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Flexpoint Updates Automotive Progress

^{Published on 2010-12-14 05:05:34 - Market Wire}
 

DRAPER, Utah--([ BUSINESS WIRE ])--Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) [ http://www.flexpoint.com ] today announced 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, aThese 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.a

Mower continued, aWith 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.a

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.