On January 13, Kronos Air Technologies Inc., signed a development and acquisition agreement with Gulfstream Aerospace Corporation. The company’s core business focuses on the development and commercialization of a new, proprietary air movement and purification technology. Following on the prototype development work performed by the Kronos Research Team and the customer testing work that was conducted aboard a “live” aircraft in 2002, Kronos will develop, design and produce Kronos-based air movement and purification devices for installation onboard Gulfstream corporate business jet aircraft. The Kronos(TM) devices will be designed and manufactured to meet all FAA safety standards, including environmental, flammability and electromagnetic interference (EMI). The embedded Kronos(TM) devices will provide silent air circulation and purification throughout the cabin. The contract provides Kronos with advanced funding and progress payments, based on a set customer delivery schedule.
