Flexpoint Sensor Systems Receives Largest Purchase Orders Year to Date as the Virtual Reality Market Expected to Reach in Excess of $60 Billion by 2028
Flexpoint Sensor Systems (OTC PINK:FLXT) has announced its largest orders to date from industry leaders Manus VR and Neofect, totaling over 3,000 custom sensors for immediate delivery. The growing demand for Flexpoint's Bend Sensor technology is driven by the expanding virtual reality market, projected to exceed $60 billion by 2028 with a growth rate of 18% annually. The partnership with Neofect is particularly impactful, providing innovative rehabilitation solutions and indicating potential financial growth as business normalizes post-COVID.
- Largest orders to date from Manus VR and Neofect for over 3,000 sensors.
- Strong demand for the Bend Sensor in the growing VR market.
- Partnerships with industry leaders suggest established market credibility.
- Virtual reality market projected to exceed $60 billion by 2028.
- None.
DRAPER, UT / ACCESSWIRE / May 26, 2021 / Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) is pleased to announce it has recently received its largest orders to date from global market virtual reality leaders, Manus VR and Neofect. Flexpoint's Bend Sensor® is in high demand as the Virtual Reality (VR) market continues to grow at a rapid rate. These orders represent over 3,000 custom sensors for delivery as quickly as possible and we expect them to lead to a continued growth in these industries. These relationships, along with a number of other relationships, were established a number of years ago and continue to blossom.
VR gloves are used extensively for various purposes in key markets including entertainment, gaming, medical, automotive, and education; sectors that are fueling the growth of the broad-based virtual reality market. This is a market that is expected to grow at a rate of
"Innovation leads many industries that have embraced the myriad applications serviced by Manus VR gloves and motion capture as the company continues to establish itself as the global leader in the VR Gloves Market", states Stephan van den Brink - Founder and Managing Director. Manus VR and others who utilize the Bend Sensor® technology as integral components of their solutions have established niche, market-leading presence respectively in this rapidly growing industry.
Neofect's VR gloves are sought after by top hospitals and medical professionals worldwide for their innovative rehabilitation solutions. They continue to utilize the Bend Sensor® for cutting edge performance. This Neofect/Flexpoint relationship continues to have a significant impact on Flexpoint's financial performance and shows signs of tremendous growth on the horizon.
"We are pleased to announce these recent orders from both Manus and Neofect. They are both leaders in their industry and have been long standing partners with Flexpoint. It is exciting to me that both of these industry leaders have chosen to utilize Flexpoint's patented technology in their cutting edge products. These orders are particularly important because they represent a return to normalcy in business for both of these companies after the disruptions caused by the Covid 19 pandemic." commented Clark Mower, President of Flexpoint Sensor Systems.
About Manus VR - https://www.manus-vr.com/
Well known industries and companies are currently using the virtual reality gloves. Manus gloves featuring Flexpoint's Bend Sensor® are assisting in virtual reality, augmented reality and mixed reality experiments that, for example, train astronauts how to maneuver through the International Space Station in a zero-gravity environment. The value key customer relationships such as BMW, Audi, and Airbus which utilize Manus VR gloves with Flexpoint's Bend Sensor® technology to test drive future models before production has even started. Volkswagen uses Manus VR gloves to give the feeling of a real steering wheel to experience what happens if an accident were to occur. Manus VR has many clients of large industries such as Netflix, Google, and Rolls Royce. Manus VR is widely known for its role in virtual reality gaming and can allow the hands of the user to feel like and be used as controllers.
The Manus VR glove will revolutionize the VR market. It is poised to play a huge role in the on-going virtual reality revolution. Manus VR believes in open innovation through sharing knowledge and experience. The possibilities of the Manus VR gloves are virtually endless and extend far beyond virtual reality.
About Neofect - https://www.neofect.com/us
Partnering with healthcare organizations and improving patient satisfaction and therapy compliance with turnkey telerehabilitation models. Clinical partners include Medstar Health, NYU Langone Medical Center, Stanford Healthcare, Department of Veterans Affairs, Vanderbilt University Medical Center, and Genesis; just to name a few.
A med-tech company helping stroke survivors and people with spinal cord injuries, musculoskeletal disorders, or neurological conditions regain independence and live fuller, more active lives. Its game-based rehabilitation solutions deliver more engaging, quantifiable therapy to improve cognitive, hand, arm, and leg function, while its robotic orthosis creates an artificial grip to increase hand mobility.
Please visit https://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 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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