InvestorNewsBreaks – Kronos Advanced Technologies Inc. (KNOS) Files Registration Statement to Fund Expansion up to $10M
Jan 19, 2022
Kronos Advanced Technologies (OTC: KNOS), a revenue-generating product development and production company that has significantly changed the way air is moved, filtered and disinfected, announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) for a proposed offering of its shares. According to the update, KNOS entered into a common stock purchase agreement with Dutchess Capital Growth Fund LP to raise up to $10,000,000 via an equity financing facility. Kronos will use the funds raised to complete renovation of its electronic manufacturing facility, purchase advanced robotic automated manufacturing assembly lines, and support operations as management advances the company’s lead product line of patented air purification and air disinfection products. “We look forward to cementing our business relationship with strategic partner firms like Dutchess,” said Kronos’ COO Joseph Florence. “This marks another key milestone of Kronos’ Strategic Plan. The $10 million equity purchase facility will provide the necessary working capital to support our operations and, as such, is a critical contributor towards achieving our strategic initiatives.”
To view the full press release, visit https://ibn.fm/ojh2H
About Kronos Advanced Technologies Inc.
The company was founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Eventually, the company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed the way 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 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 by the passing of air through our patented technology. In addition, there are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Immediately addressable markets are schools, universities, health care facilities, operating rooms, manufacturing clean rooms, and automobiles and commercial aircraft cabins. For more information, visit the company’s website at www.KronosATI.co.
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