Parkersburg, WV, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Kronos Advanced Technologies Inc. (OTC: KNOS) and Yasheng Group (OTC: HERB) are proud to announce significant progress in their ongoing collaboration to develop a revolutionary small nuclear-powered battery. On Thursday, September 26, 2024, the companies jointly filed a provisional patent with the United States Patent and Trademark Office (USPTO), marking a pivotal step toward commercializing this groundbreaking technology.
The nuclear battery, may have potential to provide reliable power in milliwatts for up to 50 years without requiring recharging, is intended to address critical energy needs across multiple industries, including remote sensing, space exploration, medical devices, and military applications. The filing of this provisional patent underscores the technological advancement and innovation achieved through this partnership.
The $ multibillion global market for small nuclear-powered batteries is projected to grow significantly in the coming years. According to market research, the nuclear battery market is expected to experience a compound annual growth rate (CAGR) of 8.7% between 2024 and 2032 (Expert Market Research). This growth is driven by advancements in nuclear technology and increasing demand across various sectors such as military, aerospace, healthcare, and infrastructure development.
Regions like North America are leading the market, particularly due to the expansion of space exploration programs and defense applications, which require long-lasting, reliable power sources. Meanwhile, Asia Pacific is expected to witness rapid growth, propelled by urbanization and the need for stable energy supplies in sectors like telecommunications and oil and gas.
The nuclear battery market is experiencing a trend towards miniature power sources, isotope technology, and applications in remote devices. Innovations in radioisotope generators, microreactors, and nuclear fuel cell designs are prevalent trends. Nuclear batteries harness nuclear decay to generate electricity for various applications in aerospace, medical implants, and remote sensors. Moreover, developments in compact reactor designs, safety features, and long-lived isotopes are shaping the market.
Nuclear-powered batteries, with their ability to provide steady and long-lasting energy, are gaining traction for applications where conventional batteries may not suffice, especially in extreme environments or remote locations.
This announcement comes at a time when interest in nuclear battery technologies is rapidly increasing, following innovations like those recently unveiled by Infinity Power. The Infinity Power atomic battery was recognized for its industry-leading efficiency, showcasing advancements in long-lasting energy solutions that align with the vision of the Kronos-Yasheng collaboration. Infinity Power's breakthrough, which focuses on ultra-high-efficiency energy generation from small atomic sources, provides an exciting backdrop for the Kronos-Yasheng nuclear battery's potential to redefine energy usage in critical sectors.
Key Details of the Collaboration:
Patent Filing Strategy: With this provisional patent now filed in the U.S., the companies are preparing to expand their intellectual property strategy. Yasheng Group is set to handle the filing of the nuclear battery patent in China, while Kronos Advanced Technologies Inc. continues to lead efforts in the United States. Both companies will bear the costs of filing in their respective jurisdictions.
Royalties and Revenue Sharing: Under the terms of the partnership, both companies will benefit from the commercial success of the nuclear battery. Kronos Advanced Technologies Inc. will receive 10% of the royalties generated by Yasheng Group in China, while Yasheng Group will receive 10% of the royalties from Kronos's U.S. operations.
About the Nuclear Battery:
This small nuclear battery will utilize the energy from the beta decay of a radioactive isotope, such as Nickel-63, and converts it into electrical energy using semiconductor technology. Key features include:
Energy Conversion: Advanced semiconductor materials efficiently capture and convert beta particles into electrical energy.
Safety and Encapsulation: A robust radiation-shielding housing ensures safety and prevents any radiation leakage.
Applications: The nuclear battery is ideally suited for long-term, maintenance-free energy needs in remote sensing devices, space exploration technologies, medical devices, and military equipment.
Next Steps:
Both companies are now working toward filing a full utility patent in the United States and completing the corresponding patent application in China. These efforts will strengthen the protection of their shared intellectual property while accelerating the commercialization of this promising energy solution.
About Yasheng Group
Yasheng Group is a Colorado-based corporation with historical high-tech agriculture operations in China. The company is committed to advancing technological innovations, fostering collaborations, and investing in groundbreaking research across multiple sectors
About Kronos Advanced Technologies Inc.
Kronos Advanced Technologies Inc. is a Nevada-based company specializing in developing cutting-edge technology solutions. 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.
Kronos is the first publicly traded company that accepts Dogecoin as a form of payment for its products, as well as other cryptocurrencies.
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. We are proud to be pioneers in accepting cryptocurrencies, including Dogecoin, and Shiba Inu coins as a form of payment for our products, reflecting our dedication to embracing emerging technologies.
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.
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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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