DRAPER, Utah--Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) http://www.flexpoint.com announces significant progress with multiple manufacturers and Tier 1 suppliers. Flexpoint anticipates Bend Sensor products to be in vehicles manufactured as early as the 2012 model year.
Clark Mower, President of Flexpoint, stated, These sensor products will work on multiple platforms and will, among other things, consist primarily of products that will enhance passenger comfort and convenience and help with vehicle controls. Our sensors will also increase the safety of the vehicles. We anticipate production to begin during the third quarter of 2011 and believe that we will see substantial revenues from these production contracts.
Mower continued, With a $10 billion auto sensor industry and $150 billion worldwide sensor market our potential with the Bend Sensor technology is significant. During the coming months we will be able to offer our shareholders specifics related to actual products being produced and production contracts and agreements with partners. We are continuing to produce and develop new applications for the Bend Sensor technology regularly. It is nice to see this breakthrough in an industry that we have felt was such a natural fit for our sensors.