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Flexpoint Receives Development Purchase Order to Advance Automotive Product

^{Published on 2011-05-16 05:05:58 - Market Wire}
 

DRAPER, Utah--([ BUSINESS WIRE ])--Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) [ http://www.flexpoint.com ] today announced that they have received a follow-up order to manufacture sensors for a major domestic automobile manufacturing Company for advanced testing of a safety product.

The Company is working with a major automotive manufacturer on the design and production of an advanced safety product for the automotive industry. Flexpoint recently received a purchase order to manufacture and supply second-generation sensors for continued testing by the manufacturer. The sensors have been produced and shipped as requested. This is another application of Flexpointa™s patented Bend Sensor® technology in the automotive industry.

Clark Mower, President of Flexpoint, stated, aWe were excited to receive this follow-up production order. The original testing went well and the advancement of the design and testing are very gratifying to the Company. We expect that additional testing will lead to a refinement of the application and eventually to production purchase orders for a completely new application of our technology. It is particularly satisfying to have major automotive manufacturers come to us with innovative applications for our technology. Flexpoint anticipates that this and other automotive agreements will generate substantial revenues during the second half of 2011 and beyond. Current automotive products that we expect to release to the marketover the next 12-24 months include dashboard products that enhance functionality of electronic systems and styling, safety products and multiple car seat products. For each of these products we are aligned with a multi-billion dollar automobile manufacturer or Tier 1 supplier.a

About Flexpoint Sensor Systems

Flexpoint manufactures a patented cutting-edge flexible sensor that has also proven to be an extremely durable switch. The single-layer Bend Sensor^® product allows for the measurement of mechanical movement, air flow, water flow or even vibration. It can be used as a range of motion sensor, or as a durable & reliable switch in most harsh environments. Flexpoint serves numerous industries including automotive, medical, industrial controls, monitoring & more.

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.