KRONOS ADVANCED TECHNOLOGIES ACCEPTED AS AN ONLINE SUPPLIER AT WALMART.COM
Los Angeles, CA, July 24, 2020 (GLOBE NEWSWIRE) — Los Angeles, CA, July 24, 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 it has been approved by the retail giant, Walmart Inc. (“Walmart”) as an online supplier at Walmart.com. The Company’s air purifiers and other unique products will be available on Walmart.com very soon.
Walmart expanded its eCommerce Marketplace and joined forces with Shopify, an all-in-one commerce platform used by more than 1 million businesses, to open up the Walmart Marketplace to selective sellers. Since Kronos has been using Shopify as an online sales platform and so integrating Walmart.com into its Shopify platform will be a streamlined process now that we one of the few that have been accepted.
Walmart’s press release dated June 15, 2020, stated: “The U.S. eCommerce business grew 74% in total last quarter, and growth in marketplace outpaced the overall business even as first-party sales were strong. As we launch this integration with Shopify, we are focused on U.S.-based small and medium businesses whose assortment complements ours and have a track record of exceeding customers’ expectations. We’re excited to be able to offer customers an expanded assortment while also giving small businesses access to the surging traffic on Walmart.com. Shopify powers a dynamic portfolio of third-party sellers who are interested in growing their business through new, trusted channels. This integration will allow approved Shopify sellers to seamlessly list their items on Walmart.com, which gives Walmart customers access to a broader assortment.”
Each week, nearly 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. Walmart’s online business grew tremendously last quarter with the surge in online shopping resulting from stay-at-home orders across the country. Walmart said that third-party sales grew faster than its own sales.
According to Bloomberg, the world’s largest retailer aims to add 1,200 Shopify sellers this year. Walmart executive Jeff Clementz said in an interview that Walmart’s marketplace site, which already offers more than 75 million products, grew at a faster pace than their overall web business in the first quarter. Third-party sales are typically more profitable as the sellers pay a fee when a sale is made and often shoulder the delivery costs.
“In order to ramp up sales, Kronos has ordered increased levels of inventory for all of our product lines. The estimated retail value of our inventory is approaching US$1,000,000” said Company’s President, Michael Rubinov. “When any company can increase their online outreach -that is considered great news; however, we are very proud to become an approved supplier via Walmart.com, which is a giant milestone for our Company’s future revenue growth.”
About Kronos Advanced Technologies, Inc.
Kronos Advanced Technologies, Inc. began operations in 2002 as a product development company which 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 processes without the use of traditional HEPA filters. Kronos-based products move air silently, filter, 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 standalone products to move and filter air replacing HEPA and other filtration systems. There are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Examples of immediately addressable markets include healthcare facilities, operating rooms, manufacturing clean rooms, and 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 and 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.
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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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