KRONOS ADVANCED TECHNOLOGIES ADDS INDUSTRY HEAVYWEIGHT, FORMER AMWAY COO TO ITS BOARD OF ADVISORS

Rhea-AI Summary

Kronos Advanced Technologies, Inc. (KNOS) has announced that former Amway COO William Nicholson will join as a strategic advisor. Nicholson brings extensive experience in business operations and growth, having overseen Amway's revenue surge from under $1 billion to over $6 billion during his tenure. His appointment aligns with Kronos' growth strategy and follows the planned acquisition of an electronics manufacturing facility. The company focuses on innovative air purification technologies aimed at transforming indoor air quality management.

Positive

• William Nicholson brings significant operational experience, previously serving as COO of Amway, where he drove revenue growth from $1 billion to $6 billion.
• The appointment of Nicholson supports Kronos' broader growth strategy, aimed at enhancing its leadership in air purification technology.
• The company is planning to acquire an electronics manufacturing facility, which is expected to bolster its production capabilities.

Negative

• None.

Los Angeles, CA, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Los Angeles, CA, September 30, 2020 (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC., (OTC MARKETS: KNOS) ("KNOS" or the "Company"), a revenue-generating, product development and production company that has significantly changed the way air is moved, filtered and sterilized today announced that Amway’s former COO, William “Bill” Nicholson has agreed to provide valuable strategic advisory services to management. Mr. Nicholson will leverage his skills and expertise to provide guidance and direction to the company’s executive team through its continued growth and development as an air purification and disinfection industry leader. He brings with him years of experience with a strong background in the management of business operations, growth and profitability.

         William Nicholson, brought aboard through our current board of advisors Kevin Harrington and Steve Mandell, previously served as  Appointments  Secretary to President Gerald R. Ford and was a key player at the Amway headquarters beginning in 1984. He oversaw the introduction of many of AMWAY’s then new products and services. William Nicholson commenced an eight-year stint as COO of Amway Corporation during which time he oversaw revenues grow from under $1 billion to over $6 billion up to 1992. Since 1992, Mr. Nicholson continued his entrepreneurial successes in a variety of industries.

         The appointment of Bill Nicholson builds on the company’s broader growth strategy, following the completion of the acquisition of the electronics manufacturing facility planned before the end of the year.

          “Kronos has an outstanding team and Mr. Nicholson’s role represents significant progress for the company as they evolve from a small technology company into a truly national leader of indoor air quality management solutions, services and unique patented air purification products,” says Kevin Harrington, Adviser to Kronos. As a world class business leader, Mr. Nicholson is one of the finest individuals to add to the Kronos team to further scale the Kronos Products on a global basis,” says Steve Mandell, Advisor to Kronos.

          “I am familiar with Kronos technology having closely followed the Company for many years as a witness to the rapid progress the company has made in revolutionizing the air purification industry by eliminating the need for the half century old HERA filtration technology. That technology became obsolete when utilizing Kronos’ innovative cold plasma, filterless technology,” said Mr. Nicholson. “This is perfect time for Kronos and I am very excited to work with their incredible management adding my decades of air purification sales and marketing experience to the team.”

            As Covid-19 disrupts global supply chains, American manufacturers are seeking out ways to restructure national supply chains and search for new manufacturing practices.

Harvard Business review recently reported that Companies in the United States, Canada, Europe, and Australia have been hit with supply chain shocks as the flow of materials from China was disrupted by the pandemic. CEOs are confidentially asking their supply chain teams to develop additional sources that are completely independent of China. In addition, in the United States there is pressure from employees who are wary of traveling to China, from customers who are concerned (rationally or not) about the safety of foods and other items from that country, from investors who worry greatly about over-dependence on any one country, and increasingly from politicians as well as State Department leaders who want companies to rapidly decouple from China.

In this regard, Mr. Nicholson brings extensive experience in both executive leadership and the scaling of global operations to the KNOS Board of Advisors.

About Kronos Advanced Technologies, Inc.

Kronos Advanced Technologies, Inc. began operations in 2002 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 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.

            Recently, the Company filed for a provisional patent involving an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features. 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. Company offices are located in Los Angeles, California.

Shopping portal: https://www.1800safeair.com

Follow KNOS on Twitter: https://twitter.com/kronosati

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Contact us via: info@kronosati.co or visit https://www.kronosati.co or https://www.1800SAFEAIR.com

Forward-looking statements:

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

Phone inquiries: 1-800-SAFE-AIR     (option #4)

FAQ

Who is William Nicholson in relation to Kronos Advanced Technologies?

William Nicholson is the former COO of Amway who has joined Kronos Advanced Technologies as a strategic advisor, bringing his extensive experience in business growth.

What is the significance of William Nicholson's appointment for KNOS?

Nicholson's appointment signifies Kronos' commitment to expanding its leadership in the air purification industry and enhancing operational capabilities.

What recent developments has Kronos Advanced Technologies announced?

Kronos announced the appointment of William Nicholson and plans to acquire an electronics manufacturing facility as part of its growth strategy.

How did William Nicholson impact Amway's growth?

During his tenure, Nicholson oversaw Amway's revenue increase from under $1 billion to over $6 billion, showcasing his expertise in scaling operations.