Flexpoint Sees Progress on Promising Commercial Applications Progress in safety and health applications could yield large annual contracts
DRAPER, Utah, May 29, 2012 /PRNewswire/ -- Flexpoint Sensor Systems, Inc (OTCBB: FLXT), today discussed development of the 16 commercial applications currently using Bend Sensor technology, ranging from safety systems to medical devices.
Over the past several months, Flexpoint has seen its Bend Sensor's reputation for performance, durability and uniqueness cemented through intensive testing and growing demand for use in a large and growing array of products and devices, including many related to safety. The 16 companies currently using and ordering custom made Bend Sensors are developing products that are progressing through advanced stages of development with several on the verge of entering highly lucrative commercial markets.
Bend Sensor technology is a key component in a developing safety system for ambulances, garbage and commercial truck applications that will likely soon be mandated for use in all such vehicles.
"We are seeing our strategy of developing proof of concept through commercial applications continuing to yield results," said Flexpoint President Clark Mower. "There are few applications more demanding of performance and reliability than those pertaining to safety and health. It is rewarding to see the acceptance and the efficacy of our patented Bend Sensor technology for clients in these diverse applications."
These applications are poised for rapid growth, and any of the applications could produce a major annual contract after years of testing and development.
"As we continue to generate confidence in the Bend Sensor's elite durability and performance, we strengthen our position with prospective clients, and we are confident we will see our product expand into many other industries and products," Mower said. "The bottom line is we believe the products we have in the market and on the horizon could take off at any time, representing millions of dollars in potential revenues, and are only the beginning for the Bend Sensor."
Future releases will provide further details on these products and their growth potential.
Flexpoint Sensor Systems (FLXT) is a leading developer of thin film sensing technology to many industries, including automotive, medical, industrial controls, and consumer products.
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, 801-568-5111
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SOURCE Flexpoint Sensor Systems, Inc.