SEATTLE--(BUSINESS WIRE)--Know Labs, Inc. (NYSE American: KNW), a leading developer of non-invasive sensor technology, announced today that it has retained The Stanbridge Group to secure a strategic relationship with an automotive original equipment manufacturer to embed the Know Labs sensor technology in automobile steering wheels. In early preliminary tests, the Know Labs sensor demonstrated, in a laboratory setting, that it can non-invasively determine blood alcohol levels and the Company believes, in an automobile steering wheel, could prohibit an impaired individual from driving.
This discovery occurred during the early development of the Company’s non-invasive glucose monitoring technology. That lead to the filing in 2022 by Know Labs of a patent entitled, “Vehicle Interface Systems and Methods for Analyte-Based Control” on August 15, 2022. It was published on February 15, 2024, with publication number: US 2024/0050007 A1.
Tucked within President Biden's 2021 Infrastructure Investment and Jobs Act is a mandate set to redefine the landscape of DUI prevention. By as early as 2026, all new vehicles sold within the country will need to be equipped with passive alcohol detection systems. The Know Labs platform directly addresses this issue.
“While inventing and developing the Know Labs non-invasive diagnostic technology we have paid close attention to the many diverse fields of use in which our technology could be applied,” said Ron Erickson, Know Labs’ CEO. “Determining driver health and wellness is one of those fields of use. Our broad patent portfolio covers installing our sensor technology in an automobile steering wheel. We believe our sensor technology, embedded in steering wheels, can keep drunk drivers off the road and become the standard for the global auto industry. The Stanbridge Group is working to secure a joint venture partner for this exciting application of our platform technology while we continue the Company’s core focus on non-invasive blood glucose monitoring.”
In 2022, drunk driving was responsible for 13,524 deaths in the United States according to the National Highway Traffic Safety Administration (“NHTSA”). As a consequence, NHTSA has initiated a proposed rule making process regarding Advanced Impaired Driving Prevention Technology.
The Stanbridge Group, led by founder, Rick Stanbridge, has worked with senior leadership of automobile and original equipment automobile equipment manufacturers for many years. “Automobile and component manufacturers are all looking for a way to prevent impaired drivers from operating their vehicles,” stated Rick Stanbridge. “The Know Labs sensor is a perfect solution for the problem manufacturers and the NHTSA are working to solve. We are thrilled to be working with Know Labs on this important project.”
For more information on Know Labs, visit www.knowlabs.co.
About Know Labs, Inc.
Know Labs, Inc. is a public company whose shares trade on the NYSE American Exchange under the stock symbol “KNW.” The Company’s platform technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The technology is designed to able to integrate into a variety of wearable, mobile or bench-top form factors. The Company believes that this patented and patent-pending technology makes it possible to effectively identify and monitor analytes that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The Company’s first expected application of the technology will be in a product marketed as a non-invasive glucose monitor. The device is designed to provide the user with accessible and affordable real-time information on blood glucose levels. This product will require U.S. Food and Drug Administration clearance prior to its introduction to the market.
About The Stanbridge Group
The Stanbridge Group conducts business in the United States and around the world. Their focus is on helping companies grow to the next level of expansion and profitability regardless of their geographic location. Most people forget that behind every large corporation there was once a small business. All the big corporate names here in the United States began as an entrepreneurial idea, with only a few employees, a market to fill, and the will and vision to grow. The Stanbridge Group has the tools and resources to take your business to the next level. For more information on The Stanbridge Group, visit www.thestanbridgegroup.com
Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Know Labs, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of products. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Know Labs, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2023, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at www.knowlabs.co. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
