Flexpoint Receives Significant Interest in OCS System from the Automotive Sector

West Jordan, Utah--(Newsfile Corp. - August 11, 2022) - Flexpoint Sensor Systems, Inc. (OTC Pink: FLXT) is pleased to announce that they have received numerous requests for an Occupant Classification System, (OCS), for automotive seats.

As the requirements have changed on the federal level and with the advent and growing interest in electronic vehicles, ("EV"), and autonomous vehicles, we have seen significant market interest in our Occupant Classification System, (OCS), for seats in automobiles. We have received numerous requests to further develop and adapt an OCS system specific to various vehicles. This is an advancement of the patented technology that led to past automotive contracts with a major Fortune 50 automotive manufacturer. We are currently working with both North American and foreign automotive manufacturers on this system. These companies include Fortune 50 companies as well as new, foreign, and domestic well financed companies in the EV and autonomous vehicle market spaces. We look forward to announcing production agreements and production schedules.

Clark Mower, President of Flexpoint, stated, "We are excited to have our technology implemented into the traditional automotive industry, but even more excited to have it implemented into the new and growing markets in the EV and autonomous vehicle space. We are currently actively working with two of these new automotive manufacturers on the development of a system for their vehicles and have received numerous inquiries from other manufacturers. The expansion of this application could be significant to Flexpoint."

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.

Please visit https://www.flexpoint.com/ for more information.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133410

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