DRAPER, Utah, March 15, 2017 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) and US-based CaptoGlove™ today announced a strategic, collaborative relationship between the two companies to deliver innovative, integrated virtual reality/augmented reality (VR/AR) systems to mass markets including B2B, consumers and military. Flexpoint is in receipt of mass production orders for sensors and expects this relationship to increasingly contribute to the company's success on a quarterly basis in 2017 and well beyond.
CaptoGlove™ was established in 2015. The CaptoGlove™ founders, who collectively bring more than 20 years of combined industry experience, offer technology consultancy, integrated solution development and overall solution manufacturing. CaptoGlove™ is a wearable virtual reality gaming motion controller able to transform human hand actions into digital inputs. These ground-breaking glove systems, combined with unique, leading edge software applications, also adapt to a wide range of other applications including health rehabilitation, unmanned systems control, smartphone interaction and professional training across multiple industries.
Market demand for these unique systems is currently strong and expected to grow exponentially as the overall VR/AR market continues on its aggressive growth path. Commenting on the overall market outlook and the Flexpoint relationship, CaptoGlove™ COO Mauro Bettiol stated, "Our product is engineered with quality in mind: from software to hardware. When we decided to scale our production and maintain the quality standards very high, we partnered with Flexpoint."
Flexpoint is delivering enhanced turnkey manufacturing services to CaptoGlove™. In addition to producing an array of Bend Sensors®, the company is under contract to supply integrated assemblies comprised of multiple sensor types and associated electronics. According to Paul Sexauer, Flexpoint VP Sales & Marketing, "To be a strategic partner with such a ground-breaking technology leader in a rapidly burgeoning marketspace is an honor. We are especially pleased as this represents the largest order we have received in one of our targeted market segments. This is a relationship we look forward to continuing to build."
The Flexpoint Bend Sensor® was chosen by CaptoGlove™ as a cornerstone of their innovative, glove-based (wearable) system. The company is currently developing next generation products that will also feature custom Bend Sensor® designs, provide additional innovations and position the company for tremendous success for many years to come.
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 many industries such as sports/fitness, automotive, safety, medical and industrial; some of which can be further categorized in the rapidly growing "wearables" space. The Bend Sensor's 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.
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.
Flexpoint Sensor Systems
Clark Mower, President
Brokers and Analysts
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