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Flexpoint Enters into Half-Million-Dollar Licensing Agreement with Neptune Control, LLC, Maker of state-of-the-art Moisture Detection System

December 19, 2019 GMT
New Trident Moisture Detector® will utilize Flexpoint's Bend Sensor® as a part of their ground-breaking technology in lawn and green space care and conservation DRAPER, UT / ACCESSWIRE / December 19, 2019 / Flexpoint Sensor Systems, Inc. ...
New Trident Moisture Detector® will utilize Flexpoint's Bend Sensor® as a part of their ground-breaking technology in lawn and green space care and conservation DRAPER, UT / ACCESSWIRE / December 19, 2019 / Flexpoint Sensor Systems, Inc. ...

New Trident Moisture Detector® will utilize Flexpoint’s Bend Sensor® as a part of their ground-breaking technology in lawn and green space care and conservation

DRAPER, UT / ACCESSWIRE / December 19, 2019 / Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) has entered into a five-year, half-million-dollar Licensing Agreement with Neptune Controls, LLC, an environmentally conscience, Utah-based company dedicated to the conservation of water. The agreement included the first payment of $100,000 with the execution of the agreement and the balance to be paid in four additional installments over the course of next four years, licenses the use of Flexpoint’s Bend Sensor technology to detect the presence of moisture in soil, effectively shutting down a sprinkler system when a precise and optimum level of moisture is reached.

According to the EPA’s WaterSense, landscape irrigation accounts for nearly one-third of all residential water use, totaling more than 7 billion gallons per day. There are somewhere around 40 million acres of lawn in the lower 48, according to a 2005 NASA estimatederived from satellite imaging. “Turf grasses, occupying 1.9% of the surface of the continental United States, would be the single largest irrigated crop in the country.

“Current sprinkler systems continue to water beyond what is needed to keep a green space healthy,” explained Josh Quai, Director of Operations at Neptune Control. “Watering an average-sized lawn accounts for seventy percent of a normal water bill, and half of that is wasted due to the inefficiencies of current systems. Our Trident System uses solar energy to power the sensor, effectively measuring the smallest amount of moisture in the soil allowing consumers to use water in a more conservative manner.”

At the heart of Neptune Control’s Trident System is the Flexpoint Bend Sensor. Flexpoint has worked hand-in-hand with Neptune Control during testing and trials to develop a precise watering system that will potentially impact millions of sprinkler systems, saving billions of dollars and the world’s most precious resource-water.

“The bend sensor in this configuration is very effective measuring water content without being influenced or compromised by the conductive content or minerals in the soil,” said Dave Beck, Director of Flexpoint Engineering.

Each solar-powered sensor is protected by a durable sheath and designed to slip easily into the soil near a sprinkler head in each watering zone, detecting with remarkable accuracy the moisture level in the soil. Working in conjunction with a proprietary software program, the Neptune System shuts down when the soil reaches the pre-determined parameter set by the owner. A smartphone app is included in the system, keeping the owner up to date on the health and wetness of their green space.

“With the potential to impact the environment enormously,” said Clark Mower, CEO of Flexpoint. “Flexpoint is once again poised to utilize the power of the Bend Sensor® as we partner with Neptune Control to help save money and water.”

The leading supplier of thin film sensing technology, Flexpoint is dedicated to delivering the most innovative and cost-effective solutions to companies around the globe.

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

SOURCE: Flexpoint Sensor Systems, Inc.

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