SKYX Announces Issuance of 8 Additional New Patents in the U.S. and International including China, Europe and 2 Patents in India, for its Advanced, Smart Home and AI Platform Technologies
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The expansion of SKYX's patent portfolio is a strategic move that underlines the company's commitment to innovation and market leadership in smart home and AI sensor technologies. Intellectual property, particularly patents, serve as a defensive barrier against competitors, potentially reducing the threat of infringement and litigation. For investors, a strong patent portfolio can be indicative of a company's potential to generate licensing revenue, as well as safeguarding market share by preventing competitors from copying proprietary technology.
Moreover, the international scope of these patents, with issuances in China, Europe and India, showcases SKYX's ambition to tap into global markets. This is critical because the smart home industry is expected to grow significantly and a presence in key international markets could offer diversified revenue streams. However, the actual financial impact of these patents will depend on the company's ability to commercialize the technologies and enforce its intellectual property rights effectively.
SKYX's announcement regarding its enhanced patent portfolio is a positive sign for its stakeholders, signaling potential growth and innovation. Patents are often seen as a measure of a company's research and development capabilities and by extension, its future growth prospects. The addition of 8 new patents could be a precursor to new product developments or enhancements to existing products, which might lead to increased sales and market share.
However, it is essential to consider the competitive landscape of the smart home and AI sensor market. While patents provide a competitive edge, the company's success will also hinge on consumer adoption rates, integration with other smart home ecosystems and the evolution of industry standards. Investors should monitor how these patents translate into marketable products and services that meet consumer demands and regulatory requirements, especially in the diverse international markets that SKYX is targeting.
SKYX's focus on smart home platform technologies is indicative of the broader trend towards interconnected and intelligent living spaces. The company's patents in plug and play and smart home platform technologies suggest a user-friendly approach, which is important for mass adoption. The emphasis on safety sensors also aligns with increasing consumer awareness and demand for home security and safety features.
From a technology standpoint, the integration of AI into smart home systems is a significant advancement. AI sensors can learn from user behavior and potentially offer predictive and adaptive home management solutions, leading to energy efficiency and enhanced user experiences. SKYX's investment in such technologies could set it apart from competitors, provided that the company continues to innovate and adapt to emerging trends in AI and machine learning.
SKYX Enhances its Robust Patent Portfolio Which Now Totals over 90 Issued and Pending Patents with over 30 Issued Patents
SKYX’s Patents Enable and Enhance Performance of Smart Home and AI sensors in Addition to Home Safety Sensors
MIAMI, April 04, 2024 (GLOBE NEWSWIRE) -- SKYX (NASDAQ: SKYX) (d/b/a "SKYX Technologies"), a highly disruptive smart platform technology company with over 90 issued and pending patents in US and globally, and over 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, announced today the issuance of 8 additional new patents in the U.S. and internationally including China, Europe and 2 patents in India, for its advanced and smart platform technologies.
The 8 additional patent issuances cover SKYX’s advanced plug and play and smart home platform technologies, enabling the usage of smart home and AI sensors in addition to home safety sensors. This brings the Company’s intellectual property portfolio to a total of over 90 issued and pending patents, 30 of which are issued patents covering SKYX’s advanced plug and play and smart home platform technologies for the smart home, AI, electrical, and lighting industries.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said, “We are proud to announce these additional 8 new patent issuances, which further strengthen our global robust intellectual property portfolio in the important area of our advanced safe, smart homes and sensor technologies. These advancements position SKYX to be a leading technology provider of smart home platforms for the smart home, electrical and lighting industries. Taken together, we are well positioned to create sustainable value for our shareholders over the long-term.”
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 90 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
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