launch Atomiq, Inc. and establish a foundation for developing ground-breaking energy solutions,” said Rubin. “By licensing Kronos’s initial technology and filing patents that build on this core technology, we are positioning Atomiq as a leader in the sustainable energy space and a catalyst for innovation in atomic batteries. This strategic move aligns with our commitment to provide reliable, sustainable energy for critical, high-demand applications.”
About Kronos Advanced Technologies, Inc.
Kronos Advanced Technologies is a Nevada-based, innovative company dedicated to creating disruptive technology solutions in advanced energy, environmental quality, and other high-tech sectors. The formation of Atomiq, Inc. marks a pivotal step in Kronos’s growth strategy, establishing a presence in the promising nuclear battery sector and positioning the company to capture emerging opportunities in sustainable power innovation.
With a focus on innovative products, Kronos seeks to address the evolving needs of various industries, ensuring sustainability and efficiency.
The Company was initially founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Kronos Advanced Technologies Inc. filed about 50 patent applications in the past and had total of 25 issued patents. These patents encompass a range of technologies primarily focused on air movement, filtration, and purification systems. The company, known for its innovations in air movement and filtration technologies, has an extensive patent portfolio that reflects its focus on advanced consumer electronics and medical-grade air purification products. Eventually, the Company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed how air is moved, filtered, and sterilized. Historically, Kronos has focused on developing, marketing, and selling the Company's proprietary air movement 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 move air silently, filter, sterilize, and purify the air while dramatically reducing energy consumption to half of a 60-watt light bulb.
Kronos devices can be variable in shape or size and, therefore, have the potential to be scaled down for air purification in cars or scaled up in size for industrial and hazardous gas destruction. The technology is currently being implemented in multiple standalone products for businesses, homes, and vehicles of all types -to move, sterilize and filter air, including removing allergens down to 14.6 nanometers, passing through our patented technology -replacing expensive outdated passive HEPA and other filtration type systems. There are broad ranges 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 the cabins of automobiles and commercial aircraft.
Kronos published research about the effectiveness of Kronos Patented technology on air disinfection n (e.g., microorganism destruction) by demonstrating the high efficacy of Kronos® Technology-based air purifiers in capturing and destruction of various types of microorganisms (including Corona Viruses) in different environmental settings back in 2008. Results of this research showed that Electrostatic Air Filtration and Purification systems based on Kronos technology demonstrated high capturing and destruction efficiency for different types of microorganisms, bacteria, and viruses, and can be successfully used for disinfection of air in real word environmental settings, including hospital facilities both with and without the presence of people.
BusinessWeek called Kronos air purifiers "VIRUS KILLER" in 2005.
The Company is planning to file additional patents to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company's CORE technologies. The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!
Since our inception in 2002, Kronos Advanced Technologies has been at the forefront of innovation, revolutionizing the way air is moved, filtered, and sterilized. Our patented technology has been instrumental in various sectors, including indoor air quality, automotive, and healthcare.
Kronos Advanced Technologies, Inc. (OTC MARKETS: KNOS) announced in 2023 that the U.S. Food and Drug Administration (FDA) had granted 510(k) clearance to the company’s manufacturer, classifying its Model 5 Air Purifier as a Class II Medical Device. This clearance is a significant achievement, validating Kronos' patented High Voltage Field air disinfection technology, proven to eliminate 99.9% of harmful airborne particles, including allergens, bacteria, fungi, and viruses like COVID-19.
With FDA clearance, Kronos can now deploy its medical-grade air purification and air disinfection technology in hospitals, home health-care settings, schools, healthcare facilities, businesses, hotels, and government agencies. This milestone underscores Kronos' commitment to improving Indoor Air Quality (IAQ) and providing healthier and safer air environments.
As we embark on this new chapter with Kronos Advanced Technologies Inc., we remain committed to our mission of enhancing the health and well-being of individuals worldwide.
Our dedication to customer satisfaction remains unwavering, and we invite you to explore our products and offerings through our online shopping portal and social media channels.
The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company's CORE technologies.
The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!
Company offices are located in Parkersburg, West Virginia.
Shopping portal: www.KronosAIR.com
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Contact us via info@kronosati.co or visit https://www.kronosAIR.com
Disclaimer
This filing does not constitute an offer to sell, a 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 other third party regardless of whether such security, product, or service is referenced in this press release. Furthermore, 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 security or to engage in any investment strategy or transaction. Kronos Advanced Technologies does not represent that the securities, products, or services discussed 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 appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. You should consult your business advisor, attorney, and/or tax and accounting advisor regarding your specific business, legal, or tax situation.
Social Media Disclaimer and Forward-Looking Statements.
Kronos Advanced Technologies investors and others should note that we announce material information to the public about the Company through various means, including our website (https://www.kronosati.co/investors), press releases, OTCmarkets filings, public conference calls, via our corporate Social Media accounts, listed above. We encourage our investors and others to monitor and review the information we make public in these locations, as such information could be deemed to be 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 does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the 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 these views could 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 relied upon as representing the Company's views as of any date subsequent to the date of the press release.
SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
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