Fortune 50 Automotive Manufacturer Incorporates Flexpoint Sensor System's Technology

Rhea-AI Summary

Flexpoint Sensor Systems (FLXT) announced its technology was included in a patent by a major automotive manufacturer, enhancing vehicle ride quality. This relationship opens avenues in a competitive automotive market projected to grow from $55.28 billion in 2019 to $73.36 billion by 2027. Flexpoint is also collaborating with two other manufacturers to integrate its patented Bend Sensor technology into impact detection and OCS systems. The company sees significant potential for rapid implementation and possibly licensing opportunities.

Positive

• Technology included in a patent by a major automotive manufacturer.
• Collaboration with two additional automotive manufacturers.
• Potential for rapid technology implementation in vehicles.
• Access to a market projected to grow significantly.

Negative

• None.

DRAPER, UT / ACCESSWIRE / April 28, 2021 / Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) recently had its technology included in a patent issued to a major automotive manufacturer. By utilizing Flexpoint's technology, this manufacturer has created an innovative application for automobiles and trucks. By using this technology the manufacturer can optimize the ride quality of the vehicle. Flexpoint is actively working with the manufacturer on implementation of this new technology in vehicles.

Research indicates the current competitive global market for the automotive system which our sensor will be a included in was valued at $55.28 Billion in 2019 and is projected to reach $73.36 Billion by 2027. "We are excited about this relationship and the opportunity it provides Flexpoint to be a part of this market," stated Flexpoint President Clark Mower.

Additionally, the company is working with two other automotive manufacturers on the integration of Flexpoint's patented Bend Sensor^® technology. These manufacturers are working with the Company to incorporate their existing technology in an impact detection system and an OCS system.

"Anytime you have a Fortune 50 Company, which produces millions of vehicles annually, incorporating your technology into one of their patents it becomes a major milestone for your Company. This technology has been developed for use in their own vehicles but they may also license the technology to other manufacturers. We now believe that this new application is positioned to be implemented fairly quickly. It is rewarding to have our technology with a custom sensor included in this innovative application which became the basis for a new patent issued to a major player in the automotive industry. We are also actively developing other unrelated applications utilizing the Bend Sensor^® Technology with this and other automotive manufacturers," commented Flexpoint President Clark Mower.

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

View source version on accesswire.com:
https://www.accesswire.com/642632/Fortune-50-Automotive-Manufacturer-Incorporates-Flexpoint-Sensor-Systems-Technology

FAQ

What recent milestone did Flexpoint Sensor Systems (FLXT) achieve?

Flexpoint Sensor Systems announced that its technology was included in a patent issued to a major automotive manufacturer.

How much was the automotive market valued in 2019 according to Flexpoint's press release?

The automotive market was valued at $55.28 billion in 2019.

What technology is Flexpoint working to integrate with other manufacturers?

Flexpoint is working to integrate its patented Bend Sensor technology.

What opportunities does Flexpoint see with the newly incorporated technology?

Flexpoint sees significant potential for rapid implementation and possible licensing opportunities.