DRAPER, UT / ACCESSWIRE / December 29, 2020 / Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) is pleased to provide an update on the advancement of its' Bend Sensor® technology and Flexpoint's business model. Flexpoint President Clark Mower stated, "Our Company, like many other businesses, has been affected by the Covid-19 crisis over the past year. However, we are pleased to announce that we have seen a renewed interest from companies in our sensor technology over many different market segments which has led to orders from many new and repeat customers. We are currently working on additional products as the global recovery continues. The company expects revenue to increase substantially in 2021." These products include:
We are currently working with both North American auto manufacturers as well as foreign automotive manufacturers on inclusion of our sensor in an Occupant Classification System (OCS), along with implementing the Impact Detection System. We have entered into an agreement with a company to provide the OCS system for their automobiles in the United States beginning next year. We are furthering discussions with a large after-market seller for inclusion of our sensor in other automotive seat products.
MANUS VR and others who utilize the Bend Sensor® technology as integral components of their solutions have established market presence in this rapidly growing market space. We continue to fulfill orders under the previously announced June 2020 Press Release with record orders from Manus VR and expect to complete final delivery of the balance of the order shortly after the first of the year. These relationships continue to have a significant impact on Flexpoint's financial performance and show signs of tremendous growth on the horizon. Flexpoint's patented Bend Sensors® were originally featured in the Nintendo Power Glove. We continue cultivate additional partnerships within this industry.
Medical Glove Manufacturers (Rehabilitation) - We are in production of sensors for Neofect, a Korea company. These sensors are for rehabilitation devices sold throughout Europe and are expected to be delivered before the end of year. NEOFECT is a 2018 CES, Innovation award winner, expanding their reach globally with their FDA approved RAPAEL Smart Glove rehabilitation support technology. Flexpoint has also recently supplied sensors to Idrogenet/Gloreha, (Italy), along with others who have placed recent orders for sensors which will and are contributing to Flexpoints' revenue stream. These orders are expected to continue increasing in order size and frequency into 2021 and beyond.
BATTERY EXPANSION SENSOR -
Flexpoint's Battery Expansion Sensor, ("BXS"), continues to make significant progress as we develop partnerships with major computer manufacturers and computer component providers who rely on lithium-ion batteries in smaller spaces will utilize the expansion sensor as a safety measure. Flexpoint is currently working with a number of major manufacturers on improving the quality and quantity of data we are able to deliver to keep lithium batteries safe in consumer products. The Company believes that this could be the basis of a long term relationship that could bring significant revenue to the company.
SPECIALTY SENSORS -
We custom manufacture sensors for various uses throughout a number of industries. We have recently received repeat orders for a custom pressure sensor used in industrial manufacturing operations. This sensor was developed by Flexpoint specifically for this application and we continue to receive repeat orders for these sensors. We also have recently received a repeat order for a specialty glove that Flexpoint developed with a company that has application in the musical industry.
More pure play robotics development companies have placed orders with anticipated commercialization of their exciting technologies during 2021.
Resellers/Channel partners with global reach such as RobotShop, a steady contributor of repeat orders throughout 2020. This relationship continues to develop and we expect it to increase in the future. We also receive orders from others such as Shopify, PayPal, Amazon and from orders placed on our website.
Over the years we have developed a number of sensors for use in the medical industry. We have seen a resurgence of interest in the utilization of Flexpoint's Bend Sensor Technology in a system that will allow the healthcare industry to effectively track and monitor the usage of opioids on a real-time basis.
Please visit http://www.flexpoint.com/ for more information.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor® single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators. The company is setting a new standard for sensing solutions in the "smart" age of technology.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Flexpoint Sensor Systems
Clark Mower, President
Brokers and Analysts
SOURCE: Flexpoint Sensor Systems, Inc.