Flexpoint Sensor Systems Provides Automotive Update
Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) has made significant strides in the advancement of its patented Bend Sensor technology for automotive applications. The company is actively negotiating agreements with major automobile manufacturers to integrate its Occupant Classification System (OCS) into vehicles, enhancing safety by determining front passenger seat occupancy. Flexpoint anticipates increased demand for this technology, particularly with the rise of autonomous vehicles. Collaborative agreements with a leading microelectronics manufacturer are in the works to bolster production capabilities.
- Advancement of patented Bend Sensor technology for automotive applications.
- Negotiations with major auto manufacturers for OCS integration, enhancing vehicle safety.
- Expected increase in demand for the OCS system correlating with the growth of autonomous vehicles.
- Finalizing agreements with a global microelectronics manufacturer to enhance production capacity.
- None.
DRAPER, UT / ACCESSWIRE / February 17, 2021 / Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) provides the following information on recent advancements of its' patented Bend Sensor® technology and the use of the Bend Sensor® in Automotive applications and Flexpoint's current negotiation of agreements with potential business partners.
As Flexpoint has progressed in agreements with both domestic and foreign major automobile manufactures, it has become apparent that it would be beneficial to align ourselves with a company that has proven experience and capabilities in the design and manufacture of electronic control packages utilized in automobiles. These control packages, when coupled with our Bend Sensor® Technology, will provide a production ready state of the art Occupant Classification System (OCS). An OCS is a safety system in which the front passenger seat is equipped with sensors and electronics that enable it to detect and classify the occupant and determine whether it is an inanimate object, such as a brief case, grocery bag, an infant in a car seat, a child, a small adult or a larger adult. With this information it can then either prevent the front passenger airbag from deploying or deploying the airbag in stages depending on who is occupying the seat. This is an essential safety feature designed to lessen the chances of passengers being injured by the improper deployment of the airbag in the event of an accident. Flexpoint has been involved in the design and manufacturing of these specialty seat sensors for several years, and as previously announced, we are currently working with both North American auto manufacturers as well as international foreign automotive manufacturers for such a system.
The need for this system has been demonstrated by the number of recent inquiries Flexpoint has received for an OCS system, and we expect demand to increase with the expanding market for autonomous vehicles.
Flexpoint is currently finalizing agreements with an engineering design company who is a global manufacturer of microelectronics and industrial control boards whose diverse products and processes include a wide array of leading edge technologies.
Flexpoint President Clark Mower stated, "We are excited about the potential to be involved with a Company of this caliber with the complementary skills that will provide us not only with the capabilities we have been looking for, but also will provide them the ability to expand their current business offerings by adding our technology. This should provide increased opportunities for both companies to expand their client base and grow their businesses. We hope to be in a position to announce the arrangement in the near future. We are also currently involved in developing another unrelated application utilizing our Bend Sensor® Technology with a Fortune 100 Automotive Manufacturer."
Please visit http://www.flexpoint.com/ for more information.
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. 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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