Flexpoint Kicks Off Work with Automotive Manufacturer

Flexpoint Sensor Systems, Inc. has recently started work on a recently executed advanced stage turnkey design/development deal with a Fortune 100 automotive manufacturer.

In a statement, Clark Mower, President of Flexpoint Sensor Systems, commented that it marks another huge milestone on a path to success within the automotive industry in general and with the manufacturer in particular. He noted that it is specifically satisfying as it marks huge progress on a path they set out on several months ago.

Upon completion, the pre-production design/development deal will pave the way for the beginning of widespread adoption and production deployment. Huge revenue contribution from this deal will be recognized in the fourth quarter of the year, with further revenue recognition coming in the first quarter of next year. The company anticipates more considerable revenue contribution from this relationship to follow.

The highly advanced Flexpoint Bend Sensor® has been adapted and designed into multiple patented automotive applications. Flexpoint claims that the Bend Sensor technology has a significant value to bring to their ‘design of the future’.

According to Paul Sexauer, Flexpoint’s VP of Sales & Marketing, Bend Sensor® and Flexpoint set themselves apart from competitors due to their ability to adapt to various criteria. He noted that the road to getting a foothold in the automotive industry is complicated, and they are pleased to see the progress they have made.

Sexauer added: “We’ve had to overcome the many barriers to entry. After a company overcomes these barriers, successfully navigating through the morass of concept, design, prototype, testing, certification, alignment with Tier1/Tier 2 suppliers, gaining application readiness, and then pre-production readiness, etc. can be a journey to test the mettle of almost any manufacturer.”

Moreover, Flexpoint expects huge developments with Tier 1/Tier 2 automotive suppliers next year to compliment this huge milestone victory, further adding to its industry success and showcasing the ability to implement on a key component of their long-term strategy.