Flexpoint Enters into Strategic Marketing and Manufacturing Agreements with HTK Engineering, LLC
HTK receives patents on safety system featuring Bend Sensor®
DRAPER, Utah, Feb. 4, 2016 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to announce that it will partner with HTK Engineering, LLC, hereinafter HTK, on the go to market strategy development and sales execution of HTK's anti-rollaway safety system. The system incorporates a Flexpoint patented seat occupancy sensor featuring the Bend Sensor® technology. Flexpoint will provide comprehensive sales and marketing support in North America to HTK as it establishes itself in the target markets which are in increasingly desperate need of this type of technology. Rollaways occur weekly across a multitude of industries causing significant property damage and, in some cases personal injury and loss of life, placing huge liabilities on the firms that operate this equipment.
Product development collaborator and customer, HTK, recently received full patent approval from the US Patent office for its promising anti-rollaway safety system that incorporates the Bend Sensor®. This long awaited patent development clears the way for mass commercialization success for this very unique solution. Originally purposely designed with the waste and recycling management industry in mind, it will be easily adapted to, and widely adopted by, heavy duty and specialty trucking industries as a whole.
According to Paul Sexauer, Flexpoint's VP of Sales & Marketing, "This arrangement allows Flexpoint to guide and significantly contribute to the destiny of success of a truly unique technology solution featuring the Bend Sensor®. It helps companies achieve their risk management goals and delivers significant and immediate ROI to those that deploy this system across their vehicle fleets. Market adoption has been difficult to achieve in the past because of the absence of patent protection and now that this barrier has been crossed the future is very promising for HTK and Flexpoint."
First announced in 2011, the product collaboration between HTK and Flexpoint, and initial market development efforts by HTK resulted in a number of "pilot" deployments of the technology proving efficacy and durability, as well as demonstrating value. According to Sexauer, "We are fortunate to have a history of "in service" success and resultant customer testimonials we can rely on and leverage as we develop our target markets and close business in the short-term."
Not only will this relationship contribute to future revenues relative to sales of the sensors, but it also allows for the realization of revenue of the overall solution sales this represents. It is a true WIN/WIN/WIN for HTK and Flexpoint. Sexauer further commented, "Flexpoint is extremely happy for the opportunity to more directly contribute to the success of a trusted partner and assume a strategic leadership role in that success. This relationship presents beachhead opportunities for the company to position other complimentary Flexpoint patented applications and the Bend Sensor® technology for consideration by the customer base." Flexpoint anticipates this relationship will provide significant and sustained revenue streams in mid to late 2016 and beyond.
For information regarding the HTK Safety System, please contact Sales at Flexpoint http://www.flexpoint.com/about-flexpoint/contact-us/ or directly to Paul Sexauer at [email protected].
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (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's 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 for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
Forward-Looking Statements
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.
Contact Information:
Flexpoint Sensor Systems
Clark Mower, President
801-568-5111
Brokers and Analysts
Chesapeake Group
410-825-3930
SOURCE Flexpoint Sensor Systems, Inc.
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