Flexpoint Announces Additional Orders of Impact Detection Sensors to a Leading Manufacturer of Autonomous Vehicles
- None.
- None.
West Jordan, Utah--(Newsfile Corp. - October 30, 2023) - Flexpoint Sensor Systems, Inc. (OTC Pink: FLXT) is pleased to announce the delivery of sensors for an Impact Detection System to a leading manufacturer in the growing autonomous vehicle industry. As previously announced Flexpoint has entered into an agreement with a leading US based manufacturer/OEM to provide custom Bend® Sensors for an impact detection system for autonomous vehicles in the United States. An autonomous vehicle is a driverless vehicle that is capable of sensing its environment and moving safely with little or no human input.
By strategically placing Flexpoint's patented impact detection sensor in key impact areas of the vehicle, we are able to play a vital role in the advancement of autonomous vehicles in the marketplace. Production of the vehicles is scheduled to begin in 2025 and ramp up over the next several years. Once production begins, purchase orders will begin escalating over the next several years.
Clark Mower, President of Flexpoint stated, "We are excited to see additional orders for sensors for an impact detection system so quickly after the previously announced deliveries. This represents an important step in moving forward with this manufacturer. The expansion of this application could increase annual revenues exponentially."
Flexpoint does not have an exclusive arrangement with this manufacturer and if we are able to market a similar system to other autonomous vehicle manufacturers annual revenues could increase significantly.
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® 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.
Please visit https://www.flexpoint.com/ for more information.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185581
FAQ
What is the news about Flexpoint Sensor Systems, Inc.?
What type of sensors is Flexpoint providing?
When will production of the vehicles begin?
Will purchase orders increase over time?
Could the expansion of this application lead to revenue growth?
