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Flexpoint Application for NASA Grant Funding Accepted

Dépèche transmise le 20 octobre 2009 par Business Wire

DRAPER, Utah--(BUSINESS WIRE)--Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) today announced that its application for a National Aeronautics and Space Administration (“NASA”) grant for development of innovative technology has been accepted by NASA.

The Grant Funding request for Proposals was a part of NASA’s National Aviation Safety Program, Integrated Vehicle Management Project which “develops validated tools, technologies and techniques for automated detection, diagnosis and prognosis that enable mitigation of adverse events during flight.” NASA is interested in products or systems that will forward “research directed at fundamental knowledge of legacy and future aircraft structures and systems durability; on-board detection, diagnosis, prognosis, prediction and mitigation of system failures and faults; monitoring vehicle and airspace issues to identify problems before they become accidents; understanding aircraft dynamics of current and future vehicles in damaged and upset conditions.”

Flexpoint’s submission included the following declaration, “The Bend Sensor® can be placed in areas previously impossible or impractical for the placing of sensors. By laminating these robust sensors into assemblies such as wings, critical areas in fuselages, and rotors, new critical performance data can become available to the operators and maintenance personnel. Real time monitoring of rotorcraft power trains is practical, along with automated techniques to obtain and process diagnostic information for detecting onset of failure, isolating damage, and assessing damage severity. By integrating the Bend Sensor® with rotorcraft, it could be used to predict the health and usage of rotorcraft dynamic mechanical systems in the engine and drive system, as well as automatic rotor imbalance detection and rotor smoothing.” Should this concept prove viable other applications could include the monitoring of building roofs, floor trusses, and bridge supports. Giving real time feed back for normal structural loading as well as abnormal loads.

Clark Mower, President of Flexpoint Sensor Systems, stated, “Our unique technology allows us the opportunity of pursuing additional areas of applications and felt that NASA’s Request for Proposals for Grant Funding matched the Bend Sensors® capabilities. We will continue to pursue alternative funding opportunities, such as grants from other government agencies and other sources. We are delighted that the application was accepted by NASA and look forward to being able to provide additional information and applications as we determine unique applications and product for our patented Bend Sensor® 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.

Business Wire

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