Flexpoint Taxi Tracking Sensor Tested to 100% Accuracy -- Growing need for taxi accountability systems is global in scope
DRAPER, Utah, June 18, 2012 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) today discussed a report by Cooperation for urban mobility in the developing world (CODATU) detailing a passenger tracking system Flexpoint developed in association with a South African Company that uses Bend Sensor® technology to make public transportation more efficient.
When configured specifically for each vehicle, the system can identify passenger counts in certain taxis with 100% accuracy and averages 85-95% accuracy overall. The Bend Sensor's highly durable, single layer construction made it the perfect fit for this system in part because it can be so easily adapted to different vehicles without losing accuracy.
"This report provides a clear picture of how our unique technology is being utilized in an innovative solution to taxi efficiency," said Flexpoint president Clark Mower. "The system described is highly accurate and is similar to technologies we have in development around the world. Accurately accounting for ridership is a growing need, particularly in emerging areas of the world that rely heavily on public transportation, such as many African and South American countries. The system is not only needed for taxis and smaller carriers, but also is effective in larger buses and conveyances that are used on routes in remote locations."
Flexpoint is currently exploring the possibility of developing a full "plug and play" version of this system for easy installation. There is a large and unmet need for taxi efficiency systems world-wide. The system has already generated interest and inquiries from companies in Africa and South America.
"This system is a great illustration of our Bend Sensor's versatility," said Mower. "The durability associated with the Bend Sensor's single-layer construction that uses no mechanical or moving parts, combined with its cost effectiveness and accuracy makes it ideal for this type of product. There are a range of uses for variations of this application in other industries, and we're excited to see how it might be utilized."
Flexpoint Sensor Systems (FLXT) is a leading supplier 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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