Flexpoint Sensor Systems, Inc. Receives Multiple Purchase Orders Increasing in Size and Volume from VR/AR Partner Manus VR
DRAPER, Utah, Oct. 5, 2017 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) is pleased to announce it has recently received follow-on production orders from global market virtual reality leader, Manus VR. "Manus VR is achieving remarkable success in the virtual reality/augmented reality (VR/AR) market as a whole, and seeing significant traction in the B2B segments. Manus continues to submit purchase orders with us which have increased in size and frequency over time," commented Paul Sexauer, Flexpoint's Vice President of Sales and Marketing.
In 2016, Manus VR successfully brought to market the industry's first fully functional, virtual reality glove. A tremendously feature-rich offering, the glove integrates a number of technologies into a unique and truly inspired design. Manus' overall vision is to supply the industry's finest components that integrate with various VR hardware platforms offered by such notable companies as HTC, Vicon, Xsan and others.
As previously announced, The Manus VR glove offers a revolutionary new VR experience. It allows for a truly immersive VR experience by tracking hands in real-time. The Manus VR Gloves bring solutions for training simulations, VR arcades, robotics, medical purposes and motion capture. The B2B market has seen the value and adoption has proven to be more rapid than expected.
Sexauer further commented, "Flexpoint is proud to be fully integrated into the virtual reality product from a prestigious firm like Manus. We anticipate a long-term business partnership that is mutually beneficial. This relationship validates and reinforces our unique position in the exciting and rapidly growing VR market. This will be a major contributor to our record setting revenue growth this year and going forward."
VR/AR will be an $80 billion market by 2025 according to Goldman Sachs. By Comparison the TV market is $99 billion, the tablet PC market is $63 billion and the video game industry is $11 billion. Over $10 billion in venture capital has been poured into the VR/AR industry since the beginning of 2014.
The waterproof Manus VR gloves are compatible with several systems including HTC Vive (Vie Tracker and Steamer Tracking), and motion capture systems like Vicon and Xsens, and they plan to make solutions compatible with every major virtual reality system on the market.
In addition to the gloves, Manus VR is developing a software development platform that enables software developers to design and build applications that extend far beyond virtual reality. This opens up a strong portion of the market that includes retail, healthcare, engineering, military and real estate applications.
Please visit http://www.flexpoint.com/ for more information.
About Manus
The Manus VR glove will revolutionize the VR market. It is set to play a huge role in the virtual reality revolution. Manus VR believes in open innovation through sharing knowledge and experience. The possibilities of the Manus gloves are virtually endless and extend far beyond virtual reality.
In October 2014, Manus VR was selected from 10,000 candidates who took part in the Dutch StartupBootcamp HighTechXL, together with eleven other participants. The program helped Manus VR accelerate and build the business in just three months. After the program's Demo Day in February 2015, the company signed up leading development partners and clients. Furthermore, it was fully funded at record speed, enabling the company to further develop the product.
Since developing the first working prototype in 2014, Manus has been a fast-growing company. It has grown around 300% and developed a functioning product in combination with a strong development platform.
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.
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
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SOURCE Flexpoint Sensor Systems, Inc.
