DRAPER, Utah, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to share market developments as it relates to adoption of its Bend Sensor® technology. The company continues to target markets where the Bend Sensor® technology is differentiated and delivers real value. We anticipate additional product use as global awareness expands.
MEDICAL
Haemoband – A long-awaited development effort is rapidly approaching commercialization across a number of Bend Sensor®-based “scope” technologies. Clinical trials are underway for the previously announced Cologuide colonoscopy product offering that will streamline how these procedures are successfully delivered. Production order fulfillment is set to begin in Q4 2018. Additional scope technologies have been developed featuring adaptations of the core technology which are certain to follow in early 2019.
Opioid Market Development – Flexpoint continues to make progress on the Opioid project.
Medical Glove Manufacturers (Rehabilitation) – Neofect, (Korea), Idrogenet/Gloreha, (Italy), REHA STIM (formerly YouReHab) (Switzerland), and others have all contributed to Flexpoints’ revenue stream thus far in 2018. Purchase orders are expected to continue increasing in order size and volume through the end of the year and into 2019.
VR/AR/MR
Hugely popular vendors such as MANUS VR and others have established market presence in this rapidly growing marketspace as they rely on the Bend Sensor® as integral components of their solutions. These relationships continue to have a significant impact on Flexpoint financial performance and shows signs of tremendous growth on the horizon.
AUTOMOTIVE
2018 has shown a resurgence in market interest and adoption of the Flexpoint seat occupancy sensor and the company’s more sophisticated, Occupant Classification System (OCS). Multiple North American auto manufacturers are preparing to integrate the Flexpoint OCS system in the model year 2020 vehicles. These developments will prove to be major contributors to revenue and company growth in 2019 and beyond.
ROBOTICS
Globally, robotics companies have been increasingly designing the Bend Sensor® into their offerings. As previously announced, ZeroUI is now in production with their robotics toy kits. More pure-play robotics development companies have placed orders with anticipated commercialization of their exciting technologies. Resellers/Channel partners with global reach such as RobotShop, a steady contributor of purchase orders throughout 2018, and NoDNA in Germany have embraced the Bend Sensor® in their product offerings. According to Paul Sexauer, Flexpoint VP Sales & Marketing, “This continues to broaden brand awareness and market growth for Flexpoint in this market segment. We look forward to announcing additional global partners in 2018 and into 2019.”
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 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